Public offer for Metro International S.A (LU) by Investment AB Kinnevik (SE) — SEK 1.15 billion

Carnegie acted as adviser to the Independent Committee of the Board of Directors of Metro International in the public offer from Kinnevik. Investment AB Kinnevik announced a recommended all cash offer for all outstanding shares of class A and class B, as well as all outstanding warrants and debentures, in Metro International S.A, for a total value of approximately SEK 1.15 billion.April, 2012.