Basis of preparation

Nordex Aktiengesellschaft (Nordex AG), a listed stock corporation incorporated in accordance with German law, and its subsidiaries develop, manufacture and distribute wind power systems, particularly multi-megawatt turbines. Nordex Aktiengesellschaft is domiciled in Rostock. However, its headquarters are located in Bornbarch 2, 22848 Norderstedt, Germany.

Nordex AG stock is admitted to regulated trading subject to the advanced admission obligations (Tec Dax) stipulated by Deutsche Börse. Its nominal capital as of December 31, 2008 stands at EUR 66,845,000.00 (December 31, 2007: EUR 66,845,000.00) and is divided into 66,845,000 (December 31, 2007: 66,845,000) no-par-value shares with a notional value of EUR 1.00 each.

Nordex AG’s consolidated financial statements for the year ending December 31, 2008 were approved for publication in a resolution passed by the Management Board on March 19, 2009. The consolidated financial statements had not yet been approved in accordance with Section 170 et seq. of the German Stock Corporation Act.

The consolidated financial statements of Nordex AG and its subsidiaries were prepared in accordance with Section 315a of the German Commercial Code using the International Financial Reporting Standards (IFRS) as they are to be applied in the European Union. In this connection, all International Financial Reporting Standards and interpretations of the International Financial Reporting Interpretations Committee binding as of December 31, 2008 were applied.

The consolidated financial statements were prepared using the historical cost method. The consolidated financial statements are prepared in EUR 000s.

In fiscal 2008, Nordex applied the current/non-current distinction provided for in IAS 1 for accounting for assets and liabilities.

At Nordex AG and all its consolidated companies, the fiscal year is identical to the calendar year.

Other than this, there are no changes in the accounting and measurement methods used compared with the previous year.