Selskabsmeddelelse

NET ASSET VALUE – 30 November 2025

On the 30 November 2025 Flerie AB's Net Asset Value (NAV) was SEK 3,444 million and NAV per share was SEK 44.46.

Allocation of NAV	Share of portfolio company	Fair value (MSEK)	Part of NAV per share (SEK)	Share of NAV
Product Development
Prokarium	42%	252	3.26	7.3%
Xspray Pharma	18%	245	3.17	7.1%
Empros Pharma	79%	204	2.64	5.9%
Atrogi	44%	197	2.54	5.7%
Lipum	57%	178	2.29	5.2%
KAHR Medical	35%	173	2.23	5.0%
Bonsai Biotherapeutics	100%	131	1.69	3.8%
Microbiotica	10%	125	1.62	3.6%
Xintela	59%	106	1.37	3.1%
Geneos Therapeutics	12%	91	1.18	2.6%
AnaCardio	13%	79	1.02	2.3%
Mendus	23%	72	0.93	2.1%
EpiEndo Pharmaceuticals	9%	54	0.70	1.6%
Vitara Biomedical	11%	47	0.61	1.4%
Buzzard Pharmaceuticals	14%	32	0.41	0.9%
Egetis Therapeutics	1%	24	0.31	0.7%
Amarna Therapeutics	58%	11	0.14	0.3%
Strike Pharma	18%	11	0.14	0.3%
Alder Therapeutics	30%	0	0.00	0.0%
Total		2,033	26.25	59.0%

Commercial Growth
NorthX Biologics	61%	202	2.61	5.9%
Symcel	30%	192	2.48	5.6%
Chromafora	30%	73	0.94	2.1%
Nanologica	44%	36	0.46	1.0%
Frontier Biosolutions	2%	26	0.34	0.8%
Bohus Biotech	45%	0	0.00	0.0%
Total		529	6.82	15.3%

Limited Partnerships, total		109	1.40	3.2%

Assets related to Portfolio companies		316	4.08	9.2%
Other assets and liabilities		458	5.91	13.3%

Net Asset Value		3,444	44.46	100.0%

Flerie in brief
Flerie is an active long-term life science investor, with a broad and diversified portfolio of innovative companies based on pioneering science. We invest in product development and commercial growth opportunities globally alongside other leading investors, focusing predominantly on private companies that are otherwise difficult to access. Flerie’s active ownership model, broad network and resources support and accelerate the development of the portfolio projects, creating value for shareholders. Flerie AB’s ordinary share is listed on Nasdaq Stockholm with the ticker FLERIE. For further information please visit www.flerie.com