Financial Report for the First Quarter 2017 (VNV Global)

Summary

• Net result for the period was $17.33 million, with earnings per share of $0.20.p.1
• Net asset value was $741.69 million on March 31, 2017, corresponding to $8.67 per share.p.1
• Net asset value per share in USD increased by 2.4%, mainly driven by the revaluation of Wallapop and Avito.p.1
• The Company repurchased 174,100 SDRs during the reporting period.p.1
• Vostok invested a total of £17.3 million in babylon, in the context of a larger $60 million financing round.p.1
• The stake in Avito is valued at $459.7 million ($3.6 billion for the entire company), a 2.3% increase, and represents 59.2% of the portfolio.p.4

Key insights

1. The babylon investment will make Vostok a 10% shareholder in the company.p.2
2. CarZar, a South African used-car marketplace, received a $1.5 million investment.p.2
3. Wallapop's valuation increased 60% year to date.p.6
4. BlaBlaCar has over 40 million members in 22 countries.p.5
5. Gett's addressable market within its existing markets is worth some $30 billion.p.5