Invitation to presentation of Investor’s Year-end Report 2025

Investor AB will publish its Year-end Report 2025 on January 22, 2026 at 08:15 CET and host a webcast at 10:00 CET presented by CEO Christian Cederholm and CFO Jenny Ashman Haquinius; the webcast is available via the company website and phone participation requires prior registration. The notice is a routine investor-relations announcement outlining the timing and access for the group’s results and reiterates Investor AB’s portfolio structure (Listed Companies, Patricia Industries and Investments in EQT); no financial figures or guidance were included in the release.

Analysis

Market structure: The Investor AB year‑end webcast (22 Jan 2026, 08:15 CET release) is a liquidity and information event concentrated on large Swedish holdings (Investor AB, EQT exposure and listed portfolio companies). Winners: active, high‑quality portfolio companies and EQT if disclosures point to realized gains or higher carried interest; losers: short‑term arbitrage funds positioned against NAV if management signals hold/lockups. Cross‑asset: a material dividend/special distribution or NAV re‑rating could strengthen SEK vs EUR/GBP and compress local credit spreads; negligible direct commodity impact.

Risk assessment: Tail risks include unexpected governance moves (board changes, large asset sales) or regulatory scrutiny of private equity (EQT) that could move prices >15% intraday. Immediate risk window is +/-3 trading days around Jan 22; short term (1–3 months) for post‑report rebalancing and tax‑driven flows; long term (quarters) for strategic portfolio shifts. Hidden dependency: Investor’s public messaging often drives index flows in Sweden — small wording changes can trigger outsized passive/ETF reweights.

Trade implications: Tactical plays favor event exposure with defined risk: small directional equity exposure (1–3% portfolio) to INVE‑class shares ahead of the release, hedged with short‑dated puts or priced call spreads; pair trade long INVE‑B vs short OMXS30 futures to isolate active‑owner alpha. If the report signals increased EQT monetizations, overweight EQT (EQT) using 3‑month call spreads sized 2–4% of book; if language is defensive, buy puts on EQT or reduce exposure.

Contrarian angles: Consensus will likely expect steady stewardship—market may sell the news if no big realizations are announced. That creates opportunities to buy on 5–12% post‑report overreaction; conversely, a surprise special dividend or NAV uplift could be underpriced, offering 10–20% upside for 1–3 month horizon. Monitor wording around Patricia Industries and “Investments in EQT” — a >5% stated change in allocation or cash return policy should trigger re‑risking within 48 hours.

Key Decisions for Investors

• Establish a 1.5–2.5% long position in Investor AB (INVE‑B) ahead of the 22 Jan 2026 08:15 CET report; size with a hard stop at -8% and profit‑take at +10% within 2–4 weeks, hedge with 3–6 week ATM put to cap downside.
• Implement a relative value pair: long INVE‑B (1–2%) and short OMXS30 futures (equal notional) to capture active‑owner outperformance while hedging broader Sweden beta; hold 1–6 weeks and close within 48 hours of post‑report settlement.
• If the report discloses higher EQT realizations or increased allocation to PE, establish a 2–3% position in EQT (EQT) via a 3‑month call spread (buy 5–10% ITM, sell 20% OTM) to limit premium outlay and target asymmetric upside.
• If report language is neutral/defensive, buy 6–8% OTM 1–2 month puts on EQT (EQT) sized 1% of book or reduce existing EQT exposure by 30% within 72 hours to protect against regulatory/PE valuation shocks.
• Monitor specific report metrics in the first 48 hours: any stated allocation change >5% to EQT/Patricia, announced special dividend or buyback, or a NAV revision >±3% — these are automatic triggers to increase/decrease positions as above.