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2017-01-27

NAXS AB: Year-end Report 2016

NAXS AB
Financial Statement Release

Year-end Report 2016

Stockholm, January 27, 2017

PRESS RELEASE - NAXS AB (publ)

Not for release, publication or distribution, directly or indirectly, in or
into the United States, Hong Kong, Canada, Japan or Australia, or any other
jurisdiction in which the distribution or release would be unlawful.

Year-end Report 2016

January-December 2016

-- Net profit/loss for the period amounted to MSEK 94.0 (64.2).
-- Earnings per share amounted to SEK 6.32
(4.32).
-- Net asset value amounted to MSEK 842 (SEK 56.69 per share) at December 31,
2016, compared to MSEK 785 (SEK 52.78 per share) at year-end 2015.
-- Net cash amounted to MSEK 384 (SEK 25.85 per share) at December 31, 2016,
compared to MSEK 351 (SEK 23.60 per share) at year-end 2015.
-- NAXS paid a dividend of SEK 2.50 per share for the fiscal year 2015.

Fourth quarter 2016

-- Net profit/loss for the quarter amounted to MSEK 38.9 (-25.0).
-- Earnings per share amounted to SEK 2.62 (-1.68).

Distribution of profits

The Board of Directors intends to make the dividend to be proposed for the
fiscal year 2016 dependent on the amount that may be distributed under the form
of share repurchases during the first quarter of 2017.

The Board of Directors intends to propose a dividend of maximum SEK 2.70/share
for the fiscal year 2016, corresponding to SEK 40,090,415.40 at December 31,
2016. The actual level of the dividend will be set as the difference between
SEK 40,090,415.40 and the amount that has been distributed under the form of
share repurchases during the period between January 1 and March 31, 2017. The
Board of Directors will announce the level of the proposed dividend ahead of
the publication of the notice of the 2017 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

We were pleased to see NAXS continue to make good progress during 2016, with
the net asset value per share increasing by 12.2%, including the dividend paid.
This performance was generated by a strong exit activity, positive valuation
developments in the remaining portfolio, as well as positive currency effects.
During the past year, NAXS’s underlying funds made 3 new acquisitions, 10 full
exits, and 4 partial exits through initial public offerings.
Worth mentioning for 2016 were also the adoption of a revised investment policy
and the shortening of the company’s name from NAXS Nordic Access Buyout Fund AB
(publ) to NAXS AB (publ).
NAXS currently has a robust balance sheet, with a relatively high proportion of
cash, which the company continues to selectively seek to deploy. After the end
of the reporting period, NAXS made a SEK 50m commitment to Mimir Invest, a
Swedish private equity special situation fund.

Lennart Svantesson

Financial summary

2016 2015 2016 2015
1/1–12/31 1/1–12/31 10/1-12/31 10/1-12/31
--------------------------------------------------------------------------------
-----------------------------------
Net profit/loss for the period, 94 012 64 178 38 939 -25 005
KSEK

2016 2015
12/31 12/31
-------------------------------------------------------------------------
-------------------------------------------------------- --------
Private equity fund investments, KSEK 458 701 434 246
Private equity fund investments in % of equity 55 55
Remaining commitments, KSEK 58 444 104 748
Total exposure to private equity fund investments, KSEK 517 145 538 994
Net cash, KSEK 383 807 350 970
Private equity fund investments per share, SEK 30.89 29.20
Net cash per share, SEK 25.85 23.60
Net asset value per share, SEK 56.69 52.78
Share price, SEK 49.40 54.00

Contact information

Lennart Svantesson, CEO

Telephone: +46 73 311 00 11

Gösta Lundgren, CFO

Telephone: +46 70 710 47 88

This information is information that Naxs AB (publ) is obliged to make public
pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The
information was submitted for publication, through the agency of the contact
persons set out above, at 8.30 CET on January 27, 2017.

This press release and further information is available on the Company’s
website: www.naxs.se

NAXS AB (publ)
Corp. Reg. No. 556712-2972
Grev Turegatan 10
114 46 Stockholm, Sweden
Tel: +46 8 611 33 25, E-mail: info@naxs.se

NAXS is an investment company listed on NASDAQ Stockholm. NAXS primarily
invests in private equity funds with a Nordic focus, but may also make direct
investments or co-investments alongside private equity or other alternative
assets funds. In addition, NAXS may, to a limited extent, make other types of
investments.

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