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 20.1 Net Invested Cash Net Asset Value KINNEVIK SEKbn 32.9 Fair Value 2022 Q3 Vintage Interim Report Q3 2022 1993 Portfolio Overview Tele2 29% Ownership 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. 20% 5% Listed Growth Value Q3 2022 Unlisted Growth 66% D 13 291 46 233 16 275 - 3 745 12 530 - 781 57 982 207.05 147.65 Sustainability Composition of Portfolio Value Per quarter-end Tele2 29% 2016-22 Investments 68% Financial Statements 3% Pre 2016 Investments Value Q2 2022 16 025 48 341 17 218 - 3 626 13 592 - 793 61 140 218.32 164.75 Other Value Q4 2021 24 240 67 541 10 549 -5 165 5 384 - 534 72 391 259.86 323.95 Value Q3 2021 24 3 74 527 4 784 - 2 975 1 809 - 492 75 844 272.97 308.55 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 29-33. MORE → 9

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