Kinnevik Results Presentation Deck

Intro Note 5 Dividends Received SEKM Tele2 Total Dividends Received of which Ordinary Cash Dividends Q2 2023 468 468 KINNEVIK Net Asset Value Q2 2022 3 077 3 077 468 638 H1 H1 2023 2022 468 468 Interim Report Q2 2023 468 3 077 3 077 638 FY 2022 3 538 3 538 Note 6 Interest Bearing Assets and Liabilities The net interest bearing assets amounted to SEK 9,148m and Kinnevik was in a net cash position of SEK 8,786m as at 30 June 2023. Kinnevik's total credit facilities (including issued bonds) amounted to SEK 8,630m as at 30 June 2023 whereof SEK 5,000m related to unutilised revolving credit facilities and SEK 3,500m related to bonds with maturity in 2-5 years. 1 099 The Group's available liquidity, including short term investments and available unutilized credit facilities, totalled SEK 17,648m (22,349) as at 30 June 2023. Portfolio Overview SEKM Interest Bearing Assets Loans to Investee Companies Short-term Investments Cash and Cash Equivalents Interest Rate Swaps Revaluation Other Interest Bearing Assets Total Interest Bearing Long Term Liabilities Corporate Bonds Accrued Borrowing Cost Other Interest Bearing Liabilities Total Total Interest Bearing Liabilities Net Interest Bearing Assets/(Liabilities) Sustainability Net Unpaid Divestments and Di- vidend Receivables/(Investments) Net Interest Bearing Assets Net Cash/(Debt) for the Group 30 Jun 2023 254 10 859 1 383 276 129 12 901 3 500 -13 21 3 508 3 508 9 393 -245 9 148 8 786 30 Jun 2022 71 13 690 3 277 251 131 17 420 3 500 -14 27 3513 3513 13 907 -141 13 766 13 592 31 Dec 2022 225 10 738 3 110 286 129 14 488 3 500 -12 21 3 509 3 509 10 979 -259 10 720 10 387 Financial Statements Other Kinnevik currently has no bank loans outstanding, and its bank facilities when drawn carry variable interest rates. Debt capital market financ- ing typically consist of commercial paper and senior unsecured bonds. Commercial paper may be issued with a maximum tenor of 12 months under Kinnevik's SEK 5bn commercial paper program, and senior unse- cured bonds may be issued with a minimum tenor of 12 months under Kinnevik's SEK 6bn medium term note program. In order to hedge interest rate risks, Kinnevik has entered into a number of interest rate swap agreements whereby it pays a fixed annual interest rate also on bonds with a floating rate coupon. The derivatives had a positive market value of SEK 276m at the end of the quarter and are marked to market based on discounted cash flows with observable market data. The derivatives are covered by ISDA agreement. As at 30 June 2023, the average interest rate for outstanding senior unsecured bonds amounted to 1.3 percent and the weighted average remaining tenor for all Kinnevik's credit facilities amounted to 1.7 years. The carrying amount of the liabilities is a reasonable approximation of fair value as they bear variable interest rates. 39

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