Api, Inc. Asbestos Settlement Trust

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ANNUAL REPORT OF THE TRUSTEE, 2012API, INC. ASBESTOS SETTLEMENT TRUSTMay 22, 2013TO:Trust Advisor, API, Inc. Asbestos Settlement TrustMichael S. PolkSIEBEN POLK, PA1640 S. Frontage RoadSuite 200Hastings, MN 55033Legal Representative, API, Inc. Asbestos Settlement TrustHon. Thomas H. Carey6475 White Pine LaneGilbert, MN 55741API, Inc., Settlor, API, Inc. Asbestos Settlement Trustc/o Chief Executive Officer1100 Old Highway 8 NWNew Brighton, MN 55112This Report has been prepared by the Trustee of the API, Inc. Asbestos Settlement Trust(“Trust”), pursuant to Sections 2.2 (b), and (c), of the First Amended API, Inc. AsbestosSettlement Trust Agreement (“Trust Agreement”). Those sections require the Trustee to prepareand submit an Annual Report containing the Trust’s financial statements, auditor’s opinion, andsummary of type and number of claims to the Trust during the prior year, all as more fullydescribed in those sections of the Trust Agreement.This Report is the Annual Report for 2012.The Trust has retained the accounting firm of Messerli & Schadow, PLLP ofMinneapolis, Minnesota, as the Trust’s auditors, to prepare the Financial Statements, and to issuea fairness opinion as to those Financial Statements for 2012. Pursuant to that engagement,Messerli & Schadow, PLLP has completed both the Financial Statements, and has issued itsIndependent Auditor’s Report regarding those t.com225 South Sixth Street, Suite 4800, Minneapolis, MN 55402

EXHIBIT A

Pre‐2012 New Claims Paid 2012ClaimantSmith, MardellKnowlen, RichardBlotsky, LouAnn (PR)Johnson, Rebecca (Trustee)Rutten, John T.Iozzo, JohnCormier, Gregory (Trustee)Holton, Larry GeneFellman, Mark J. (Trustee)Buzick, Cheryl (Trustee)Morrow, Ronald L., Jr. (Trustee)Fontaine, Donald T.Weinner, David J.Blommer, John M.Gorder, Raymond E.Delsing, Michael D.Froom, Donald C.Michels, RobertChalkline, HaroldDecedentStateMNMNBlotsky, RaymondNDJohnson, Franklin Dennis MNMNMNComier, Richard F.MNMNBohn, Willard EugeneMNBuzick, ArthurNDMorrow, Ronald L., Sr.MNMNMNMNMNMNMNMNMNDiseaseV ‐ PleuralIII ‐ Other CancersI ‐ Malignant MesotheliomaIV ‐ AsbestosisI ‐ Malignant MesotheliomaI ‐ Malignant MesotheliomaIV ‐ AsbestosisV ‐ PleuralI ‐ Malignant MesotheliomaII ‐ Lung CancerI ‐ Malignant MesotheliomaI ‐ Malignant MesotheliomaI ‐ Malignant MesotheliomaI ‐ Malignant MesotheliomaIV ‐ AsbestosisI ‐ Malignant MesotheliomaV ‐ PleuralIV ‐ AsbestosisV ‐ PleuralDate nt 1Paid (1) 9,045.0004/02/2012 22,140.0001/31/2012 35,126.1004/02/2012 17,160.0001/31/2012 94,875.0001/31/2012 94,875.0009/18/2012 17,160.0001/10/2012 9,045.0001/10/2012 94,875.0004/02/2012 13,433.1012/04/2012 94,875.0001/10/2012 94,875.0001/31/2012 94,875.0001/03/2012 94,875.0010/08/2012 17,160.0001/10/2012 94,875.0001/10/2012 9,045.0001/10/2012 17,160.0001/10/2012 9,045.0004/02/2012EXHIBIT B

2012 New Claims Paid 2012ClaimantAppert, Patrick A.Huppertz, Theresa (Trustee)Husnick, Eugene P., Jr.Dahlman, Christine (Trustee)Peterson, Roger L.McCarthy, Thomas W.Gilman, StanleyRolfes, Mark A. (Trustee)Rantala, William E.Schanno, Mary (Trustee)Cragoe, Mareese (Adm)Bruell, Baylin (Trustee)Frydenlund, ThomasGiguere, DarrelDeCosse, Lyric (Larry) N.Hamp, Michael J.Hyland, Loren A.Bastian, Michael C.Aronen, JamesTitus, Patricia (Trustee)Hasse, Paul G.Ottem, HelenGathje, Helen (Trustee)Price, Betty J.Matros, William J.Miller, Dennis J.Pederson, Patricia Ann (PR)Andrews, Francis G.Eckstrom, Evelyn (Trustee)Kimball, Carla (Adm)Nowlan, Roseann (Adm)Armagost, Herschel ClarkKucera, Jacob J. (Trustee)Welman, Bonnie (Trustee)DecedentStateNDHuppertz, Peter W.MNMNWesterson, David R.MNMNMNMNRolfes, Harvey B.MNMNSchanno, Melvin L.MNCragoe, Donald W.MNFanberg, Joel G.MNMNMNMNMNMNMNMNKaiser, Joseph E.MNMNMNGathje, RonaldMNMNMNMNPederson, HalftanMNMNEckstrom, David B.MNKimball, Dennis W., Sr.MNNowlan, Thomas John, Sr. MNMNKucera, Carol AnnMNWelman, LelandMNDiseaseDate FiledI ‐ Malignant Mesothelioma01/06/2012I ‐ Malignant Mesothelioma01/10/2012V ‐ Pleural01/17/2012II ‐ Lung Cancer01/30/2012IV ‐ Asbestosis02/06/2012V ‐ Pleural02/08/2012IV ‐ Asbestosis02/08/2012I ‐ Malignant Mesothelioma02/15/2012II ‐ Lung Cancer02/21/2012I ‐ Malignant Mesothelioma02/24/2012I ‐ Malignant Mesothelioma03/08/2012I ‐ Malignant Mesothelioma03/19/2012IV ‐ Asbestosis03/26/2012I ‐ Malignant Mesothelioma03/27/2012IV ‐ Asbestosis03/29/201204/16/2012I ‐ Malignant MesotheliomaI ‐ Malignant Mesothelioma04/23/2012V ‐ Pleural04/30/2012I ‐ Malignant Mesothelioma05/03/2012II ‐ Lung Cancer05/07/2012V ‐ Pleural05/09/2012I ‐ Malignant Mesothelioma05/10/2012II ‐ Lung Cancer05/16/2012I ‐ Malignant Mesothelioma06/06/2012IV ‐ Asbestosis06/12/2012I ‐ Malignant Mesothelioma06/13/2012I ‐ Malignant Mesothelioma06/22/2012IV ‐ Asbestosis07/10/2012II ‐ Lung Cancer07/13/2012I ‐ Malignant Mesothelioma08/03/2012I ‐ Malignant Mesothelioma08/07/201208/09/2012IV ‐ AsbestosisI ‐ Malignant Mesothelioma08/17/2012I ‐ Malignant Mesothelioma08/20/2012Payment 1 35,126.10 94,875.00 9,045.00 41,115.00 17,160.00 9,045.00 17,160.00 94,875.00 41,115.00 94,875.00 94,875.00 94,875.00 17,160.00 94,875.00 17,160.00 94,875.00 94,875.00 9,045.00 94,875.00 41,115.00 9,045.00 94,875.00 41,115.00 94,875.00 17,160.00 94,875.00 94,875.00 17,160.00 41,115.00 94,875.00 94,875.00 17,160.00 94,875.00 94,875.00Paid 01212/04/201212/18/201212/04/201212/04/2012

2012 New Claims Paid 2012ClaimantGauthier, Kathy L. (Ext.)Goetze, James R.DecedentKelly, David E.State DiseaseDate FiledMN I ‐ Malignant Mesothelioma09/13/2012MN IV ‐ Asbestosis10/08/2012Payment 1 94,875.00 17,160.00Paid (1)12/04/201212/04/2012

2nd Injury Claims Paid 2012ClaimantSanders, Mary (Trustee)DecedentStateInitial DiseaseDiseaseSanders, Edward N. MNIV ‐ Asbestosis II ‐ Lung Cancer2nd Claim Filed07/21/2010Payment 1Date (1)Payment 2Paid (2)Payment 3Paid (3)Payment 4 9,813.07 02/05/2007 14,931.47 03/10/2008 11,678.55 04/17/2008 3,642.30Paid (4)11/24/2009Payment 5 1,049.61Paid (5)01/10/2012EXHIBIT C

API, INC. ASBESTOS SETTLEMENT TRUST May 22, 2013 TO: Trust Advisor, API, Inc. Asbestos Settlement Trust Michael S. Polk SIEBEN POLK, PA 1640 S. Frontage Road Suite 200 Hastings, MN 55033 Legal Representative, API, Inc. Asbestos Settlement Trust Hon. Thomas H. Carey 6475 White Pine Lane Gilbert, MN 55741 API, Inc., Settlor, API, Inc. Asbestos .

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