Financial position

• Net Asset Value (NAV) amounted to 318 637 KSEK, corresponding to 9.93 SEK per share, which represents a decrease of -0.7% per share for the quarter.
• Net cash amounted to 19 369 KSEK, equivalent to 6% of NAV as of June 30, 2023.

The period April-June 2023

• Change in value of financial assets amounted to -233 KSEK (-23 040). The change in value includes an adjustment of the value of Instabee by -6 974 KSEK.
• Operating expenses amounted to 3 219 KSEK (1 498).
• Operating profit amounted to -3 452 KSEK (-24 538).
• The operating profit includes unrealized changes in value of -233 KSEK (-35 121).
• Profit after tax amounted to -2 993 KSEK (-23 132).
• Profit per share amounted to -0.09 SEK (-0.72).

The period January-June 2023

• Change in value of financial assets amounted to -25 299 KSEK (-48 660). The change in value includes an adjustment of the value of Instabee by -31 523 KSEK.
• Operating expenses amounted to 4 842 KSEK (2 552).
• Operating profit amounted to -30 141 KSEK (-51 212).
• The operating profit includes unrealized changes in value of -18 072 KSEK (-60 740).
• Profit after tax amounted to -28 778 KSEK (-44 529).
• Profit per share amounted to -0.90 SEK (-1.48).

Investments and divestments during the quarter

• During the quarter, the company made a new investment in OpenAI, the company behind the Chat-GPT platform. The investment amounted to 3 MUSD corresponding to 31 623 KSEK.
• In May, an additional investment was made in the existing portfolio company Getir, one of the world's leading logistics and technology companies offering hyper-fast deliveries. The investment amounted to 2 MUSD corresponding to 21 108 KSEK.

Other significant events during the quarter

• On May 4, 2023, Flat's Annual General Meeting decided to re-elect Sebastian Siemiatkowski, Amaury de Poret, Charlotte Runius and Marcelo Carvalho de Andrade as members of the Board. Sebastian Siemiatkowski was re-elected as Chairman of the Board.

Other events after the end of the quarter

• No significant events have occurred after the end of the quarter.

This text has been translated using DeepL.

Link to the report on the website:
https://www.flatcapital.com/en/investor-relations/

For further information, please contact:
Hanna Wachtmeister, CEO, hw@flatcapital.com, +46 (0) 70 661 60 05
Antonio Melani, CFO, am@flatcapital.com,+46 (0) 72 221 81 32

Certified Adviser:
Flat Capital's Certified Adviser is Augment Partners AB, info@augment.se, +46 (0) 8 604 22 55

About Flat Capital:
Flat Capital is an investment company that focuses on growth stage companies with prominent entrepreneurs in leading positions and primarily makes investments through its network of world-class investors and entrepreneurs. The company was founded in 2013 by entrepreneurs Nina and Sebastian Siemiatkowski (founders and CEOs of Milkywire and Klarna, respectively) and is led by CEO Hanna Wachtmeister together with an experienced board of directors. Examples of portfolio companies include Klarna, OpenAI, Instabee, Figma and DeepL. The company aims to provide long-term capital and is essentially a passive minority shareholder, while Flat Capital's experience and network are available to the extent the entrepreneur wishes. The aim is to facilitate successful company building and enable exposure to otherwise hard-to-reach and promising companies.
More information is available at www.flatcapital.com

Note: This is a non-official translation of the Swedish original text. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.