Interim Management Statement January-September 2023

“As an engaged owner, we focus on future-proofing our companies. Developing and taking advantage of new technologies, and capturing opportunities related to climate change are critical for long-term profitable growth. While never compromising on key strategic investments, companies must also handle the current market environment. I believe that our companies are doing a good job balancing short-term efficiency focus with long-term initiatives.”

Johan Forssell, President & CEO of Investor

Highlights during the third quarter

• Adjusted net asset value (NAV) amounted to SEK 760,319m (SEK 248 per share) on September 30, 2023, a decrease of SEK -12,741m, or -2 percent, during the quarter. Total shareholder return amounted to -3 percent, compared to -6 percent for the SIXRX return index.
• Listed Companies generated a total return of -3 percent. The remaining shares in Accelleron were divested for a total SEK 2.6bn, resulting in total divestment proceeds of SEK 3.6bn.
• Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to 0 percent (0 percent including cash). Earnings growth and cash flow contributed positively, offset by multiple contraction and negative currency impact.
• Within Patricia Industries, sales growth for the major subsidiaries amounted to 10 percent, of which 5 percent organically in constant currency. Reported EBITA grew 19 percent and adjusted EBITA grew 18 percent.
• Mölnlycke reported organic sales growth of 4 percent in constant currency, mainly driven by Wound Care growing at 8 percent. The EBITA margin improved slightly.
• The value change of Investments in EQT was 1 percent. Net cash flow to Investor amounted to SEK -1,127m.
• Leverage was 2.0 percent as of September 30, 2023 (1.5 percent as of December 31, 2022). Gross cash amounted to SEK 24,067m and the average maturity of Investor AB’s debt portfolio was 11.1 years on September 30, 2023.

This information is information that Investor AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:15 CET on October 19, 2023.