<Page>
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            ------------------------

                                   FORM 10-Q

            QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                 FOR THE QUARTERLY PERIOD ENDED: MARCH 30, 2002

                       COMMISSION FILE NUMBER: 000-30027

                            ------------------------

                              MOLDFLOW CORPORATION
             (Exact name of registrant as specified in its charter)

<Table>
<S>                                            <C>
               DELAWARE                                     04-3406763
    (State or other jurisdiction of            (I.R.S. Employer Identification No.)
    incorporation or organization)
</Table>

                    430 BOSTON POST ROAD, WAYLAND, MA 01778
          (Address of principal executive offices, including zip code)

                                 (508) 358-5848
              (Registrant's telephone number, including area code)

                            ------------------------

    Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes /X/  No / /

    There were 10,106,511 shares of our common stock, par value $0.01,
outstanding on May 10, 2002.

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
<Page>
                              MOLDFLOW CORPORATION
                                   FORM 10-Q
                      FOR THE QUARTER ENDED MARCH 30, 2002

                               TABLE OF CONTENTS

<Table>
<Caption>
                                                                         PAGE
                                                                        NUMBER
                                                                       --------
<S>      <C>                                                           <C>
Part I. FINANCIAL INFORMATION
Item 1.  Financial Statements
         Condensed Consolidated Balance Sheet as of March 30, 2002
           and June 30, 2001.........................................      2
         Condensed Consolidated Statement of Income for the three
           months ended March 30, 2002 and March 31, 2001 and for the
           nine months ended March 30, 2002 and March 31, 2001.......      3
         Condensed Consolidated Statement of Cash Flows for the nine
           months ended March 30, 2002 and March 31, 2001............      4
         Notes to Condensed Consolidated Financial Statements........      5
Item 2.  Management's Discussion and Analysis of Financial Condition
           and Results of Operations.................................     13
Item 3.  Quantitative and Qualitative Disclosures About Market
           Risk......................................................     26

Part II. OTHER INFORMATION
Item 1.  Legal Proceedings...........................................     27
Item 2.  Changes in Securities and Use of Proceeds...................     27
Item 6.  Exhibits and Reports on Form 8-K............................     27
Signatures...........................................................     28
</Table>

                                       1
<Page>
                         PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                              MOLDFLOW CORPORATION

                      CONDENSED CONSOLIDATED BALANCE SHEET

                                 (IN THOUSANDS)

                                  (UNAUDITED)

<Table>
<Caption>
                                                              MARCH 30,   JUNE 30,
                                                                2002        2001
                                                              ---------   --------
<S>                                                           <C>         <C>
ASSETS
Current assets:
  Cash and cash equivalents.................................   $49,305    $32,969
  Marketable securities.....................................        --     12,750
  Accounts receivable, net..................................     6,919      7,241
  Prepaid expenses and other current assets.................     3,474      3,309
                                                               -------    -------
  Total current assets......................................    59,698     56,269
Fixed assets, net...........................................     4,094      4,027
Goodwill....................................................     8,789      8,003
Intangible assets, net......................................     1,536      2,814
Other assets................................................       570        342
                                                               -------    -------
  Total assets..............................................   $74,687    $71,455
                                                               =======    =======

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable..........................................   $ 1,641    $ 1,040
  Accrued expenses..........................................     6,392      6,346
  Deferred revenue..........................................     7,261      6,372
                                                               -------    -------
  Total current liabilities.................................    15,294     13,758
Other long-term liabilities.................................       131        104
                                                               -------    -------
  Total liabilities.........................................    15,425     13,862
                                                               -------    -------
Stockholders' equity:
  Common stock..............................................       101        101
  Additional paid-in capital................................    62,742     62,507
  Treasury stock, at cost...................................      (327)        --
  Deferred stock compensation...............................       (13)       (28)
  Notes receivable from stockholders........................       (28)       (37)
  Accumulated deficit.......................................    (3,123)    (4,752)
  Accumulated other comprehensive loss......................       (90)      (198)
                                                               -------    -------
  Total stockholders' equity................................    59,262     57,593
                                                               -------    -------
  Total liabilities and stockholders' equity................   $74,687    $71,455
                                                               =======    =======
</Table>

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.

                                       2
<Page>
                              MOLDFLOW CORPORATION

                   CONDENSED CONSOLIDATED STATEMENT OF INCOME

                     (IN THOUSANDS, EXCEPT PER SHARE DATA)

                                  (UNAUDITED)

<Table>
<Caption>
                                                        THREE MONTHS ENDED       NINE MONTHS ENDED
                                                       ---------------------   ---------------------
                                                       MARCH 30,   MARCH 31,   MARCH 30,   MARCH 31,
                                                         2002        2001        2002        2001
                                                       ---------   ---------   ---------   ---------
<S>                                                    <C>         <C>         <C>         <C>
Revenue:
  Software licenses..................................   $ 5,003     $ 7,220     $13,933     $19,170
  Services...........................................     4,442       3,874      12,852      11,166
                                                        -------     -------     -------     -------
  Total revenue......................................     9,445      11,094      26,785      30,336
                                                        -------     -------     -------     -------
Costs and expenses:
  Cost of software licenses revenue..................       605         418       1,911       1,179
  Cost of services revenue...........................       346         343         989       1,082
  Research and development...........................     1,765       1,586       4,594       4,765
  Selling and marketing..............................     4,651       5,245      13,858      14,186
  General and administrative.........................     1,630       1,604       5,046       4,679
  Amortization of goodwill and other intangible
    assets...........................................       164         380         492       1,139
                                                        -------     -------     -------     -------
  Total operating costs and expenses.................     9,161       9,576      26,890      27,030
                                                        -------     -------     -------     -------
Income (loss) from operations........................       284       1,518        (105)      3,306
Interest income, net.................................       288         629       1,143       1,589
Other income, net....................................       178          78       1,395         140
                                                        -------     -------     -------     -------
Income before income taxes...........................       750       2,225       2,433       5,035
Provision for income taxes...........................       248         674         804       1,661
                                                        -------     -------     -------     -------
  Net income.........................................   $   502     $ 1,551     $ 1,629     $ 3,374
                                                        =======     =======     =======     =======
Net income per common share:
  Basic..............................................     $0.05       $0.16       $0.16       $0.35
  Diluted............................................     $0.05       $0.15       $0.16       $0.34
Shares used in computing net income per common share:
  Basic..............................................    10,077      10,012      10,072       9,523
  Diluted............................................    10,403      10,495      10,360      10,033
</Table>

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.

                                       3
<Page>
                              MOLDFLOW CORPORATION

                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

                                 (IN THOUSANDS)

                                  (UNAUDITED)

<Table>
<Caption>
                                                                NINE MONTHS ENDED
                                                              ---------------------
                                                              MARCH 30,   MARCH 31,
                                                                2002        2001
                                                              ---------   ---------
<S>                                                           <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income..................................................   $ 1,629     $ 3,374
Adjustments to reconcile to net cash provided by operating
  activities:
  Gain on disposal of fixed assets..........................      (625)         --
  Gain on sale of long-term investment......................      (504)         --
  Loss on disposal of fixed assets..........................        --           7
  Depreciation and amortization.............................     1,453       1,956
  Provisions for doubtful accounts..........................       139          36
  Foreign exchange gains....................................      (317)       (190)
  Other non-cash charges to income..........................        67          --
  Changes in assets and liabilities, net of effects of
    acquisition:
    Accounts receivable.....................................       211      (3,526)
    Inventories, prepaid expenses and other current
      assets................................................       319      (1,618)
    Other assets............................................      (242)        (38)
    Accounts payable........................................       582         715
    Accrued expenses........................................       (90)      1,805
    Deferred revenue........................................       923       1,763
                                                               -------     -------
  Net cash provided by operating activities.................     3,545       4,284
                                                               -------     -------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of fixed assets.................................    (1,294)     (1,858)
  Proceeds from fixed asset disposals.......................       930          --
  Purchases of marketable securities........................        --     (15,528)
  Sales of marketable securities............................    12,318          --
  Proceeds from sale of long-term investment................       565       1,543
  Acquisition costs of C-Mold...............................        --        (278)
  Acquisition of Branden Technologies, net of cash
    acquired................................................        --      (3,665)
                                                               -------     -------
  Net cash provided by (used in) investing activities.......    12,519     (19,786)
                                                               -------     -------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from repayment of notes receivable from
    stockholder.............................................         9         190
  Borrowings on bank notes payable..........................        --           5
  Payments on bank notes payable............................        --        (897)
  Payments on capital lease obligations.....................        --          (9)
  Issuance of common stock..................................       372      12,853
  Repurchase of common stock................................      (464)         --
                                                               -------     -------
  Net cash (used in) provided by financing activities.......       (83)     12,142
                                                               -------     -------
Effect of exchange rate changes on cash and cash
  equivalents...............................................       355        (925)
                                                               -------     -------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS........    16,336      (4,285)
Cash and cash equivalents, beginning of period..............    32,969      27,259
                                                               -------     -------
Cash and cash equivalents, end of period....................   $49,305     $22,974
                                                               =======     =======
</Table>

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.

                                       4
<Page>
                              MOLDFLOW CORPORATION

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.  BASIS OF PRESENTATION AND NATURE OF BUSINESS

    Moldflow Corporation ("Moldflow" or the "Company") was incorporated in
Delaware, USA in January 1997 as the successor corporation to Moldflow
International Pty. Ltd., an Australian corporation. The Company was formed to
design, develop, manufacture and market computer software applications for the
design, engineering and manufacture of injection molded plastic parts and, as
such, revenues are derived from the plastic design and manufacturing industry.
The Company sells its products primarily to customers in the United States,
Europe, Asia and Australia.

    The accompanying unaudited condensed consolidated financial statements
include the accounts of Moldflow Corporation and its wholly owned subsidiaries.
The condensed consolidated financial statements have been prepared by the
Company in accordance with the rules and regulations of the Securities and
Exchange Commission ("SEC") regarding interim financial reporting. Accordingly,
they do not include all of the information and footnotes required by generally
accepted accounting principles for complete financial statements and should be
read in conjunction with the audited consolidated financial statements and notes
thereto for the year ended June 30, 2001 included in the Company's Annual Report
on Form 10-K. The June 30, 2001 condensed consolidated balance sheet was derived
from the Company's audited consolidated financial statements. In the opinion of
management, the accompanying unaudited condensed consolidated financial
statements contain all adjustments, consisting only of those of a normal
recurring nature, necessary for a fair presentation of results for the interim
periods presented. The results of operations for the three-month and nine-month
periods ended March 30, 2002 are not necessarily indicative of the results to be
expected for any future period or the full fiscal year.

    The Company's fiscal year end is June 30. During the fiscal year, the
Company follows a schedule in which each interim quarterly period ends on the
Saturday of the thirteenth full week of the reporting period.

2.  NET INCOME PER COMMON SHARE

    The following table presents the calculation for both basic and diluted net
income per common share:

<Table>
<Caption>
                                                        THREE MONTHS ENDED       NINE MONTHS ENDED
                                                       ---------------------   ---------------------
                                                       MARCH 30,   MARCH 31,   MARCH 30,   MARCH 31,
                                                         2002        2001        2002        2001
                                                       ---------   ---------   ---------   ---------
                                                           (IN THOUSANDS, EXCEPT PER SHARE DATA)
<S>                                                    <C>         <C>         <C>         <C>
Net income...........................................   $   502     $ 1,551     $ 1,629     $ 3,374
                                                        =======     =======     =======     =======
Weighted average shares used in computing net income
  per common share--basic............................    10,077      10,012      10,072       9,523
                                                        -------     -------     -------     -------
Effect of dilutive securities:
  Restricted stock...................................        11          52          21          76
  Stock options......................................       315         431         267         434
                                                        -------     -------     -------     -------
  Dilutive potential common shares...................       326         483         288         510
                                                        -------     -------     -------     -------
Weighted average shares used in computing net income
  per common share--diluted..........................    10,403      10,495      10,360      10,033
                                                        =======     =======     =======     =======
Net income per common share--basic...................     $0.05       $0.16       $0.16       $0.35
Net income per common share--diluted.................     $0.05       $0.15       $0.16       $0.34
</Table>

                                       5
<Page>
                              MOLDFLOW CORPORATION

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

3.  DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES

    The Company hedges a portion of its forecasted foreign currency denominated
intercompany sales and a portion of its foreign currency denominated
intercompany research and development payments over a period of up to twelve
months using currency options, zero cost collars and other combinations of
options that constitute net purchased options. These derivatives have been
designated as cash-flow hedges and, as such, the effective portion of the change
in their fair value is recorded as a component of accumulated other
comprehensive income until the underlying forecasted transaction impacts
earnings. Once the underlying forecasted transaction is realized, the
appropriate gain or loss from the derivative is reclassified from other
accumulated comprehensive income to current earnings as a component of other
income and expense. At the inception of the hedge transaction and on a quarterly
basis, the Company assesses whether the derivatives that are used in hedging
transactions are highly effective in offsetting the changes in cash flows of the
hedged items.

    Through the end of the fourth quarter of fiscal 2001, the Company assessed
hedge effectiveness based on changes in an instrument's intrinsic value. This is
the value attributable to the difference between the spot exchange rate and the
option strike exchange rate. At the hedge's inception and through the date of
the forecasted sales and research and development payments, management
considered that the hedge would be highly effective since the critical terms of
the option contracts match those of the anticipated transactions. Changes to the
time value of an instrument, defined as the total fair value determined through
dealer quotes less the intrinsic value, were deemed to be an ineffective portion
of the hedge and were recorded through current earnings as a component of other
income and expenses.

    From the end of the fourth quarter of fiscal 2001, the assessment of hedge
effectiveness is based on changes in an instrument's total value. Management
considers that, through the date of the forecasted sales and research and
development payments, the hedge will be completely effective since the critical
terms of the derivative contract exactly match those of the forecasted
transaction.

    If the Company determines that a cash flow hedge is no longer probable of
occurring or that the hedged instrument is no longer highly effective, the
Company discontinues hedge accounting for the effected portion of the forecasted
transaction, and any unrealized gain or loss on the contract is recognized in
current earnings as a component of other income and expenses. During the
three-month and nine-month periods ended March 20, 2002 and March 31, 2001,
there were no such discontinuations.

    At March 30, 2002, currency options and collars designated as hedging
instruments with notional amounts of $6,360,000, $38,437,000 and $7,328,000 to
exchange Euros, Japanese yen and Australian dollars for U.S. dollars,
respectively, were outstanding. The fair values of these instruments, as derived
from dealer quotations, have been recorded as components of other current assets
or other current liabilities, depending on the amount of the valuation. At
March 30, 2002, instruments with fair values of $445,906 and $(370,385) were
recorded as components of other current assets and other current liabilities,
respectively. Net unrealized gains on these instruments of $127,135 were
included in accumulated other comprehensive income. The Company expects these
instruments to affect earnings over the next nine months. During the three and
nine month periods ended March 30, 2002, gains of $123,000 and $199,000,
respectively, were recorded as components of other income and expense on the
effective portion of options that were settled. For the three-month and
nine-month periods ended March 30, 2002, a gain of $31,000 was recognized on the
ineffective portion of these options.

                                       6
<Page>
                              MOLDFLOW CORPORATION

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

3.  DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (CONTINUED)
    At March 31, 2001, currency options and collars designated as hedging
instruments with notional amounts of $2,887,000, $11,201,000 and $6,225,000 to
exchange Euros, Yen and Australian dollars for U.S. dollars, respectively, were
outstanding. The fair value of the outstanding options as of March 31, 2001 was
$383,000, which has been included in other current assets. Unrealized gains on
these instruments were $260,000. During the three months ended March 31, 2001, a
net loss of $3,000 related to these hedges was recorded as a component of other
income and expenses. The charge represented recognition of the ineffective
portion of the Company's outstanding options of $65,000, net of gains of $62,000
on options that were settled during the period. During the nine months ended
March 31, 2001, a net loss of $123,000 related to these hedges was recorded as a
component of other income and expenses. The charge represented recognition of
the ineffective portion of the Company's outstanding options of $243,000, net of
gains of $120,000 on options that were settled during the period.

4.  GOODWILL AND OTHER INTANGIBLE ASSETS

    During the first quarter of fiscal 2002, the Company adopted the provisions
of Statement of Financial Accounting Standards ("SFAS") No. 141, "Business
Combinations" and SFAS No. 142 "Goodwill and Other Intangible Assets." SFAS
No. 141 establishes the purchase method as the only acceptable methodology for
accounting for a business combination. In addition, SFAS No. 141 provides
guidance for allocating the cost of an acquired entity, including the
recognition and identification of goodwill and other intangible assets. Under
SFAS No. 141, an assembled workforce does not meet the criteria for recognition
as an intangible asset that is separable from goodwill. As such, at July 1,
2001, the Company reclassified to goodwill the carrying value of its previously
identified assembled workforces that were recognized in the Company's
acquisitions of C-Mold and Branden Technologies (Note 5). As a result of this
reclassification, the recorded value of goodwill increased by $786,000.

    SFAS No. 142 addresses accounting and reporting for goodwill and other
intangible assets at and subsequent to the date of acquisition. SFAS No. 142
provides guidance in determining the useful life of intangible assets, stating
that some intangible assets may have an indefinite useful life to a company.
SFAS No. 142 also eliminates amortization of goodwill and introduces a two-step
impairment test model. Companies have six months from the date of adoption of
SFAS No. 142 to complete a transitional goodwill impairment test, which is
applied as of the beginning of the fiscal year in which the standard is first
adopted. Subsequently, companies must conduct goodwill impairment tests on an
annual basis.

    In adopting SFAS No. 142, the Company conducted the required transitional
impairment test as of July 1, 2001, concluding that no impairment of the
goodwill acquired in the acquisitions of C-Mold and Branden Technologies had
occurred. The Company ceased the amortization of goodwill as of July 1, 2001 and
reviewed the other intangible assets acquired in the aforementioned
transactions, concluding that no change need be made to the previously estimated
useful lives of those items.

                                       7
<Page>
                              MOLDFLOW CORPORATION

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

4.  GOODWILL AND OTHER INTANGIBLE ASSETS (CONTINUED)
    The following table reflects the unaudited adjusted net income of the
Company, giving effect to SFAS No. 142 as if it were adopted on July 1, 2000:

<Table>
<Caption>
                                                        THREE MONTHS ENDED       NINE MONTHS ENDED
                                                       ---------------------   ---------------------
                                                       MARCH 30,   MARCH 31,   MARCH 30,   MARCH 31,
                                                         2002        2001        2002        2001
                                                       ---------   ---------   ---------   ---------
                                                           (IN THOUSANDS, EXCEPT PER SHARE DATA)
<S>                                                    <C>         <C>         <C>         <C>
Net income, as reported..............................    $ 502      $1,551      $1,629      $3,374
Add back: goodwill amortization expense, net of
  tax................................................       --         168          --         499
Add back: assembled workforce amortization expense,
  net of tax.........................................       --          34          --         100
                                                         -----      ------      ------      ------
Net income, as adjusted..............................    $ 502      $1,753      $1,629      $3,973
                                                         =====      ======      ======      ======
Basic net income per common share:
  As reported........................................    $0.05      $ 0.16      $ 0.16      $ 0.35
  As adjusted........................................       --      $ 0.18          --      $ 0.42

Diluted net income per common share:
  As reported........................................    $0.05      $ 0.15      $ 0.16      $ 0.34
  As adjusted........................................       --      $ 0.17          --      $ 0.40
</Table>

    The following table summarizes the gross and net carrying values of
intangible assets subject to amortization as of March 30, 2002:

<Table>
<Caption>
                                                 GROSS
                                                CARRYING   ACCUMULATED
                                                 VALUE     AMORTIZATION   NET VALUE
                                                --------   ------------   ---------
                                                          (IN THOUSANDS)
<S>                                             <C>        <C>            <C>
Developed technology..........................   $  975       $ (368)      $  607
Non-compete agreements........................    1,161         (514)         647
Customer base.................................      330          (48)         282
                                                 ------       ------       ------
                                                 $2,466       $ (930)      $1,536
                                                 ======       ======       ======
</Table>

    The following table summarizes the expected remaining amortization of other
intangible assets as of March 30, 2002:

<Table>
<Caption>
                                                                ESTIMATED
                                                               AMORTIZATION
FISCAL YEAR                                                      EXPENSE
-----------                                                   --------------
                                                              (IN THOUSANDS)
<S>                                                           <C>
2002 (remainder)............................................      $  164
2003........................................................         585
2004........................................................         352
2005........................................................         195
2006........................................................          93
Thereafter..................................................         147
                                                                  ------
                                                                  $1,536
                                                                  ======
</Table>

                                       8
<Page>
                              MOLDFLOW CORPORATION

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

5.  ACQUISITIONS

    On April 13, 2000, the Company acquired Advanced CAE Technology, Inc., which
had been conducting business as C-Mold, for $11.3 million in cash. On March 28,
2001, the Company acquired all of the outstanding shares of Branden
Technologies, Inc. ("Branden"), located in Wilsonville, Oregon, for a total of
$3.7 million in cash, $1.1 million of which was used to retire all of Branden's
outstanding debt. Both acquisitions were accounted for using the purchase method
of accounting, and the results of the acquired entities have been included in
the Company's consolidated financial statements since their respective dates of
acquisition.

6.  SOFTWARE DEVELOPMENT COSTS

    Costs associated with the research and development of the Company's products
are expensed as incurred. Costs associated with the development of computer
software are expensed prior to establishing technological feasibility, as
defined by SFAS No. 86, "Accounting for the Costs of Computer Software to be
Sold, Leased, or Otherwise Marketed," and capitalized thereafter until
commercial release of the software products. Software development costs eligible
for capitalization prior to the first quarter of fiscal 2002 were not
significant. The Company established technological feasibility of Moldflow
Plastics Insight version 3.0 ("MPI 3.0") in the first quarter of fiscal 2002 and
released the product commercially in November 2002. In accordance with SFAS
No. 86, research and development costs of $602,000 were capitalized during the
nine months ended March 30, 2002. These costs are being amortized to cost of
software licenses revenue over the estimated economic life of the product.

7.  COMMON STOCK AND STOCK PLANS

    On September 19, 2001, the Board of Directors authorized the Company to
repurchase up to 500,000 shares of its outstanding common stock, pursuant to
which the Company reacquired 50,000 shares for $464,000, at an average cost of
$9.28 per share, through March 30, 2002.

    A summary of the Company's stock option activity for the three-month and
nine-month periods ended March 30, 2002 follows:

<Table>
<Caption>
                                               THREE MONTHS ENDED               NINE MONTHS ENDED
                                                 MARCH 30, 2002                  MARCH 30, 2002
                                          -----------------------------   -----------------------------
                                                       WEIGHTED AVERAGE                WEIGHTED AVERAGE
                                            SHARES      EXERCISE PRICE      SHARES      EXERCISE PRICE
                                          ----------   ----------------   ----------   ----------------
<S>                                       <C>          <C>                <C>          <C>
Outstanding at beginning of period......   1,614,146        $12.37         1,116,460        $12.07
Granted.................................     100,700         13.40           650,700         12.85
Exercised...............................      (1,729)         0.97           (15,651)         1.26
Canceled................................     (13,595)         8.38           (51,987)        15.73
                                          ----------                      ----------
Outstanding at end of period............   1,699,522         12.35         1,699,522         12.35
                                          ==========                      ==========
Options exercisable at end of period....     497,807
Options available for future grant......     941,554
</Table>

                                       9
<Page>
                              MOLDFLOW CORPORATION

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

7.  COMMON STOCK AND STOCK PLANS (CONTINUED)

EMPLOYEE STOCK PURCHASE PLAN

    On January 20, 2000, the Board of Directors approved the Moldflow
Corporation Employee Stock Purchase Plan (the "ESPP") with an authorization of
up to 500,000 shares of common stock. The ESPP is open to all eligible employees
of the Company. Under the ESPP, each employee may elect to have up to 10% of his
or her base salary withheld and applied toward the purchase of shares within
each six-month offering period. The purchase price per share is determined based
on 85% of the lower of the fair market value of the stock on the first or the
last day of each offering period. In fiscal 2001, 10,825 shares were issued on
January 2, 2001, at a purchase price of $13.60 per share. On July 6, 2001,
13,498 shares were issued under the ESPP at a purchase price of $13.10 per
share. On January 2, 2002, 14,638 shares were issued under the ESPP at a
purchase price of $12.07 per share from the Company's reacquired shares.

8.  COMPREHENSIVE INCOME

    Comprehensive income is comprised of net income and other comprehensive
income and losses. Other comprehensive income includes certain changes in equity
that are excluded from net income, such as cumulative foreign currency
translation adjustments. Other comprehensive income also includes unrealized
gains and losses on the Company's hedging instruments and on the Company's
marketable securities.

    The following table presents the calculation of comprehensive income:

<Table>
<Caption>
                                        THREE MONTHS ENDED       NINE MONTHS ENDED
                                       ---------------------   ---------------------
                                       MARCH 30,   MARCH 31,   MARCH 30,   MARCH 31,
                                         2002        2001        2002        2001
                                       ---------   ---------   ---------   ---------
                                                      (IN THOUSANDS)
<S>                                    <C>         <C>         <C>         <C>
Net income...........................   $   502     $ 1,551     $ 1,629     $ 3,374
Other comprehensive income (loss):
  Changes in fair value of marketable
    securities, net of related tax
    effect...........................       (11)       (224)       (327)     (2,002)
  Changes in value of financial
    instruments designated as hedges,
    net of related tax effect........       (84)        195         (16)        260
  Foreign currency translation
    adjustment.......................       482        (987)        452      (1,364)
                                        -------     -------     -------     -------
  Other comprehensive income
    (loss)...........................       387      (1,016)        109      (3,106)
                                        -------     -------     -------     -------
Comprehensive income.................   $   889     $   535     $ 1,738     $   268
                                        =======     =======     =======     =======
</Table>

9.  UNSECURED CREDIT FACILITY

    In November 2001, the Company completed the restructuring of its existing
working capital credit facility, establishing a new, unsecured $5.0 million
facility with the same domestic bank. The available borrowing base of the
facility is subject to a calculation which is based upon eligible accounts
receivable. Advances may be in the form of loans, letters of credit, foreign
exchange contracts or other cash management lines. Loans against the facility
bear interest at the prime rate. The facility includes certain restrictive
covenants, all of which the Company was in compliance with as of March 30, 2002.

                                       10
<Page>
                              MOLDFLOW CORPORATION

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

9.  UNSECURED CREDIT FACILITY (CONTINUED)
These covenants include certain liquidity and profitability measures and
restrictions that limit the ability of the Company to merge, acquire or sell
assets without prior approval from the bank. As of March 30, 2002, the Company
had employed $2.7 million of the available borrowing base through outstanding
foreign exchange contracts and letters of credit. As of March 30, 2002, there
were no loans advanced against the facility and the remaining available
borrowing base was $2.3 million.

10.  SEGMENT AND GEOGRAPHIC INFORMATION

    The Company is engaged in one reportable industry segment: the development,
marketing and support of software products for the plastic design and
manufacturing industry.

    Geographic information regarding the Company's operations follows:

<Table>
<Caption>
                                             THREE MONTHS ENDED       NINE MONTHS ENDED
                                            ---------------------   ---------------------
                                            MARCH 30,   MARCH 31,   MARCH 30,   MARCH 31,
                                              2002        2001        2002        2001
                                            ---------   ---------   ---------   ---------
                                                           (IN THOUSANDS)
<S>                                         <C>         <C>         <C>         <C>
REVENUE FROM UNAFFILIATED CUSTOMERS:
Asia/Australia
  Software licenses.......................   $2,011      $ 2,706     $ 5,050     $ 6,727
  Services................................    1,157        1,128       3,470       3,067
                                             ------      -------     -------     -------
  Total Asia/Australia....................    3,168        3,834       8,520       9,794
                                             ------      -------     -------     -------
USA
  Software licenses.......................    1,336        2,204       3,578       5,666
  Services................................    1,738        1,424       4,967       4,395
                                             ------      -------     -------     -------
  Total USA...............................    3,074        3,628       8,545      10,061
                                             ------      -------     -------     -------
Europe
  Software licenses.......................    1,656        2,311       5,305       6,777
  Services................................    1,547        1,321       4,415       3,704
                                             ------      -------     -------     -------
  Total Europe............................    3,203        3,632       9,720      10,481
                                             ------      -------     -------     -------
Consolidated
  Software licenses.......................    5,003        7,220      13,933      19,170
  Services................................    4,442        3,874      12,852      11,166
                                             ------      -------     -------     -------
  Total consolidated......................   $9,445      $11,094     $26,785     $30,336
                                             ======      =======     =======     =======
</Table>

<Table>
<Caption>
                                            MARCH 30,   MARCH 31,
                                              2002        2001
                                            ---------   ---------
<S>                                         <C>         <C>         <C>        <C>
FIXED ASSETS, NET:
  Asia/Australia..........................   $1,696      $ 2,022
  USA.....................................    1,326        1,404
  Europe..................................    1,072          443
                                             ------      -------
  Total consolidated......................   $4,094      $ 3,869
                                             ======      =======
</Table>

11.  RECENT ACCOUNTING PRONOUNCEMENTS

   In October 2001, the FASB issued SFAS No. 144, "Accounting for the Impairment
or Disposal of Long-Lived Assets." The objectives of SFAS No. 144 are to address
significant issues relating to the implementation of SFAS No. 121, "Accounting
for the Impairment of Long-Lived Assets and for Long-

                                       11
<Page>
                              MOLDFLOW CORPORATION

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

11.  RECENT ACCOUNTING PRONOUNCEMENTS (CONTINUED)
Lived Assets to Be Disposed Of," and to develop a single accounting model, based
on the framework established in SFAS No. 121, for long-lived assets to be
disposed of by sale, whether previously held and used or newly acquired. SFAS
No. 144 is effective for financial statements issued for fiscal years beginning
after December 15, 2001 and, generally, its provisions are to be applied
prospectively. Management is currently determining what effect, if any, SFAS
No. 144 will have on its financial position and results of operations.

12.  SUBSEQUENT EVENTS

    On April 19, 2002, the Company announced a corporate restructuring plan. The
plan includes the involuntary termination of 36 employees, closing certain
leased offices and reducing the size of other leased offices. The Company
expects to record a non-recurring charge of up to $1.4 million in the fourth
fiscal quarter for these activities.

    On May 2, 2002, the Company received a payment of $0.5 million in relation
to the settlement of certain escrow claims related to the Company's acquisition
of C-Mold (Note 5) which will be recorded primarily as other income in the
fourth fiscal quarter.

                                       12
<Page>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

FORWARD-LOOKING STATEMENTS

    This Quarterly Report on Form 10-Q contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
21E of the Securities Exchange Act of 1934, as amended. You can identify these
statements by forward-looking words such as "may," "will," "expect,"
"anticipate," "believe," "estimate," and "continue" or similar words. You should
read statements that contain these words carefully because they discuss our
future expectations, contain projections of our future results of operations or
of our financial condition, or state other "forward-looking" information. We
believe that it is important to communicate our future expectations to our
investors. However, there may be events in the future that we are not able to
accurately predict or control and that may cause our actual results to differ
materially from the expectations we describe in our forward-looking statements.
Investors are cautioned that all forward-looking statements involve risks and
uncertainties, and actual results may differ materially from those discussed as
a result of various factors, including those factors described in "Risk Factors
and Important Factors That May Affect Future Results" beginning on page 22.
Readers should not place undue reliance on our forward-looking statements.

BUSINESS OVERVIEW

    Our primary business is the development, sale and support of software
applications for the design and manufacture of injection molded plastic parts.
Our Design Optimization Solutions products allow a product designer or engineer
to simulate the manufacture of a plastic part to determine the optimal part
design and part/mold combination. Our Manufacturing Solutions products allow
plant engineers and managers to maintain and optimize manufacturing conditions
throughout the manufacturing process.

    We develop software products internally and through cooperative research
relationships with a number of public and private educational and research
organizations around the world. Prior to June 1997, our products consisted
solely of our Moldflow Plastics Insight ("MPI") series for in-depth mold design.
Since then, we have introduced additional modules of our MPI product series and
have also introduced other new product lines. Our Moldflow Plastics Advisers
("MPA") series for part design and high level mold design was introduced in
fiscal 1997 and our Moldflow Plastics Xpert ("MPX") series for production set-up
and production monitoring was introduced in fiscal 1999. In fiscal 2000, we
introduced plasticszone.com, a business and productivity website for
professionals working with injection molded plastics. The plasticszone.com site
currently offers five primary services, including one which provides our
customers with access to our IMPA product, an application service provider, or
ASP, version of one of our MPA series of products. In fiscal 2001, two
additional products were launched under the Moldflow brand, Shotscope and
EZ-Track. Shotscope, the primary product of Branden Technologies, a company we
acquired in March 2001, is a product that monitors, analyzes, and assists in the
scheduling of injection molding production processes. EZ-Track, developed
jointly by Moldflow and Branden, provides real-time, plant-wide production
monitoring and reporting. We categorize these products into two groups: Design
Optimization Solutions, which includes the MPA and MPI series, and Manufacturing
Solutions, which includes the MPX, Shotscope and EZ-Track products.

    We sell our products and services internationally through our direct sales
operations in 14 countries. We also sell through a network of distributors and
value-added resellers and through distribution arrangements with developers of
other design software products.

    We generate revenue from two principal sources:

    - license fees for our packaged software products, and

    - services revenue derived from maintenance and support services related to
      our software products, consulting, training and material testing.

                                       13
<Page>
CRITICAL ACCOUNTING POLICIES AND SIGNIFICANT JUDGMENTS AND ESTIMATES

    The preparation of consolidated financial statements requires estimates and
judgments that affect the reported amounts of assets, liabilities, revenues and
expenses, and related disclosure of contingent assets and liabilities. On an
on-going basis, management evaluates its estimates and judgments, including
those related to bad debts, inventories, income taxes, intangible assets, and
contingencies and litigation. We base our estimates on historical experience and
on various other assumptions that are believed to be reasonable under the
circumstances, the results of which form the basis for making judgments about
the carrying values of assets and liabilities that are not readily apparent from
other sources. Actual results may differ from these estimates.

    A summary of our accounting policies that we believe are most critical to
understanding fully our consolidated financial statements are as follows:

    - Revenue recognition,

    - Valuation allowances,

    - Acquisition accounting,

    - Impairment of long-lived assets, intangible assets and goodwill, and

    - Hedging accounting

    REVENUE RECOGNITION

    Revenue is derived from the licensing of computer software products and from
services consisting of maintenance and support, consulting, material testing and
training. The Company follows AICPA Statement of Position ("SOP") 97-2,
"Software Revenue Recognition," as amended by SOP No. 98-9, "Modification of SOP
No. 97-2, Software Revenue Recognition, with Respect to Certain Transactions"
("SOP 98-9"), both of which provide guidance on applying generally accepted
accounting principles in recognizing revenue on software transactions.

    The Company recognizes revenue from sales of software licenses upon product
shipment provided that evidence of the purchase commitment exists, the license
fee is fixed or determinable, collection is probable and all other revenue
recognition criteria of SOP 97-2 are met. The Company's software products do not
require significant modification or customization. Installation of the products
is generally routine and requires insignificant effort. The Company recognizes
revenue from maintenance and support contracts ratably over the related contract
period and from training and other services as they are performed.

    Maintenance and support contracts are often entered into at the same time as
the sale of software licenses. In accordance with SOP 97-2, the Company
considers these multiple elements of a single arrangement. Payment for this
arrangement is typically received up-front, and the total fee is then allocated
ratably to these elements based upon vendor-specific objective evidence of fair
value ("VSOE") for each, which is determined based upon the prices charged to
customers when these elements are sold separately; the revenue allocated to each
is then recognized as described above for these elements.

    When VSOE does not exist for all elements of an arrangement, the Company
employs the "residual method" of accounting for revenue recognition, as defined
by SOP 98-9. The residual method requires that the portion of the total
arrangement fee attributable to the undelivered elements, as indicated by VSOE,
is deferred and subsequently recognized in accordance with SOP 97-2. The
difference between the total arrangement fee and the amount deferred for the
undelivered elements is recognized as revenue related to the delivered elements,
if all other revenue recognition criteria of SOP 97-2 are met. VSOE for the
undelivered elements is determined based on the prices charged to

                                       14
<Page>
customers when these elements are sold separately, typically from the renewal of
the annual maintenance and support contracts.

    VALUATION ALLOWANCES

    Management must estimate the amount of our accounts receivable which may be
uncollectible due to the inability of our customers to make payments. We review
the composition of accounts receivable and analyze historical bad debts,
customer concentrations, customer credit-worthiness, current economic trends and
changes in our customer payment patterns when evaluating the adequacy of the
allowance for doubtful accounts. We record the allowance for doubtful accounts
on a specific identification basis. If the financial condition of our customers
deteriorates after entering into a revenue arrangement resulting in an
impairment of their ability to make payments beyond that estimated by
management, additional allowances may be required. Significant judgments and
estimates are involved in assessing the collectibility of customer transactions.
Different assumptions could yield materially different results. Our accounts
receivable balance was $6.9 million, net of allowance for doubtful accounts of
$0.4 million, as of March 30, 2002.

    Management writes down its inventory for estimated obsolescence or
unmarketable inventory equal to the difference between the cost of inventory and
the estimated market value based upon assumptions about future demand and market
conditions. If actual market conditions are less favorable than those projected
by management, additional inventory write-downs may be required. Our inventory
balance was $0.7 million as of March 30, 2002, which was included as a component
of prepaid expenses and other current assets.

    Management records a valuation allowance to reduce our deferred tax assets
to the amount that is more likely than not to be realized. Based upon the
Company's historical results of operations, it is more likely than not that a
substantial amount of our deferred tax assets will not be realized. Management
believes that the net deferred tax asset represents the best estimate, based
upon the weight of available evidence, of the deferred tax asset that will be
realized. If such evidence were to change, based upon near-term operating
results and longer-term projections, the amount of the valuation allowance
recorded against the gross deferred tax asset may be decreased or increased.

    ACQUISITION ACCOUNTING

    On April 13, 2000, the Company acquired all of the outstanding shares of
Advanced CAE Technology, Inc., which formerly conducted business as "C-Mold." On
March 28, 2001, the Company acquired all of the outstanding shares of Branden
Technologies, Inc. These business combinations were accounted for using the
purchase method of accounting. Accordingly, our consolidated financial
statements present together with the Company the financial position and results
of operations of C-Mold and Branden from the dates of their respective
acquisition.

    In both acquisitions, the purchase price of the acquired business was
allocated to the assets acquired and liabilities assumed at their fair values on
the date of the acquisition. The fair values of these items were based upon
management's estimates and, in certain cases, an independent professional
valuation. Certain of the acquired assets were intangible in nature, including
developed technologies, assembled workforces, acquired customer base and
non-compete agreements. Management employed a number of valuation methodologies
in determining the fair value of these intangible assets. The fair value of the
acquired developed technologies was based upon a discounted cash flow model.
Assembled workforces (later reclassified to goodwill) and the acquired customer
base were valued using estimated replacement costs. Non-compete agreements were
based upon the salaries of the individuals subject to the agreement and its
length. The excess purchase price over the amounts allocated to the assets
acquired and liabilities assumed was recorded as goodwill.

                                       15
<Page>
    All such valuation methodologies, including the determination of subsequent
amortization periods, involve significant judgments and estimates. Different
assumptions could yield materially different results.

    IMPAIRMENT OF LONG-LIVED ASSETS, INTANGIBLE ASSETS AND GOODWILL

    Management assesses the impairment of identifiable intangible assets,
long-lived assets and goodwill whenever events or changes in circumstances
indicate that the carrying value may not be recoverable. Factors we consider
important which could trigger an impairment review include the following:

    - Significant underperformance relative to expected historical or projected
      future operating results;

    - Significant changes in the manner of our use of the acquired assets or the
      strategy for our overall business; and

    - Significant negative industry or economic trends.

When we determine that the carrying value of intangibles, long-lived assets and
goodwill may not be recoverable based upon the existence of one or more of the
above indicators of potential impairment, we assess whether an impairment has
occurred. Our assessment is based on whether net book value of the assets
exceeds related projected undiscounted cash flows from these assets, considering
a number of factors including past operating results, budgets, economic
projections, market trends and product development cycles. These assessments and
the related analyses involve significant judgments and estimates. Different
assumptions could yield materially different results. Net intangible assets and
goodwill were $10.3 million as of March 30, 2002.

    HEDGE ACCOUNTING

    We hedge a portion of our forecasted foreign currency denominated
intercompany sales and a portion of our foreign currency denominated
intercompany research and development payments with derivative financial
instruments. As the hedging activities are based upon forecasts, a significant
amount of judgment and estimation is required. If these judgments or estimates
are incorrect, or if the hedging transactions are not highly effective in
offsetting the changes in cash flows of the hedged items, amounts currently
recorded as unrealized gains and losses may be realized in our earnings.
Additional information regarding hedging can be found in the Notes to Condensed
Consolidated Financial Statements in this Form 10-Q (Note 3).

                                       16
<Page>
RESULTS OF OPERATIONS

    The following table sets forth statement of operations data for the periods
indicated as a percentage of total revenues:

<Table>
<Caption>
                                        THREE MONTHS ENDED       NINE MONTHS ENDED
                                       ---------------------   ---------------------
                                       MARCH 30,   MARCH 31,   MARCH 30,   MARCH 31,
                                         2002        2001        2002        2001
                                       ---------   ---------   ---------   ---------
<S>                                    <C>         <C>         <C>         <C>
Revenue:
  Software licenses..................     53.0%       65.1%       52.0%       63.2%
  Services...........................     47.0        34.9        48.0        36.8
                                         -----       -----       -----       -----
  Total revenue......................    100.0%      100.0%      100.0%      100.0%
                                         =====       =====       =====       =====

Costs and expenses:
  Cost of software licenses
    revenue..........................      6.4%        3.8%        7.1%        3.9%
  Cost of services revenue...........      3.7         3.1         3.7         3.5
  Research and development...........     18.7        14.3        17.2        15.7
  Selling and marketing..............     49.2        47.4        51.7        46.8
  General and administrative.........     17.3        14.5        18.9        15.4
  Amortization of goodwill and other
    intangible assets................      1.7         3.4         1.8         3.8
                                         -----       -----       -----       -----
  Total operating expenses...........     97.0        86.3       100.4        89.1
                                         -----       -----       -----       -----
Income (loss) from operations........      3.0        13.7        (0.4)       10.9
Interest income, net.................      3.0         5.7         4.3         5.2
Other income, net....................      1.9         0.7         5.2         0.5
                                         -----       -----       -----       -----
Income before income taxes...........      7.9        20.1         9.1        16.6
Provision for income taxes...........      2.6         6.1         3.0         5.5
                                         -----       -----       -----       -----
  Net income.........................      5.3%       14.0%        6.1%       11.1%
                                         =====       =====       =====       =====
</Table>

THREE MONTHS ENDED MARCH 30, 2002 COMPARED TO THREE MONTHS ENDED MARCH 31, 2001

    REVENUE.  Total revenue decreased by 15%, or $1.7 million, to $9.4 million
for the three months ended March 30, 2002, from $11.1 million for the three
months ended March 31, 2001. In the same period, software licenses revenue
decreased by 31%, or $2.2 million, to $5.0 million from $7.2 million. The
following table sets forth our software licenses revenue by product group:

<Table>
<Caption>
                                                             THREE MONTHS ENDED
                                                           -----------------------
                                                           MARCH 30,    MARCH 31,
                                                              2002         2001
                                                           ----------   ----------
                                                               (IN THOUSANDS,
                                                           EXCEPT PERCENTAGE DATA)
<S>                                                        <C>          <C>
Software licenses revenue:
  Design Optimization Solutions..........................    $4,203       $6,866
  Manufacturing Solutions................................       800          354
                                                             ------       ------
  Total..................................................    $5,003       $7,220
                                                             ======       ======
Percent of total software licenses revenue:
  Design Optimization Solutions..........................      84.0%        95.0%
  Manufacturing Solutions................................      16.0          5.0
                                                             ------       ------
  Total..................................................     100.0%       100.0%
                                                             ======       ======
</Table>

                                       17
<Page>
    The demand for our products is largely driven by demand in our primary end
markets. Many of these end markets, particularly the automotive,
telecommunications and electronics industries, have experienced severe economic
declines over the last two years. This continued downturn significantly
contributed to the decrease in licensing revenue in the third quarter of fiscal
2002. A continuation of this general economic slowdown could materially and
adversely affect us in the future by decreasing our revenue.

    Services revenue increased by 15%, or $568,000, to $4.4 million for the
three months ended March 30, 2002, from $3.9 million for the three months ended
March 31, 2001. This increase was due primarily to an increase in the amount of
revenue derived from maintenance and support contracts resulting from the growth
in our software licenses revenue and our installed-user base in fiscal 2001.

    No customer accounted for more than 10% of the total revenue during the
three-month periods ended March 30, 2002 and March 31, 2001.

    COST OF REVENUE.  The cost of software licenses revenue increased 45%, or
$187,000, to $605,000 for the three months ended March 30, 2002, from $418,000
for the three months ended March 31, 2001. This increase was primarily
attributable to increased sales of our Manufacturing Solutions products, which
include hardware components and therefore have a higher cost of materials than
our Design Optimization Solutions products. We expect that sales of our
Manufacturing Solutions products will continue to represent a significant
portion of our total revenues. Since these products include hardware components
and therefore have a higher cost of materials, we expect our gross margins on
product revenue to remain consistent with or slightly lower than the gross
margin experienced in the quarter ended March 30, 2002.

    The cost of services revenue increased 1%, or $3,000, to $346,000 for the
three months ended March 30, 2002, from $343,000 for the three months ended
March 31, 2001.

    RESEARCH AND DEVELOPMENT.  Research and development expenses increased 11%,
or $179,000, to $1.8 million for the three months ended March 30, 2002, from
$1.6 million for the three months ended March 31, 2001. This increase was
primarily due to increased headcount arising from our acquisition of Branden
Technologies.

    SELLING AND MARKETING.  Selling and marketing expenses decreased 11%, or
$594,000, to $4.7 million for the three months ended March 30, 2002, from
$5.2 million for the three months ended March 31, 2001. This decrease was
primarily due to a reduction in sales commissions due to the decline in revenue.

    GENERAL AND ADMINISTRATIVE.  General and administrative expenses of
$1.6 million for the three months ended March 30, 2002 were unchanged from the
three months ended March 31, 2001.

    AMORTIZATION OF GOODWILL AND OTHER INTANGIBLE ASSETS.  These costs represent
the amortization of intangible assets recorded in connection with our
acquisitions, including developed technology and protective covenants and, in
fiscal 2001, goodwill and assembled workforce. Amortization expense decreased
57%, or $216,000, to $164,000 for the three months ended March 30, 2002 from
$380,000 for the three months ended March 31, 2001. This decrease was due to the
Company's adoption of SFAS No. 142, "Goodwill and Other Intangible Assets,"
under which goodwill is no longer amortized.

    INTEREST INCOME, NET.  Interest income, net decreased 54%, or $341,000, to
$288,000 for the three months ended March 30, 2002 from $629,000 for the three
months ended March 31, 2001. The decrease was primarily the result of declining
interest rates and the conversion of marketable securities to cash and other
highly liquid instruments.

    OTHER INCOME, NET.  Other income, net increased to $178,000 for the three
months ended March 30, 2002 from $78,000 from the three months ended March 31,
2001. Other income, net includes

                                       18
<Page>
realized and unrealized exchange gains and losses on intercompany account
balances and recognized gains and losses on our foreign exchange hedging
instruments.

    PROVISION FOR INCOME TAXES.  The provision for income taxes decreased 63%,
or $426,000, to $248,000 for the three months ended March 30, 2002 from $674,000
for the three months ended March 31, 2001. Our effective income tax rate was 33%
for the three months ended March 30, 2002 and 30% for the corresponding period
of the prior year.

NINE MONTHS ENDED MARCH 30, 2002 COMPARED TO NINE MONTHS ENDED MARCH 31, 2001

    REVENUE.  Total revenue decreased by 12%, or $3.6 million, to $26.8 million
for the nine months ended March 30, 2002, from $30.3 million for the nine months
ended March 31, 2001. In the same period, software licenses revenue decreased by
27%, or $5.2 million, to $13.9 million from $19.2 million. The following table
sets forth our software licenses revenue by product group:

<Table>
<Caption>
                                                              NINE MONTHS ENDED
                                                           -----------------------
                                                           MARCH 30,    MARCH 31,
                                                              2002         2001
                                                           ----------   ----------
                                                               (IN THOUSANDS,
                                                           EXCEPT PERCENTAGE DATA)
<S>                                                        <C>          <C>
Software licenses revenue:
  Design Optimization Solutions..........................   $11,607      $17,879
  Manufacturing Solutions................................     2,326        1,291
                                                            -------      -------
  Total..................................................   $13,933      $19,170
                                                            =======      =======
Percent of total software licenses revenue:
  Design Optimization Solutions..........................      83.3%        93.3%
  Manufacturing Solutions................................      16.7          6.7
                                                            -------      -------
  Total..................................................     100.0%       100.0%
                                                            =======      =======
</Table>

    The aforementioned economic declines in the industries of our primary
customers contributed to the decrease in licensing revenue in the first nine
months of fiscal 2002. In addition, the terrorist attacks on the United States
caused widespread uncertainty in the world financial markets, and significantly
disrupted the normal purchasing patterns of our customers in our first fiscal
quarter.

    Services revenue increased by 15%, or $1.7 million, to $12.9 million for the
nine months ended March 30, 2002, from $11.2 million for the nine months ended
March 31, 2001. This increase was due primarily to an increase in the amount of
revenue derived from maintenance and support contracts resulting from the growth
in our software licenses revenue and our installed-user base in fiscal 2001.

    No customer accounted for more than 10% of the total revenue during the
nine-month periods ended March 30, 2002 and March 31, 2001.

    COST OF REVENUE.  The cost of software licenses revenue increased 62%, or
$732,000, to $1.9 million for the nine months ended March 30, 2002, from
$1.2 million for the nine months ended March 31, 2001. This increase was
primarily attributable to increased sales of our Manufacturing Solutions
products, which include hardware components and therefore have a higher cost of
materials than our Design Optimization Solutions products. The cost of services
revenue decreased 9%, or $93,000, to $989,000 for the nine months ended
March 30, 2002, from $1.1 million for the nine months ended March 31, 2001. This
decrease was a result of fewer personnel.

    RESEARCH AND DEVELOPMENT.  Research and development expenses decreased 4%,
or $171,000, to $4.6 million for the nine months ended March 30, 2002, from
$4.8 million for the nine months ended March 31, 2001. This decrease was
primarily attributable to the capitalization of research and

                                       19
<Page>
development costs under the provisions of SFAS No. 86 which, along with
reductions in travel and other discretionary spending, more than offset
additional personnel costs resulting from our acquisition of Branden
Technologies. In the first quarter of fiscal 2002, the Company established
technological feasibility on Moldflow Plastics Insight version 3.0 ("MPI 3.0")
releasing the product commercially in November 2001. In accordance with SFAS
No. 86, research and development costs of $602,000 incurred during the nine
months ended March 30, 2002 were capitalized and included as a component of
fixed assets. These costs are being amortized to cost of software license
revenue over the estimated economic life of the product.

    SELLING AND MARKETING.  Selling and marketing expenses decreased 2%, or
$328,000, to $13.9 million for the nine months ended March 30, 2002, from
$14.2 million for the nine months ended March 31, 2001. This decrease was
primarily due to a reduction in sales commissions driven by the decline in
revenue.

    GENERAL AND ADMINISTRATIVE.  General and administrative expenses increased
8%, or $367,000, to $5.0 million for the nine months ended March 30, 2002, from
$4.7 million for the nine months ended March 31, 2001. This increase was due to
additional personnel costs and increased premiums for director and officer
liability insurance.

    AMORTIZATION OF GOODWILL AND OTHER INTANGIBLE ASSETS.  These costs represent
the amortization of intangible assets recorded in connection with our
acquisitions, including developed technology and protective covenants and, in
fiscal 2001, goodwill and assembled workforce. Amortization expense decreased
57%, or $647,000, to $492,000 for the nine months ended March 30, 2002 from
$1.1 million for the nine months ended March 31, 2001. This decrease was due to
the Company's adoption of SFAS No. 142, "Goodwill and Other Intangible Assets,"
under which goodwill is no longer amortized.

    INTEREST INCOME, NET.  Interest income, net decreased 28%, or $446,000, to
$1.1 million for the nine months ended March 30, 2002 from $1.6 million for the
nine months ended March 31, 2001. The decrease was primarily due to declining
interest rates and the conversion of marketable securities to cash and other
highly liquid investments.

    OTHER INCOME, NET.  Other income, net increased to $1.4 million for the nine
months ended March 30, 2002 from $140,000 from the nine months ended March 31,
2001. Other income, net includes realized and unrealized exchange gains and
losses on intercompany account balances, recognized gains and losses on our
foreign exchange hedging instruments, and gains recognized on sales of assets.
In November 2001, we sold a portion of our land holdings and certain other
property in Melbourne, Australia, realizing a net gain before taxes of $625,000.
Also, we sold our remaining minority investment in an Indian software company,
realizing a net gain before taxes of $504,000.

    PROVISION FOR INCOME TAXES.  The provision for income taxes decreased 52%,
or $857,000, to $804,000 for the nine months ended March 30, 2002 from
$1.7 million for the nine months ended March 31, 2001. Our effective income tax
rate was 33% for the nine months ended March 30, 2002 and for the corresponding
period of the prior year.

LIQUIDITY AND CAPITAL RESOURCES

    Historically, we have financed our operations and met our capital
expenditure requirements primarily through sales of our capital stock,
stockholder loans, funds generated from operations and borrowings from lending
institutions. In March 2000, we completed our initial public offering of common
stock, raising $36.9 million, net of offering costs. In December 2000, we
completed a second offering of common stock, raising $12.8 million, net of
offering costs. As of March 30, 2002, our primary source of liquidity consisted
of our total cash and cash equivalents balance of $49.3 million. In
November 2001, we completed the restructuring of our working capital credit
line, resulting in an

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available, unsecured credit facility of $5.0 million. The available borrowing
base of the facility is subject to a calculation which is based upon eligible
accounts receivable. As of March 30, 2002, the Company had employed
$2.7 million of the available borrowing base through outstanding foreign
exchange contracts and letters of credit. As of March 30, 2002, there were no
loans advanced against the facility and the remaining available borrowing base
was $2.3 million.

    Net cash provided by operating activities was $3.5 million for the nine
months ended March 30, 2002. During the corresponding period ended March 31,
2001, net cash of $4.3 million was generated by operating activities. Cash was
provided by operations in the current reporting period primarily through net
income as adjusted for non-cash charges, and increases in accounts payable and
deferred revenue and decreases in accounts receivable, prepaid expenses and
other current assets partially offset by gains realized on our sale of assets,
increases in other non-current assets and decreases in accrued expenses. Cash
was generated by operations in the corresponding period ended March 31, 2001
primarily through increases in net income as adjusted for non-cash charges and
increases in accounts payable, accrued expenses and deferred revenue partially
offset by increases in accounts receivable, prepaid expenses and other current
assets.

    Net cash provided by investing activities was $12.5 million for the nine
months ended March 30, 2002. During the corresponding period ended March 31,
2001, investing activities used cash of $19.8 million. Cash was provided in the
current reporting period primarily by the conversion of marketable securities
into cash, proceeds from our sale of land and certain other property in
Melbourne, Australia and proceeds from sale of our minority investment in an
Indian software company, offset by purchases of fixed assets. Cash was used by
investing activities in 2001 through the purchase of fixed assets, the purchase
of marketable securities, additional C-Mold acquisition costs and the
acquisition of Branden Technologies, offset partially by proceeds from the sale
of certain assets.

    Net cash of $81,000 was used in financing activities during the nine months
ended March 30, 2002, reflecting the impact of the Company's share repurchase
program, under which 50,000 shares of common stock were reacquired at a cost of
$464,000. This use of cash was partially offset by exercises of stock options,
proceeds received for common stock under the Company's Employee Stock Purchase
Plan and repayments of notes receivable from a stockholder. In the corresponding
period of fiscal 2001, net cash of $12.1 million was provided by the net
proceeds of our second public offering of common stock and the exercise of
employee stock options, offset by the repayment of debt obligations.

    We believe that our current cash, cash equivalents, marketable securities
and available lines of credit will be sufficient to meet our anticipated cash
needs for working capital and capital expenditures for at least the next twelve
months following the date of this Quarterly Report. On a long-term basis or to
complete acquisitions in the short term, we may require additional external
financing through credit facilities, sales of additional equity or other
financing vehicles. There can be no assurance that such financing can be
obtained on favorable terms, if at all.

    The Company does not have any special purpose entities or off-balance sheet
financing arrangements. The Company's cash commitments, as disclosed in Note 14
to the Company's audited consolidated financial statements, included in our
Annual Report on Form 10-K for the year ending June 30, 2001, have not
significantly changed.

RESTRUCTURING

    On April 19, 2002, the Company announced a corporate restructuring plan. The
plan includes the involuntary termination of 36 employees, closing certain
leased offices and reducing the size of other leased offices. The Company
expects to record a non-recurring charge of up to $1.4 million in the fourth
fiscal quarter for these activities.

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RECENT ACCOUNTING PRONOUNCEMENTS

    In October 2001, the FASB issued SFAS No. 144, "Accounting for the
Impairment or Disposal of Long-Lived Assets." The objectives of SFAS No. 144 are
to address significant issues relating to the implementation of SFAS No. 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
Be Disposed Of," and to develop a single accounting model, based on the
framework established in SFAS No. 121, for long-lived assets to be disposed of
by sale, whether previously held and used or newly acquired. SFAS No. 144 is
effective for financial statements issued for fiscal years beginning after
December 15, 2001 and, generally, its provisions are to be applied
prospectively. Management is currently determining what effect, if any, SFAS
No. 144 will have on its financial position and results of operations.

EUROPEAN UNION CURRENCY CONVERSION

    On January 1, 1999, eleven member nations of the European Economic and
Monetary Union began using a common currency, the Euro. For a three-year
transition period ending June 30, 2002, both the Euro and each of the currencies
for such member countries will remain in circulation. After June 30, 2002, the
Euro will be the sole legal tender for those countries. The adoption of the Euro
will affect many financial systems and business applications as the commerce of
those countries may be transacted both in the Euro and the existing national
currency during the transition period. Significant portions of our revenue have
been historically generated in Europe. Of the eleven countries currently using
the Euro, we have subsidiary operations in France, Germany, Ireland, Italy, the
Netherlands and Spain. We have assessed the potential impact of the Euro
conversion in a number of areas, particularly on our pricing and other marketing
strategies. Although we do not currently expect that the conversion, either
during or after the transition period, will have an adverse effect on our
operations or financial condition, there can be no assurance that it will not
have some unexpected adverse impact.

IMPACT OF INFLATION

    We believe that our revenue and results of operations have not been
significantly impacted by inflation during the past three fiscal years.

RISK FACTORS AND IMPORTANT FACTORS THAT MAY AFFECT FUTURE RESULTS

    You should carefully consider the following risks and uncertainties prior to
making an investment in our common stock. The following risks and uncertainties
may also cause our actual results to differ materially from those contained in
or predicted by our forward-looking statements.

    OUR QUARTERLY OPERATING RESULTS ARE SUBJECT TO SIGNIFICANT FLUCTUATIONS AND,
AS A RESULT, PERIOD-TO-PERIOD COMPARISONS OF OUR RESULTS OF OPERATIONS ARE NOT
NECESSARILY MEANINGFUL AND SHOULD NOT BE RELIED UPON AS INDICATORS OF FUTURE
PERFORMANCE.

    We have experienced significant fluctuations in our results of operations on
a quarterly basis. For instance, our total revenue in the third quarter of
fiscal 2002 was $9.4 million as compared with total revenue of $11.1 million in
the same quarter of the prior fiscal year. We expect to continue to experience
significant fluctuations in our future quarterly results of operations due to a
variety of factors, many of which are outside of our control, including:

    - seasonal slowdowns, in particular, in our first fiscal quarter, in many of
      the markets in which we sell our products,

                                       22
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    - the timing and magnitude of capital expenditures, including costs relating
      to the expansion of our operations and infrastructure,

    - introductions of new services or enhancements by us and our competitors
      and changes in our and our competitors' pricing policies,

    - changes in the mix of products and services we provide, as increased sales
      of our Manufacturing Solutions products and our services may result in
      lower gross margins,

    - currency fluctuations, and

    - timing and integration of acquisitions.

    In addition, like many software companies, we usually record a larger
percentage of our quarterly revenue in the third month of the fiscal quarter.
Also, our Manufacturing Solutions products may involve a longer selling cycle
with corresponding larger order sizes which may lead to an inability to close on
orders or make shipments in the period immediately preceding the end of the
fiscal quarter. Accordingly, our quarterly results are often difficult to
predict prior to the final days of the quarter.

    THE EXISTING GENERAL ECONOMIC SLOWDOWN, PARTICULARLY IN OUR END MARKETS, MAY
IMPACT OUR RESULTS.

    The demand for our products is largely driven by the demand for the products
in our primary end markets. Many of these end markets, particularly the
automotive, telecommunications, and electronics industries have experienced
severe economic declines over the past eighteen months. These economic declines
have been seen in all of our major end markets, including the US, Japan and
Europe. A continuation of this general economic slowdown could materially and
adversely affect us by further decreasing our revenue and/or lowering our
revenue growth rates. In addition, the recent terrorist attacks on the United
States and resulting military actions, are causing widespread uncertainty and
speculation in the United States and world financial markets. This uncertainty
and speculation may result in further economic contraction and a continued
suspension in the normal purchasing patterns of our customers.

    IF WE EXPERIENCE DELAYS IN INTRODUCING NEW PRODUCTS OR IF OUR EXISTING OR
NEW PRODUCTS DO NOT ACHIEVE MARKET ACCEPTANCE, WE MAY LOSE REVENUE.

    Our industry is characterized by:

    - rapid technological advances,

    - evolving industry standards,

    - changes in end-user requirements,

    - intense competition,

    - technically complex products,

    - frequent new product introductions, and

    - evolving offerings by product manufacturers.

    We believe our future success will depend, in part, on our ability to
anticipate or adapt to these factors and to offer on a timely basis products
that meet customer demands. For example, the introduction of new products and
services embodying new technologies and the emergence of new industry standards
can render our existing products obsolete. The development of new or enhanced
products is a complex and uncertain process, requiring the anticipation of
technological and market trends. We may experience design, manufacturing,
marketing and other difficulties that could delay or prevent our development,
introduction or marketing of new products and enhancements and result in
unexpected expenses.

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    Our growth and profitability also will depend upon our ability to expand the
use and market penetration of our existing product lines as well as new products
we introduce. Market acceptance of our products will depend in part on our
ability to demonstrate the cost-effectiveness, ease of use and technological
advantages of our products over competing products.

    FUTURE ACQUISITIONS AND STRATEGIC RELATIONSHIPS MAY RESULT IN LOST REVENUE
CAUSED BY BUSINESS DISRUPTIONS AND MISSED OPPORTUNITIES CAUSED BY THE
DISTRACTION OF OUR MANAGEMENT.

    Integrating the businesses of C-Mold and Branden Technologies required time
and focus by our management team. We may engage in other acquisitions and
strategic relationships in the future. We may not be able to identify suitable
acquisition candidates, and, if we do identify suitable candidates, we may not
be able to make such acquisitions on commercially acceptable terms or at all. If
we acquire another company, we will only receive the anticipated benefits if we
successfully integrate the acquired business into our existing business in a
timely and non-disruptive manner. We may have to devote a significant amount of
time and management and financial resources to do so. Even with this investment
of management and financial resources, an acquisition may not produce the
revenues, earnings or business synergies that we anticipated. If we fail to
integrate the acquired business effectively or if key employees of that business
leave, the anticipated benefits of the acquisition would be jeopardized. The
time, capital, management and other resources spent on an acquisition that
failed to meet our expectations could cause our business and financial condition
to be materially and adversely affected. In addition, acquisitions can involve
non-recurring charges and amortization of significant amounts of acquired
identifiable intangible assets that could adversely affect our results of
operations.

    IF WE BECOME SUBJECT TO INTELLECTUAL PROPERTY INFRINGEMENT CLAIMS, WE COULD
INCUR SIGNIFICANT EXPENSES AND WE COULD BE PREVENTED FROM OFFERING SPECIFIC
PRODUCTS OR SERVICES.

    Our products include proprietary intellectual property. We may become
subject to claims that we infringe on the proprietary rights of others. In the
United States and elsewhere, a significant number of software and business
method patents have been issued over the past decade and the holders of these
patents have been actively seeking out potential infringers. In addition, our
Manufacturing Solutions products require interaction with injection molding
machines, the use and technology of which are subject to a wide variety of
world-wide patents and other intellectual property protection. If any element of
our products or services violates third-party proprietary rights, we might not
be able to obtain licenses on commercially reasonable terms to continue offering
our products or services without substantial re-engineering and any effort to
undertake such re-engineering might not be successful. In addition, any claim of
infringement could cause us to incur substantial costs defending against the
claim, even if the claim is invalid, and could distract our management from our
business. Any judgment against us could require us to pay substantial damages
and could also include an injunction or other court order that could prevent us
from offering our products and services.

    WE MAY LOSE SALES TO COMPETITORS IF WE ARE UNABLE TO PROTECT IMPORTANT
INTELLECTUAL PROPERTY.

    Our ability to compete effectively against other companies in our industry
will depend, in part, on our ability to protect our proprietary rights in our
technology. We may be unable to maintain the proprietary nature of our
technology. While we have attempted to safeguard and maintain our proprietary
rights, we do not know whether we have been or will be completely successful in
doing so.

    We face the following risks in protecting our intellectual property:

    - we cannot be certain that our pending United States and foreign patent
      applications will result in issued patents or that the claims allowed are
      or will be sufficiently broad to protect our technology,

    - third parties may design around our patented technologies or seek to
      challenge or invalidate our patented technologies,

                                       24
<Page>
    - the contractual provisions that we rely on, in part, to protect our trade
      secrets and proprietary knowledge may be breached, and we may not have
      adequate remedies for any breach and our trade secrets and proprietary
      information may be disclosed to the public,

    - our trade secrets may also become known without breach of such agreements
      or may be independently developed by competitors, and

    - foreign countries, including some of those in which we do business, may
      reduce or limit the protection of our intellectual property rights.

    OUR FINANCIAL CONDITION OR RESULTS OF OPERATIONS MAY BE ADVERSELY AFFECTED
BY INTERNATIONAL BUSINESS RISKS.

    The majority of our employees, including sales, support and research and
development personnel, are located outside of the United States. Conducting
business outside of the United States is subject to numerous risks, including:

    - decreased liquidity resulting from longer accounts receivable collection
      cycles typical of foreign countries,

    - decreased revenue on foreign sales resulting from possible foreign
      currency exchange and conversion issues,

    - lower productivity resulting from difficulties managing our sales, support
      and research and development operations across many countries,

    - lost revenue resulting from difficulties associated with enforcing
      agreements and collecting receivables through foreign legal systems,

    - lost revenue resulting from the imposition by foreign governments of trade
      protection measures, and

    - higher cost of sales resulting from import or export licensing
      requirements.

    WE HAVE MORE LIMITED FINANCIAL AND OTHER RESOURCES THAN MANY OF OUR
COMPETITORS AND POTENTIAL COMPETITORS AND MAY BE UNABLE TO COMPETE SUCCESSFULLY
AGAINST THEM.

    We operate in a highly competitive environment and may not be able to
successfully compete. Companies in our industry and entities in similar
industries could decide to focus on the development of software solutions for
the design, analysis and manufacturing of injection molded plastic parts. Many
of these entities have substantially greater financial, research and
development, manufacturing and marketing resources than we do. Increased
competition may result in price reductions, reduced profitability and loss of
market share.

    DISRUPTION OF OPERATIONS AT OUR DEVELOPMENT FACILITIES COULD INTERFERE WITH
OUR PRODUCT DEVELOPMENT AND PRODUCTION CYCLES.

    A significant portion of our computer equipment, source code and personnel,
including critical resources dedicated to research and development, are
presently located at operating facilities in Australia, the United States and
the United Kingdom. In addition, we subcontract with a provider in Ireland for
production of certain software media. The occurrence of a natural disaster or
other unanticipated catastrophe at any of these facilities could cause
interruptions in our operations and services. Extensive or multiple
interruptions in our operations at our development facilities could severely
disrupt our product development.

    OUR MANUFACTURING SOLUTIONS PRODUCTS MAY LEAD TO PRODUCT LIABILITY CLAIMS
AGAINST US.

    Our Manufacturing Solutions products are installed directly on our
customers' injection molding machines and, in certain cases, automatically
adjust the operation of these machines. As a result, it is possible that our
customers may claim that our product interfered with the proper operation of
their

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machines and may seek reimbursement for consequential and other damages from us.
Although we expressly disclaim any liability for consequential or other damages
in connection with our sale of these products, this disclaimer may not protect
us from claims for damages from our customers and these claims may adversely
affect our relationships with our customers or our reputation generally. In
addition, our insurance coverage limits may not be adequate to protect us
against any product liability claims that arise. This insurance is expensive and
may not be available on acceptable terms, or at all.

    OUR STOCK PRICE IS HIGHLY VOLATILE AND OUR STOCK PRICE COULD EXPERIENCE
SUBSTANTIAL DECLINES AND OUR MANAGEMENT'S ATTENTION MAY BE DIVERTED FROM MORE
PRODUCTIVE TASKS.

    The stock market has experienced extreme price and volume fluctuations. In
addition, the per share price of our common stock has experienced significant
volatility since our initial public offering from a high of $30.13 to a low of
$7.68. Many factors may cause the market price for our common stock to decline,
including:

    - a decrease in the demand for our common stock,

    - distribution or sales by affiliates or other institutional stockholders,

    - revenues and operating results failing to meet the financial guidance
      provided by the Company or the expectations of securities analysts or
      investors in any quarter,

    - downward revisions in securities analysts' estimates or changes in general
      market conditions,

    - technological innovations by competitors or in competing technologies,

    - investor perception of our industry or our prospects, and

    - general technology or economic trends.

    In the past, companies that have experienced volatility in the market price
of their stock have been the subjects of securities class action litigation. We
may be involved in securities class action litigation in the future. Such
litigation often results in substantial costs and a diversion of management's
attention and resources and could harm our business, financial condition and
results of operations.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

    We develop our products in research centers in Australia, the United Kingdom
and the United States. We sell our products globally through our direct sales
force and indirect distributor channels. As a result, our financial results are
affected by factors such as changes in foreign currency exchange rates,
political climate and weak economic conditions in foreign markets. In the
future, we expect to increase our international operations in our existing
markets and in geographic locations where we do not have any operations now.

    We collect amounts representing a substantial portion of our revenues and
pay amounts representing a substantial portion of our operating expenses in
foreign currencies. As a result, changes in currency exchange rates from time to
time may affect our operating results. We engage in hedging transactions
designed to reduce our exposure to changes in currency exchange rates. We cannot
assure you, however, that any efforts we make to hedge our exposure to currency
exchange rate changes will be successful.

    We invest our excess cash balances in highly liquid, interest bearing
instruments. As a result, changes in interest rates from time to time may affect
our operating results.

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                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

    From time to time, we may be involved in various claims and legal
proceedings arising in the ordinary course of business. We are not currently a
party to any such claims or proceedings which, if decided adversely to us, would
either individually or in the aggregate have a material adverse effect on our
business, financial condition or results of operations.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

USE OF PROCEEDS FROM REGISTERED SECURITIES

    The effective date of the Securities Act registration statement for which
the use of proceeds information is being disclosed was March 27, 2000, and the
Commission file number assigned to the registration statement is 333-95289. As
disclosed in our quarterly report on Form 10-Q for the period ended April 1,
2000, we used approximately $11.2 million of the net proceeds to fund the
acquisition of C-Mold on April 13, 2000. On March 28, 2001, we used
approximately $3.7 million to fund the acquisition of Branden
Technologies, Inc. No payments of the net proceeds were made to (i) any of our
directors, officers, general partners or their associates, (ii) any person
owning 10% or more of any class of our equity securities or (iii) any of our
affiliates.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a.) Exhibits:
    None.

(b.) Reports on Form 8-K
    None.

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                                   SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

<Table>
<S>                                                    <C>  <C>
                                                       MOLDFLOW CORPORATION

                                                       By:             /s/ MARC J.L. DULUDE
                                                            -----------------------------------------
                                                                         Marc J.L. Dulude
                                                              PRESIDENT AND CHIEF EXECUTIVE OFFICER

                                                       MOLDFLOW CORPORATION

                                                       By:            /s/ SUZANNE E. ROGERS
                                                            -----------------------------------------
                                                                        Suzanne E. Rogers
                                                                  VICE PRESIDENT OF FINANCE AND
                                                            ADMINISTRATION AND CHIEF FINANCIAL OFFICER
                                                                  (PRINCIPAL FINANCIAL OFFICER)
Date: May 14, 2002
</Table>

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