Kinnevik Results Presentation Deck

Intro Categories KINNEVIK IN SUMMARY • Value-Based Care • Virtual Care • Platforms & Marketplaces • Software (56)% One Year Value-Based Care Virtual Care Platforms & Marketplaces (6)% Software Consumer Finance Net Asset Value Annualised Total Shareholder Return 5% TMT Total Portfolio Five Years KINNEVIK Fair Value 8 342 2 507 2% 5 943 8 320 Five Year Annualised IRR per Category Note: The annualised total shareholder return includes reinvested dividends. 2 538 • Consumer Finance 5.5 Years Note: Financial metrics weighted by fair value as at 31 December 2022. For more information about the categories see Note 4 on pages 28-32. 9% 12% 13% Interim Report. Q4 2022 Ten Years Return 3.2x 2.5x 1.0x 2.9x 1.1x Portfolio Overview 57% 57% 56% Average Holding Period 3.1 Years 3.0 Years 3.4 Years 3.9 Years. 16% Thirty Years 5,742 (7,043) FY 2022 Sustainability 2022 Revenue Growth Investment Activity (SEKm) 60-70% 130-150% +10-20%/ +110-130% +135-155% +20-40% (1,301) 2022 Gross Margin Investments Divestments 5-15% 45-70% 30-40% / 45-60% 24% Net Investments 50-70% 40-60% 2,589 Financial Statements NTM EV/Revenue 0 2.5-3.5x 0.8-1.5x/4.5-5.5x 5.5-8.0x Q4 2022 10-20x 4-6x Net Cash to Portfolio Value 2,589 Other Composition of Portfolio Value Tele2 27% Emerging Markets 2% Consumer Finance 6% Early Bets & New Themes 7% 72.4 67.9 Value-Based Care 19% Q4'21 Q1'22 NAV Development (SEKbn) Virtual Care 6% Platforms & Marketplaces 14% Software 19% 61.1 58.0 52.9 Q2'22 Q3'22 Q4'22 6

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