Kinnevik Results Presentation Deck

Intro Net Asset Value CAPITAL STRUCTURE As at 31 March 2022, Kinnevik had a net cash position of SEK 5.0bn, corresponding to 7.8% of portfolio value. This net cash position was mainly made up of SEK 8.6bn in cash and short-term investments, less SEK 3.5bn in senior unsecured bonds with a remaining tenor exceeding 12 months and 0.1bn in debt for unpaid investments. Tele2 has proposed ordinary and extraordinary dividends that would lead to Kinnevik receiving SEK 3.1bn in May and SEK 0.6bn in October, in total SEK 3.7bn whereof SEK 1.3bn in ordinary dividends and SEK 2.4bn in extraordinary dividends. KINNEVIK Interim Report Q1 2022 Portfolio Overview Sustainability FINANCIAL TARGETS Attractive Returns Kinnevik's objective is to generate a long term total return to our shareholders in excess of our cost of capital. We aim to deliver an annual total shareholder return of 12-15% over the business cycle. Low Leverage Given the nature of Kinnevik's investments, our goal is to carry low leverage, not exceeding 10% of portfolio value. Shareholder Remuneration Policy Kinnevik generates shareholder returns primarily through capital appreciation, and will seek to return excess capital generated by its investments to shareholders through extra dividends. Financial Statements Other 21

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