Slide 1: VNV Global Investor update Q3 2024
VNV Global Investor update Q3 2024
Slide 2: Table of contents
Table of contents Portfolio Overview Select Investment Highlights Last Quarter Update Supporting Materials
Slide 3: Global Network Effect Investor
Global Network Effect Investor Network Effects Product or Service Improves with Every New User Permanent Capital Avito Investment Held for 12 Years, Yielding a 37% IRR High Risk / Reward Investing in Businesses with Significant Return Profiles
Slide 4: VNV has long history of investing in non-listed, fast growing companies
VNV has long history of investing in non-listed, fast growing companies with great risk/reward characteristics Key corp. ‘Vostok Nafta Erg events Listed as New Name New Name Vostok Nafta Vostok New Ventures VNV Global Avito $2m $38m $20m Key Initial investment VOI investment BlaBlaCar investment Ini
Slide 5: Strong and experienced team behind VNV Global
Strong and experienced team behind VNV Global Investment and Operations Team @ 3 & & Per Brilioth Dennis Mohammad Alexander Trofimov Bjorn von Sivers Elise Kielos CEO, Board Member IM IM CFO General Counsel ~25 Years Active Investor ils, BOG se SUBS fant VEF 4 vol. “enon Tuna nansen Huias Board of D
Slide 6: VNV trading on NASDAQ Stockholm under ticker STO: VNV
VNV trading on NASDAQ Stockholm under ticker STO: VNV NAV and share price development (SEK) VNV ownership structure HB NAV — Share price 130 5 se Acacia Partners! 1200 fe RR 110 5 400 + 90 + 80 4 70 + Example Owners 60 4 = 50 4 J +30k non- a9) 58.3% institutional owners 30 + 0 Example Geo's nly 0 |
Slide 7: Sustainability is at the core of our portfolio companies
Sustainability is at the core of our portfolio companies Select Examples » BlaBlaCar YY collectiv Food Source: Portfolio Company Information, VNV Global Sustainability Report 2023
Slide 8: Introduction to VNV
Introduction to VNV Table of contents Portfolio Overview Select Investment Highlights Last Quarter Update Supporting Materials
Slide 9: VNV Global Portfolio Overview, Q3 '24
VNV Global Portfolio Overview, Q3 ‘24 Cash & Cash Equivalents Other (inc. Liq Mgmt) Hungry Panda Wasoko BlaBlaCar Bokadirekt Bf 3% Breadfast Numan HousingAnywhere! Voi Note: (1) Includes both equity and debt exposure “bBlaBlaCar fuman #1 inter-city travel platform with +100 million members worldwide
Slide 10: Increasing share of Investment Portfolio in EBITDA positive territory
Increasing share of Investment Portfolio in EBITDA positive territory Unaudited number Share of Investment Portfolio Value in EBITDA Positive territory 100% Voi EBITDA Positive Q3 23 Q3 '24 9
Slide 11: The 'Avito's of tomorrow' are already in our existing portfolio
The ‘Avito’s of tomorrow’ are already in our existing portfolio USD ~91 min or SEK ~7 per share in holdings below top 10 single holdings Select portfolio companies by stage Series C+ +) medoma OURA |@2 Scout Long tail holdings Alva <X Y coltectiv Food Series B Series A 10 Note: (1) Excluding top 10
Slide 12: Portfolio overview by sector and geo
Portfolio overview by sector and geo Mobility largest sector exposure Vast majority of portfolio developed markets Emerging markets Mobility Marketplace Digital Health Developed markets 11
Slide 13: Introduction to VNV
Introduction to VNV Table of contents Portfolio Overview Last Quarter Update Supporting Materials 12
Slide 14: BlaBlaCar | The world's leading community-based travel app
SS BlaBlaCar BlaBlaCar | The world’s leading community-based travel app BlaBlaCar at a glance Value Proposition BlaBlaCar is the world’s leading long-distance carpooling platform — with a global, ready planned to make trusted community of +100 million members in 22 countries * The platform was found
Slide 15: BlaBlaCar recent developments
bBlaBlaCar BlaBlaCar | The world’s leading community-based travel app Recent Developments BlaBlaCar geographical presence Closed 2023 with EUR 253m in revenues (+29% YoY) and has been profitable for the last +24 months °. a Countries where 7 i Announced a EUR 100m financing through a revolving credi
Slide 16: Gett | Divestment to Pango announced
Gett. Gett | Divestment to Pango announced in Q2, subject to regulatory approval Gett at a glance VNV signed sale of Gett, expected to close H2 2024 uspm + Gett is the leading ride hailing company in Israel with additional presence in London and other cities in the UK, where the company offers black
Slide 17: Voi | Leading European micromobility operator
Voi | Leading European micromobility operator Voi at a glance + Voi is a European micromobility company offering shared e-scooters and e-bikes fora connected, electrified and shared means of last mile transport * The company was founded in Stockholm in August 2018 and has since become a leading e- s
Slide 18: Voi | Leading European micromobility operator
Voi | Leading European micromobility operator Recent Development Voi’s geographic presence Over the past two years, revenue has grown by over 40%, gross profit has more than doubled and overhead costs have been reduced by almost 60% = Generated over USD 13.5m of positive adjusted EBITDA YtD Sep ce)
Slide 19: Voi | Consistent growth and improving margins
Voi | The company has delivered consistent growth and improving margins Increasing revenue and efficiency 121 2020 2021 2022 2023 103 96 2023 2024 YtD' yYtD! I Net Revenue (EUR min) —— Average Ready Vehicles (k) Notes: 1. YiD Figures reflect non-audited Jan - Sep 2024 financials Growing vehicle prof
Slide 20: HousingAnywhere | Rental platform for international professionals
Housir Anywhere HousingAnywhere | Rental platform for international professionals & students HousingAnywhere at a glance Developing well on its growth plans —— HM Studapart MM Kamernet ‘IM HousingAnywhere + HousingAnywhere is a global platform that helps international students, expats and semi profe
Slide 21: Numan | Online health clinic focusing on men's health
Numan | Online health clinic focusing on men’s health issues Numan at a glance + Numan is an online health clinic focusing on men’s health issues, including erectile dysfunction, hair loss and weight loss + Started out as an online pharmacy but has transitioned into an intelligent healthcare provide
Slide 22: Breadfast | Egyptian quick commerce platform
@ Breadfast Breadfast | Egyptian quick commerce platform Breadfast at a glance ARR has grown 38x since June 2021 + Breadfast is Egypt's leading online grocery brand, the company operates a fully vertically integrated usb supply chain, delivering more than 5,000 SKUs' on-demand in under 60 minutes ac
Slide 23: Bokadirekt | SaaS platform for health and beauty bookings
bokadirekt Bokadirekt | SaaS ERP platform for bookings within health and beauty Bokadirekt at a glance Strong growth demonstrated sEKm MNENet sales ——Growth, YoY + Bokadirekt is Sweden's leading health and beauty platform, the marketplace allows consumers to discover more than 24,000 health & beauty
Slide 24: NoTraffic | Autonomous traffic management platform
NoTraffic | Autonomous traffic management platform 4 NOTRAFFIC Description NoTraffic digitizes road infrastructure management, allowing cities to manage their entire grid in more efficient ways. Offering includes urban services, automotive (built-in V2X communication), route planning and insurance T
Slide 25: Introduction to VNV
Introduction to VNV Table of contents Portfolio Overview Select Investment Highlights Supporting Materials 24
Slide 26: Q3 2024 figures
Q3 2024 figures Q3 2024 NAV Q3 2024 NAV Change Since Last Change Since Last Quarter (USD) Quarter (SEK)
Slide 27: Net Asset Value per share at ~44.32 SEK as per Q3 2024
Net Asset Value per share at ~44.32 SEK as per Q3 2024 NAV breakdown, Sep 30 2024 Type Fair value, $m Per share, $ Per share, SEK* % weight of NAV Investments 649.9 5.0 504 13% Cash & cash equivalents 11.9 OA 0.9 2% Total investment portfolio 661.8 5A 614 115% Borrowings ~85.4 -0.7 6.6 15% Other net
Slide 28: Net Asset Value as per Q3 2024
Net Asset Value as per Q3 2024 Company Fair value $k, Sep 30,2024 Investments / Disposals Fair value change, $k Fair value change % Fair value $k, Jun 30,2024 Portfolio weight % BlaBlaCar 229 601 - -30884 12% 260 386 34.7% Gett 83 039 - - 0% 83039 12.5% Voi 80 036 - - 0% 80 036 121% HousingAnywhere
Slide 29: Net debt position continues to decrease
Net debt position continues to decrease, down from USD +150 min at year end Investment portfolio overview, USDm Liquidity and Debt, USDm 668 P oe —f Liquidity Management 15 12 Cash & Cash Equivalents (>BlaBlaCar 260 930 \Other net rec. /liab. Gett. voi. faye hy fuman Borrowings Other equity 159 161
Slide 30: Introduction to VNV
Introduction to VNV Table of contents Portfolio Overview Select Investment Highlights Last Quarter Update 29
Slide 31: Focus on executing on several exits to raise cash in 2024
Focus on executing on several exits to raise cash in 2024 Comments In aggregate entered into exit agreements amounting to USD ~148 min to VNV USD min ~148 VNV has focused on executing 3 on several exits in 2024 to raise cash to pay back outstanding debt Escrow Amount? So far, VNV has entered into ag
Slide 32: Track record with several highly successful exits
Track record with several highly sucessful exits Select historic exits Tinkoff 9007-2015 ‘2 2015-2016 Bank zameen.com @e ° 70 Avito 200720"8 @ @) Quandoo 2014-2015 @hemnet 2016-2022 © @) Peroperty 2016-2022 Note: Based on holding period between 07 until asset was spun off to VEF 3
Slide 33: VNV has a stage agnostic investment strategy
VNV has a stage agnostic investment strategy Through our mandate we are able to invest at any stage in a company, from seed to growth equity @ Seed New Ventures Growth Early investment on the back of (1) high . confidence on business model and (2) Series A to B/C Late stage growth investments, from
Slide 34: VNV an established player with a proven track record
VNV an established player with a proven track record NAV development (SEK) Key metrics 500 450 400 USD 575m NAV 350 As per Q3 2024 300 250 200 150 400 ~13% NAV IRR 2012 42 12 444 45 15 16 146 17 17 18 18 9 20 20 ’21 '21 '22 '22 23 '23 24 Q2 04 Q2 04 Q2 04 Q2 04 A2 04 Q2 04 Q2 4 A2 04 Q2 A4 Q2 04 Q2
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