Fram Skandinavien

As of September 30, the net asset value amounted to SEK 355 million (SEK 98 per share), which is approx. 207% above the closing price of the FRAM B share on the same day and represents an increase of +33% compared to the previous quarter.

Carmudi continued to generate strong revenues during the third quarter, growing ca. 2.5x vs. Q3 2021 (which was a quarter impacted by local lockdowns). The new CEO, James Bach (ex country head of Lalamove) for EveHR has been recruited and will start in November.

As a step to further focus the Company's core business on investments, the board of Fram Skandinavien AB appointed Hanh Mai as the new CEO of the Group. Hanh Mai is Vietnamese and has ca. 15 years of experience within asset management in France. Christopher Brinkeborn Beselin, will return to his role as Chairman of the Board and Mikael Steinbach will return to his role as Board Director.

From now on, Fram Skandinavien AB (publ) will publish a monthly portfolio and NAV update, in addition to its regular quarterly reports.

The report in its entirety is available on Fram^'s website: investors.fram.asia and attached to this press release.

This information is such that Fram Skandinavien AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation (EU nr 596/2014). The information was provided, through the agency of the below contact person, at the time stated in this press release, by MFN.