Nasdaq Nordic Structure and Process Nasdaq offers markets tailored to suit companies of all maturity levels More than 80 companies have matured and transitioned from Nasdaq First North GM and Nasdaq First North Premier GM to the Main Marketsince 2007. LARGE CAP > EUR 1 Bn MID CAP < EUR 1 Bn and > EUR 150 M SMALL CAP < EUR 150 M 2 Key differences in requirement Many requirements are the same on the different markets, such as competence in exchange rules, application of MAR (Market Abuse Regulation), 12 months working capital etc., but there are some key differences. NASDAQ FIRST NORTH NASDAQ FIRST NORTH NASDAQ GROWTH MARKET PREMIER GROWTH MARKET MAIN MARKET FREE FLOAT 10% 25% 25% OPERATING HISTORY ≥6 months ≥6 months 3 years MARKET VALUE n/a > 10 MEuro > 1 MEuro DISCLOSURE Company Description1) Company Description1) Prospectus FINANCIAL REPORTING Local Accounting Std. IFRS IFRS CORP. GOVN. CODE No Yes Yes 1) Prospectus needs to be provided if the law so requires, or if the company prefers 3 ILLUSTRATIVE First North Growth Market Listing Timeline Meet your Nasdaq contact Filing of prospectus to FSA and gain knowledge on Draft prospectus or (If public offering, allow 4 listing opportunities company description weeks for approval) Approval for Internal preparations Approval of admission to trading prospectus Listing Day for becoming a Apply public company • Welcoming ceremony Choose for listing at the Exchange Certified Adviser • Share trading starts • Release distribution & marketing Preparation phase Formal listing process 2-3 months Define transaction Decision structure and Preparations to list offering • IR website Book Due Diligence • Release distribution start-up • Pre-marketing Pre-audit meeting Start-up • Analyst meetings meeting at the • Roadshow Exchange COMPANY EXCHANGE ADVISER FSA CERTIFIED *For illustrative purposes only. Local market variation may exist. ADVISER MAR and the Nasdaq First North Growth Market Rulebook applies from the time of application. 4 Transcendent Group Sum Up Benefits with going public KEY ADVANTAGES WITH GOING Cost of Capital PUBLIC INCLUDE: Research Employees • increased possibilities to financing, Follow-Ons Investors Shares as Founders • amplified visibility, Currency • enabling liquidity in the share, Brand Building Public Price Tag Customers and • enhanced valuation Suppliers Public Company Public Funds Premium and Indexes 7 Is it worth going public? PROS CONS Pros and Cons with going public will be evaluated differently depending on the company, its structure, strategy, owners, corporate set up, etc. The earlier a company start planning for going public the easier the process. 8 To be on a Growth Journey with Nasdaq CREDIBILITY Partners, customers, employees VISIBILITY Nasdaq global network, social media, events, investor meetings COLLABORATIONS EU organisations such as EIC, EIF and EIF, Business Sweden, Invest in Stockholm, German-Swedish Chamber of Commerce, Swedish American Chamber of Commerce SACCNY 9 Thank You! Niclas Holmberg Maria Groschopp Dellwik Managing Director Global Listings Sweden Strategy & Business Development Global Listings +46 73 449 7142 +46 73 449 7056 [email protected] [email protected] 10.