Bure (BURE) investor relations material

Executive summary

• Net asset value per share fell 9.0% to SEK 243.2 as of March 31, 2026, with total net asset value at SEK 18,046M, down from SEK 19,823M at year-start.

• Group earnings after tax were SEK -1,777M, an improvement from SEK -2,631M year-over-year; EPS was SEK -24.0.

• Total return on the share was -11.8%, underperforming the SIX Return Index at -1.2%.

• Major divestment: 7.2 million Ovzon shares sold for SEK 406M, with remaining shares sold post-period.

• Silex Microsystems listed on Nasdaq Stockholm in May 2026, with share price up 247% on debut.

Financial highlights

• Group earnings from investment activities: SEK -1,753M; fair value changes from financial assets: SEK -1,784M.

• Group equity at period-end: SEK 18,047M; equity ratio: 100%.

• Net receivables: SEK 500M; interest-bearing assets: SEK 503M; liabilities: SEK 3M.

• Dividends received: SEK 31M.

• Net asset value per share as of May 17, 2026, rebounded to SEK 348.8, up 30.6% since year-start.

Outlook and guidance

• Net asset value per share increased by 31% since the beginning of the year as of May 17, 2026.

• CEO notes improved performance in several portfolio companies post-period, driving sharp NAV recovery.