VEF AB

Transaction in Own Shares • Oct 31, 2022

VEF share buybacks during w. 43, 2022

During the period October 24 – October 28, 2022 VEF AB (publ) ("VEF" or the "Company") has repurchased in total 850,195 ordinary shares as part of the buyback program launched by the Board of Directors to optimize the Company's capital structure.

The buyback program is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation 2016/1052 (the "Safe Harbour Regulation").

Date Aggregated daily volume (# shrs) Weighted avg PPS (SEK) Total daily transaction value (SEK) 2022-10- ²⁴ 130,195 2.54 330,240 2022-10- ²⁵ 180,000 2.72 490,284 2022-10- ²⁶ 180,000 2.73 491,562 2022-10- ²⁷ 180,000 2.72 489,456 2022-10- ²⁸ 180,000 2.62 471,942

Ordinary shares of VEF have been repurchased as follows during this period:

All trades have been carried out on Nasdaq Stockholm by Carnegie Investment Bank AB on behalf of VEF. As of October 28, VEF holds 9,554,266 repurchased shares. The total number of outstanding ordinary shares excluding repurchased shares amounts to 1,045,135,712.

For further information please contact:

Henrik Stenlund, CFO: +46 (0) 8-545 015 50

About Us

VEF AB (publ). is an investment company whose Common Shares are listed in Sweden. We invests in growth stage private fintech companies, take minority stakes and are active investors with board representation in our portfolio companies, always looking to back the best entrepreneurs in each market. We focus on scale emerging markets and invest across all areas of financial services inclusive of payments, credit, mobile money and wealth advisors. VEF trades in Sweden on Nasdaq Stockholm's Main Market under the ticker VEFAB. For more information on VEF, please visit http://www.vef.vc.

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VEF share buybacks during w. 43, 2022