Kinnevik Results Presentation Deck slide image

Kinnevik Results Presentation Deck

WE ARE PROVIDING MORE SPECIFIC, ALBEIT AGGREGATED, METRICS ON OUR UNLISTED COMPANIES RELATIVE TO THEIR MORE MATURE LISTED PEER GROUPS Note: Investment Value-Based Care Virtual Care Platforms & Marketplaces Software Consumer Finance Average Growth (2021) Kinnevik Unlisted Investee Averages 105-125% 215-235% 40-60% / 140-160% 130-150% 30-50% Average Gross Margin (2021) 5-15% 35-55% 30-40% / 60-80% New NAV Split Key Data Points 60-80% 50-70% Average EV/R (2022E) 5.5-7.5x 17.5-20x 1-3x/6-8x 30-40x 8-10x Average Growth (2021) 55% 80% 40% / 45% 35% 40% Peer Group Averages Average Gross Margin (2021) 25% Gross margins comparable to relevant peer groups, but not necessarily between NAV categories due to differences in business model and accounting standards 45% 40% / 80% 80% 55% Average EV/R (2022E) 18 3.0x 3.5x 1-3x/6x 11.5x The key drivers of our valuations relative to peers are (i) differences in growth rate and (ii) levels and recency of transactions 8x KINNEVIK
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