Olof Svensson
Head of Shareholder & Bondholder Relations

Good morning, everyone, and welcome to EQT's Q1 announcement 2026. It's been a busy first quarter at EQT. We kicked off the year by announcing the combination with Coller Capital. In Galderma, we completed the largest sponsor-backed block trade ever to deliver the largest single fund capital gain ever. We closed BPEA IX at hard cap. We launched our new AI Infrastructure strategy, and we had a record quarter in terms of net inflows to our evergreens.

This quarter again faced significant volatility across markets, which affected our fund valuations in different directions. So we'll cover all of these points in further detail over the next 30 minutes. And with that, let me hand over to Per. Next slide, please.

Per Franzén
CEO & Managing Partner

Thank you, Olof, and good morning, everyone, from EQT's London office. It's been a volatile quarter, driven by rapid advances of AI technology as well as geopolitical uncertainty. And that uncertainty having a short-term impact on energy prices and also the broader macroeconomic outlook.

In this environment, at EQT, we remain focused on executing on our strategic priorities. And as we're entering the second quarter, I'm happy to say that we continue to see