The Company presents an estimate of the potential value of its underlying assets. This figure should not be regarded as a guarantee that the Company’s shares will be valued at this level.
Instead, it represents the theoretical value of the asset base, assuming the Company can maintain the assets and successfully commercialise them through harvesting, further processing, and the sale of finished products.
The valuation is based on the assumption that the Company produces sawn and kiln-dried timber from the standing trees that currently constitute the Company’s assets and biomass.
Estimated net value of biological assets per share
as of 31 December 2025
€4.92 per share (in January 2026 equivalent to approx SEK 52.00 )
Registered shares in Tree Partner Solutions AB: 36,625,829
Additional shares not yet registered: 533,630
Total adjusted potential net value: €182,940,936
Valuation assumptions
The potential value is based on a valuation carried out by Dutch Green in 2022, using an inventory report prepared by BGF in 2021. The valuation has subsequently been adjusted for assumed biological growth in line with Dutch Green’s data, as well as for certain assumed losses based on more recent sample inspections.
The calculation is based on ITTO price indicators, i.e. international reference prices for tropical timber published by the International Tropical Timber Organization, for comparable sawn and kiln-dried timber (for 2025 approximately EUR 496 per m³). Deductions have been made for assumed harvesting and production costs corresponding to 40% of the sales price.
The presented figure therefore represents an estimated net value, assuming that the Company harvests, saws and kiln-dries the timber prior to sale on the open market.
