X0306 4 2015-11-23 0 0001001606 BLOUNT INTERNATIONAL INC BLT 0001406313 P2 Capital Partners, LLC 590 MADISON AVENUE, 25TH FLOOR NEW YORK NY 10022 0 0 1 0 0001145934 MOLLER CLAUS J 590 MADISON AVENUE, 25TH FLOOR NEW YORK NY 10022 0 0 1 0 Common Stock 2015-11-23 4 S 0 18304 5.2782 D 1279551 I By P2 Capital Master Fund I, L.P. Common Stock 2015-11-24 4 S 0 6336 5.436 D 1273215 I By P2 Capital Master Fund I, L.P. Common Stock 2015-11-23 4 S 0 30584 5.2782 D 2137992 I By P2 Capital Master Fund VI, L.P. Common Stock 2015-11-24 4 S 0 10587 5.436 D 2127405 I By P2 Capital Master Fund VI, L.P. Common Stock 2015-11-23 4 S 0 55112 5.2782 D 3852660 I By P2 Capital Master Fund IX, L.P. Common Stock 2015-11-24 4 S 0 19077 5.436 D 3833583 I By P2 Capital Master Fund IX, L.P. This transaction was executed in multiple trades at prices ranging from $5.09 to $5.45 per share, inclusive. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. P2 Capital Partners, LLC (the "Manager"), as the investment manager of P2 Capital Master Fund I, L.P., P2 Capital Master Fund VI, L.P. and P2 Capital Master Fund IX, L.P. (the "Funds"), and Claus Moller, as managing member of the Manager, may be deemed to own beneficially the shares of Common Stock that are owned directly by the Funds. Each of the Manager and Mr. Moller disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein, and this report shall not be deemed to be an admission that either reporting person is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such shares. /s/ Claus Moller, Managing Member, on behalf of P2 Capital Partners, LLC 2015-11-25 /s/ Claus Moller 2015-11-25