Key events during the fourth quarter · On 22 December it was announced that Starman has entered into an agreement to acquire 100 percent of Lithuanian cable-tv provider Cgates. The transaction has received approval from competition authorities and closing is expected within short. In connection to the acquisition, East Capital Explorer will make an additional investment, of approximately EUR 23m, in Starman by participating in a new share issue · The fair value of the investment in Starman was appreciated by 16.2 percent to EUR 39.5m and 3 Bures (former Vilnius Business Harbour) by 5.7 percent to EUR 24.2m, while Melon Fashion Group was impaired by 38.1 percent to EUR 35.1m and Trev-2 by 10.0 percent to EUR 8.5m · In December, East Capital New Markets Fund merged into East Capital Frontier Markets Fund. The new holding is classified as a short-term investment. In December, EUR 5.1m of the fund holding was redeemed · The Board of East Capital Explorer will propose a redemption program to the 2015 AGM, whereby 5 percent of outstanding shares can be redeemed at SEK 83 per share (NAV per share, 31 December 2014) Financial results for the fourth quarter(1) · The Group's net result for the fourth quarter 2014 was EUR -36.2m (25.3m), including EUR -35.6m (25.8m) changes in value of investments. Quarterly earnings per share amounted to EUR -1.21 (0.78) for the quarter · Net Asset value (NAV) per share decrease by 12.2 percent during the quarter, from EUR 9.94 to EUR 8.73 (9.85). The total NAV amounted to EUR 261m (309m) · Cash, cash equivalents and other short term investments on 31 December amounted to EUR 57.8m (20.3m) · The closing price of the East Capital Explorer share as of 31 December 2014 was SEK 42.50, equivalent to EUR 4.49, a decrease of 8.8 percent from 30 September 2014 (1)Comparable figures in brackets refer to the corresponding period 2013 Contact information Mia Jurke, CEO, +46 8 505 885 32 Lena Krauss, CFO and Head of Investor Relations, +46 8 505 885 94 Financial reporting calendar · Annual Report 2014 available in March 2015 · Annual General Meeting 2015 - 21 Apr 2015 · Interim Report, Q1 2015 - 13 May 2015 · Interim Report, Q2 2015 - 20 Aug 2015 · Interim Report, Q3 2015 - 5 Nov 2015 The information in this year-end report is the information which East Capital Explorer AB is required to disclose under Sweden's Securities Market Act. It was released for publication at 08:00 a.m. CET on 12 February 2015. [HUG#1893868]