Investor to start providing supplementary information about unlisted holdings within Patricia Industries

In line with our ambition to continuously improve the transparency in our external reporting, as a supplement to the reported book values, we will start providing estimated market values for the major wholly-owned subsidiaries and partner-owned investments within Patricia Industries.

When Investor started building the portfolio of unlisted holdings, predominantly by acquiring wholly-owned subsidiaries, the book values reflected the estimated market values of these companies reasonably well. However, over time, the gap between reported book values according to IFRS and the estimated market values has widened. Therefore, we will start to provide the supplementary information to facilitate the evaluation of Investor AB’s net asset value. This information will also increase the consistency between the valuation of Listed Core Investments and our unlisted holdings.

The estimated market values will be based on valuation multiples of relevant listed peers and indices. While these values might not necessarily reflect our view of the intrinsic values, they reflect how the market prices similar companies.

This change will start with the Interim Management Statement January – March 2017, to be released in April, 2017.