HILBERT GROUP PUBLISHES INTERIM REPORT FOR THE FIRST QUARTER 2023

(compared to first quarter 2022)

• Revenues amounted to KSEK 5,979.2 (KSEK 3,765.9)
• Operating profit/loss (EBIT) totaled KSEK -8,038.8 (KSEK -7,165.3)
• Result for the period was KSEK -8,831.7 (KSEK -5,612.1)
• Cash flow from operating activities amounted to KSEK -4,945.0 (KSEK -1,456.0)
• Earnings per share before and after dilution amounted to SEK -0.16 (SEK-0.12)

Highlights from the CEO’s address

General

Hilbert’s specific scalable approach of using quant analytics to extract alpha from digital assets, is now gaining major traction with institutions. Year-to-date, we have welcomed several new institutional investors in our funds and expect many of our ongoing discussions to materialise in new investments throughout 2023. That we have been able to attract institutional capital even during an extreme crypto winter is a testament to our coherent and strong value proposition on the asset management side.

Funding of Hilbert Group

On the funding side, as previously communicated, we have now closed on the first tranche of the convertible loan which means that we raised an additional SEK 22.6 million. The completion of this funding tranche puts the firm in a comfortable position to be able to fully execute on our expansion of the asset management side of Hilbert.

Asset Management

On 1 May 2023, Hilbert successfully opened its third fund, Hilbert V30 Fund, to external investors. The day 1 participants included a leading US institution. Hilbert V30 Fund uses a dynamic blend of alpha and beta to produce a convex upside return profile. The Hilbert V30 strategy was traded as a proprietary account from 1 May 2022 and in its first 12 months achieved a net return of +15.9% versus a loss of 50.3% for the broader crypto market.

For further information, please contact:

Niclas Sandström
CEO Hilbert Group AB
+46 (0)8 502 353 00
[email protected]