Interim Report January – September 2015

Key events during and after the quarter

»   Net Asset Value (NAV) per share was EUR 8.96, which corresponds to an increase of 2.6% since year-end, and a decrease of 3.9% since 30 June. Total NAV was EUR 252m

»   Starman was appreciated by EUR 9.8m, while Melon Fashion Group was impaired by EUR 12.3m by 30 September

»   East Capital and East Capital Explorer announced that a review of the Investment Agreement is being conducted. Share buybacks will not be resumed during this process

»   0.52% of the company’s shares were repurchased during the quarter, adding to a total of 1.11% during the year

»   Fund holdings equivalent to EUR 5.0m were sold during the quarter

»   In line with the aim of increasing the portion of Real Estate investments, the company has committed to invest EUR 20m in the new fund East Capital Baltic Property Fund III. The first draw-down is expected during Q4

»   EUR 13.2m was distributed to shareholders in July under the third redemption program. The aggregate shareholder distribution during the three-year program was EUR 41.0m, corresponding to an annual yield of 7-8% during 2013-2015

»   EUR 9.4m was received from East Capital Russia Domestic Growth Fund in November as part of the planned fund liquidation. The amount corresponds to approximately 91% of East Capital Explorer’s holding in the fund


Contact information
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32
Lena Krauss, CFO and Head of Investor Relations, East Capital Explorer, +46 73 988 44 66

About East Capital Explorer
East Capital Explorer AB (publ) is a Swedish investment company, created with the specific aim of bringing unique investment opportunities in Eastern Europe to a broader investor base. The company makes direct investments into private and public companies as well as real estate, but investments are also made through East Capital’s alternative investment funds. East Capital Explorer’s main investment theme is domestic growth and the Company targets fast growing sectors such as Retail and Consumer goods, Financials and Real Estate. East Capital Explorer has appointed East Capital to manage its investment activities. East Capital Explorer is listed on Nasdaq Stockholm, Mid Cap.

Listing: Nasdaq Stockholm, Mid Cap - Ticker: ECEX - ISIN: SE0002158568 -
Reuters: ECEX.ST - Bloomberg: ECEX SS Equity

The information in this interim report is the information which East Capital Explorer AB is required to disclose under Sweden's Securities Markets Act. It was released for publication at 08:00 a.m. CET on 5 November 2015.