NAXS Interim Report January-March 2022

First quarter 2022

• Net profit for the first quarter amounted to MSEK 40.1 (44.6).
• Earnings per share amounted to SEK 3.60 (4.00).
• Net asset value amounted to MSEK 871 (SEK 78.12 per share) at March 31, 2022, compared to MSEK 823 (SEK 73.78 per share) at December 31, 2021.
• Net cash amounted to MSEK 332 (SEK 29.75 per share) at March 31, 2022, compared to MSEK 266 (SEK 23.81 per share) at December 31, 2021.
• The 2022 Annual General Meeting resolved to pay a dividend of 3.50 SEK per share for FY 2021.

Comments by the CEO

The strong development experienced during 2021 continued during the first quarter of 2022, with the NAV/share increasing by 5.9%. Over 12 months, the NAV/share has increased by 24%.

During the first quarter, NAXS made 1 new private equity commitment to Mimir Industries AB, the successor investment vehicle to Mimir Invest AB where NAXS is an investor. After the end of the quarter NAXS announced a new commitment to JAB Investment Partners – JCP V, which will focus on among other on the pet care sector. NAXS is an investor in JCP V two predecessor funds.

As to NAXS’s underlying funds, they signed or closed investment in 7 new portfolio companies during the quarter.

On March 30, the AGM approved the payment of the dividend of SEK 3.50/share for FY 2021. Following this dividend payment, the Company will have distributed a cumulative SEK 25.17 per share over the last 5 years to its shareholders through dividends and share repurchases.

This will be my last financial report as CEO of the Company and again I would like to take the opportunity to thank NAXS’s shareholders for their trust and to wish the company all the best in the future.

Lennart Svantesson

Financial summary

	2022 1/1–03/31	2021 1/1–03/31
Net profit/loss for the period, KSEK	40 117	44 621

	2022 03/31	2021 12/31
Private equity fund investments, KSEK	495 771	513 925
Private equity fund investments in % of equity	57	63
Remaining commitments, KSEK	120 675	86 012
Total exposure to private equity fund investments, KSEK	616 446	599 937
Other investments, KSEK	44 463	44 693
Net cash, KSEK	331 793	265 523
Private equity fund investments per share, SEK	44.45	46.08
Other investments per share, SEK	3.99	4.01
Net cash per share, SEK	29.75	23.81
Net asset value per share, SEK	78.12	73.78
Share price, SEK	65.00	64.80

Contact information

Lennart Svantesson, CEO

Telephone: +46 73 311 00 11

Gösta Lundgren, CFO

Telephone: +46 70 710 47 88

This information is information that NAXS AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 18.30 CET on April 26, 2022.

This press release and further information is available on the Company’s website: www.naxs.se

NAXS AB (publ)

Corp. Reg. No. 556712-2972

Nybrogatan 8

114 34 Stockholm, Sweden

Tel: +46 (0)766 40 00 40, E-mail: [email protected]

NAXS is a company listed on NASDAQ Stockholm and investing primarily in private equity funds with a Nordic focus. NAXS may also make direct investments or co-investments alongside private equity or other alternative assets funds. In addition, NAXS may, to a limited extent, make other types of investments.