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VEF 2025 Annual Report

REG

VEF AB (publ) announces the release of its 2025 Annual Report, including an integrated Sustainability Report.

Reflecting on the past year and outlining VEF’s ambitions going forward, in the report, CEO Dave Nangle comments:

“For an investment company like VEF, a quality portfolio is our most important asset. Valuations can and do move and exit timings can be hard to predict, but if the portfolio is
quality and growing you have a strong tailwind for long term value creation.

Through 2024–25, we focused and succeeded in opportunistically realizing exits (close to NAV) and strengthening our balance sheet. We have delivered five exits across three different portfolio companies.

2025 was an important year on many fronts for VEF and we are content with how it played out. Our portfolio is humming and is compounding nicely once more, supporting NAV growth. Exits are being delivered at +/- NAV levels, and have strengthened our balance sheet, with capital put to work paying down debt and buying back our shares.”

The 2025 Annual Report, along with the integrated Sustainability Report, is now available at the Company’s website, www.vef.vc.

For further information please contact:
Kim Ståhl, CFO: +46 (0) 8-545 015 50 or info@vef.vc
Helena Caan Mattsson, Head of Sustainability: +46 (0) 8-545 015 58 or info@vef.vc

About Us
VEF AB (publ) is an investment company whose Common Shares are listed in Sweden. We invest in growth stage private fintech companies, take minority stakes and are active investors with board representation in our portfolio companies, always looking to back the best entrepreneurs in each market. We focus on scale emerging markets and invest across all areas of financial services inclusive of payments, credit, mobile money and wealth advisors. VEF trades in Sweden on Nasdaq Stockholm's Main Market under the ticker VEFAB. For more information on VEF, please visit http://www.vef.vc.

This information is information that VEF AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-03-23 10:00 CET.

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Vef Ar25 Eng

Datum 2026-03-23, kl 10:00
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Vef Ar25 Eng