NAXS Year-end Report 2017

January-December 2017

• Net profit/loss for the period amounted to MSEK 40.7 (94.0).

• Earnings per share amounted to SEK 2.91 (6.32).

• Net asset value amounted to MSEK 821 (SEK 60.17 per share) at December 31, 2017,
  compared to MSEK 842 (SEK 56.69 per share) at year-end 2016.

• Net cash amounted to MSEK 450 (SEK 32.97 per share) at December 31, 2017, compared
  to MSEK 384 (SEK 25.85 per share) at year-end 2016.

• The 2017 Annual General Meeting resolved that no dividend would paid for FY 2016 in
  view of the fact that SEK 38m (SEK 2.57/share) had been distributed through shares
  repurchases during Q1 2017.

  Fourth quarter 2017
  • Net profit/loss for the quarter amounted to MSEK -2.7 (38.9).

  • Earnings per share amounted to SEK -0.20 (2.62).
  Distribution of profits

  The Board of Directors intends to make the level of the dividend to be proposed for the
  fiscal year 2017 dependent on the amount that may be distributed under the form of
  share repurchases during the first quarter of 2018.
  The Board of Directors proposes a dividend of maximum SEK 2,75/share for the fiscal year
  2017, corresponding to SEK 37,502,814.25 at December 31, 2017. The actual level of the
  dividend will be set as the difference between SEK 37,502,814.25 and the amount that has
  been distributed under the form of share repurchases during the period between January 1
  and March 31, 2018. The Board of Directors will announce the level of the proposed
  dividend ahead of the publication of the notice of the 2018 Annual General Meeting

  In addition, the Board of Directors proposes to the Annual General Meeting to vote on a
  continued share repurchase mandate.

  Comments by the CEO

  NAXS continued to make progress in 2017, with the net asset value per
  share increasing by 6.2%. During the year, NAXS’s underlying private
  equity funds made 4 new acquisitions, 10 full exits and 5 partial exits
  through initial public offerings.

  2017 was also the year during which NAXS started to implement its
  revised investment policy, making 3 new investments: a commitment to
  the special situations manager Mimir Invest, an investment in the initial
  public offering of helmet safety solutions provider MIPS, as well as a
  cornerstone investment in the initial public offering of fantasy software

  provider Scout Gaming Group.
  NAXS actively repurchased shares throughout 2017, acquiring 1,210,915 shares,
  representing 8% of the total outstanding number of shares.
  NAXS maintains a robust balance sheet, with a high proportion of cash, which the company
  will continue to selectively seek to deploy.
  Lennart Svantesson