Creades (CRED) investor relations material

Executive summary

• Net asset value (NAV) return for H1 2026 was +17%, outperforming the OMXSGI index at +8%.

• Q2 NAV return reached +22%, with OMXSGI at +9%.

• Earnings per share for H1 were SEK 14.07, and SEK 17.59 for Q2.

• Strong performance driven by listed holdings, especially Silex, which was listed in May and saw exceptional share price growth.

• On the unlisted side, Silex also contributed significantly before its listing, while other unlisted holdings had mixed results.

Financial highlights

• H1 2026 profit was SEK 1,910 mn, up from SEK 780 mn year-over-year.

• Q2 profit was SEK 2,388 mn, up from SEK 602 mn year-over-year.

• NAV per share at period end was SEK 96, up from SEK 83 at year-end 2025.

• Total assets at June 30 were SEK 13,155 mn, with equity of SEK 12,848 mn.

• Dividend of SEK 1.60 per share (SEK 217 mn total) to be paid in four installments.

Outlook and guidance

• Management expresses cautious optimism for H2 2026, citing improved market sentiment, stabilized small-cap flows, and a more active IPO and transaction market.

• Risks remain due to concentrated market gains, geopolitical uncertainty, and potential sector slowdowns.