VNV Global — Net Asset Value 2012

Apr 3, 2012

Press Release April 3, 2012

Net asset value as of March 31, 2012: USD 5.51 (SEK 36.47) per share

Net asset value per share: USD: 5.51, SEK: 36.47

Change in net asset value (USD/share) March 2012: -1.87%

RTS index development, March 2012: -5.61%

Three largest holdings, March 31, 2012 (Share of Portfolio):

1. TNK-BP Holding 22.5%

2. Black Earth Farming 15.2%

3. Tinkoff Credit Systems 11.7%

Vostok Nafta's estimated net asset value as of March 31, 2012 amounted to approximately USD 525.47mln (SEK 3,479.07mln according to USD/SEK 6.6209). Net cash as of March 31 amounted to USD 126.88mln. The number of outstanding shares as of March 31, 2012 was 95,404,657. For the shares in the portfolio that are listed, the market value has been calculated by using the last available closing bid price as at March 31, 2012.

This report has not been subject to review by the company's auditors.

Per Brilioth Managing Director

For further information please contact: Robert Eriksson, Head of Investor Relations, Tel +46 8 545 015 50