Investor AB

M&A Activity • Sep 2, 2021

Press release

Stockholm, September 2, 2021

Investor supports Agnafit Bidco's bid for Sobi

Investor AB has undertaken to accept today's public offer by Agnafit Bidco1 for the shares in Swedish Orphan Biovitrum AB (publ) (Sobi) at a price per share of SEK 235. Investor owns 107.6 million shares in Sobi, representing 35.4 percent of the capital and votes. The offer values Investor's shares in Sobi at SEK 25.3bn, corresponding to 21x the invested amount, or an IRR of 28 percent.

In 2010, Investor was instrumental in the creation of Sobi as the lead shareholder of its predecessors Swedish Orphan International (SOI) and Biovitrum.

"During Investor's ownership, Sobi has successfully built a leading hemophilia franchise greatly benefitting patients. In addition, the company has with our support broadened its product portfolio within Hematology and Immunology, organically and through major acquisitions. This has created significant value for Sobi's and Investor's shareholders. Sobi's Board of Directors has recommended Sobi's shareholders to accept the offer. We believe that the offer is financially attractive. Advent International, the lead investor in Agnafit Bidco, has a well-proven track record of healthcare investments.

Assuming completion of the offer, Investor's financial position will be further strengthened. We intend to utilize this strength by continuing to invest in existing and new platform companies within Patricia Industries, selectively invest within Listed Companies as well as in EQT funds", says Investor's President and CEO Johan Forssell.

Investor's undertaking to accept the offer will lapse under certain circumstances, including if a third party makes a competing offer for Sobi at a price per share of SEK 251 or more and such offer is unanimously recommended by the Sobi board. Full details are provided in Agnafit Bidco's offer announcement press release today.

¹ Agnafit Bidco AB is indirectly owned by Advent International Corporation and Aurora Investments Pte Ltd, a nominated investment vehicle of GIC Special Investments Pte Ltd, which is a subsidiary of GIC Pte Ltd.

Assuming that the offer is declared unconditional, the transaction is expected to be completed in the fourth quarter 2021. Completion of the offer is conditional upon, among other things, the receipt by Agnafit Bidco of all necessary regulatory approvals and that the offer is accepted to such an extent that Agnafit Bidco becomes the owner of more than 90 percent of the shares in Sobi.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability Phone +46 705 50 35 00 viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations Phone +46 735 24 21 30 magnus.dalhammar@investorab.com

Our press releases can be accessed at www.investorab.com.

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high-quality, global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include among others ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

Investor AB (publ) Arsenalsgatan 8C SE-103 32 Stockholm, Sweden +46 8 614 20 00 Reg.no 556013-8298 www.investorab.com