NAXS AB (publ) 9-month financial report January – September 2025

Nine months 2025

• Net profit amounted to MSEK -19.3 (-72.3).
• Earnings per share amounted to SEK 1.74 (-6.53).
• Net asset value amounted to MSEK 565 (SEK 50.98 per share) at September 30, 2025, compared to MSEK 808 (SEK 72.98 per share) at December 31, 2024.
• Net cash amounted to MSEK 43 (SEK 3.91 per share) at September 30, 2025, compared to MSEK 204 (SEK 18.38 per share) at December 31, 2024.
• The 2025 Annual General Meeting resolved to pay a dividend of 4.25 SEK per share for FY 2024 and voted for a continued share repurchase mandate.

Third quarter 2025

• Net profit amounted to MSEK -70.2 (-41.5).
• Earnings per share amounted to SEK -6.34 (-3.74).
• The Extraordinary General Meeting held on September 8 resolved, in accordance with the Board of Directors’ proposal, to amend the Company’s investment mandate to enable an orderly liquidation process and to pay an extraordinary dividend to the shareholders in an amount of 16 SEK per share, amounting to a total of MSEK 177.2.

Comments by the CEO

The Extraordinary General Meeting held on September 8 resolved, in accordance with the Board of Directors’ proposal, to amend the Company’s investment mandate to enable an orderly liquidation process and to pay an extraordinary dividend of 16 SEK per share, amounting to a total of MSEK 177.2. As of September 30, cash and cash equivalents amounted to SEK 3.91 per share and net asset value amounted to SEK 50.98 per share. NAXS’ negative financial result in the third quarter of MSEK –70.2 was mainly driven by lower valuations from two fund managers. Profit for the first nine months of 2025 amounted to MSEK -19.3.

On October 3, 2025, after the end of the interim period, NAXS’s largest shareholder, QVT Financial LP, divested its entire holding in the Company. The shares were acquired by a few investors with Molcap Invest AB (publ) and Oliver Molse as largest investors.

Børge Johansen