Kinnevik Results Presentation Deck

Intro SEKM NET ASSET VALUE LEGACY ASSETS, FINANCIAL POSITION & TOTALITY Tele2 Total Portfolio Value Gross Cash Gross Debt Net Cash / (Debt) Other Net Assets/(Liabilities) Total Net Asset Value Net Asset Value Per Share, SEK Closing Price, Class B Share, SEK Note: Growth Portfolio 30.3 Invested Capital Net Asset Value KINNEVIK SEKbn 39.2 7.5 31.6 Fair Value & Released Capital Vintage Interim Report Q4 2022 1993 Portfolio Overview tAssets/(Liabilities) include the reservation from Q4 2020 regarding a potential capital gains tax liability of SEK 0.8bn relating to the merger between Teladoc and Livongo, based on the rules for accounting for uncertain tax positions in IFRIC 23. Tele2 27% Ownership 20% 7% Listed Growth Value Q4 2022 11 752 43 385 Unlisted Growth 66% 14 134 - 3 747 10 387 - 866 52 906 188.90 143.50 Sustainability Composition of Portfolio Value Per quarter-end Tele2 27% 2016-22 Investments 71% Financial Statements 2% Pre 2016 Investments Other Value Q3 2022 13 291 46 233 16 275 - 3745 12 530 - 781 57 982 207.05 147.65 Value Q4 2021 24 240 67 541 10 549 -5 165 5 384 - 534 72 391 259.86 323.95 ASSESSMENTS OF FAIR VALUE OF UNLISTED INVESTMENTS In assessing the fair value of our unlisted investments, we apply IFRS 13 and the International Private Equity and Venture Capital Valuation Guidelines, whereunder we make an assessment to establish the valuation methods and points of reference that are most suitable and relevant in deter- mining the fair value of each of our unlisted investments. Read more in Note 4 on pages 28-32. MORE → 9

View entire presentation