Strategic Investments (STRINV) investor relations material

Executive summary

• Net profit for 2025 reached DKK 59.5m, a significant turnaround from DKK -165.7m in 2024, driven by a 19.3% return, exceeding both initial and long-term targets.

• Investments focused on listed and unlisted micro and small cap equities, with challenging market conditions but strong performance, especially from GreenMobility.

• Equity at year-end was DKK 371.2m, with a proposed dividend of DKK 0.02 per share.

Financial highlights

• Investment result for 2025 was DKK 73.9m, reversing a DKK -147.6m loss in 2024.

• Operating expenses increased to DKK 9.4m from DKK 8.1m year-over-year.

• Net asset value per share rose to DKK 0.92 from DKK 0.79, with a 16.4% increase in intrinsic value.

• Earnings per share (EPS) improved to DKK 0.15 from DKK -0.41.

• Cash flow from operations was DKK -2.3m, with total cash flow at DKK -5.1m.

Outlook and guidance

• 2026 outlook remains uncertain, with expected continued volatility in equities and interest rates.

• Anticipated return for 2026 is 10–15%, in line with long-term targets, corresponding to net profit guidance of DKK 37m–56m.