Investor AB Investor Day Presentation Deck

Introduction to Sarnova Financial Overview ● ● $700 $600 $500 $400 $300 $200 $100 $0 Attractive financial characteristics Asset-light business model ● HI 2017 2018 Sales 2019 -EBITA, % 2020YTD 12% 11% 10% 9% Strong cash conversion profile Margin stability despite significant growth and infrastructure investments 126

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