Kinnevik Results Presentation Deck

Intro Net Asset Value CAPITAL STRUCTURE As at 31 December 2022, Kinnevik had a net cash position of SEK 10.4bn, corresponding to 24 percent of portfolio value. This net cash position was mainly made up of SEK 14.0bn in cash and short-term investments, less 3.5bn in senior unsecured bonds with a remaining tenor exceeding 12 months (maturing in 2025, 2026 and 2028). During 2022, Kinnevik received SEK 1.1bn in ordinary divi- dends and 2.4bn in extraordinary dividends from Tele2. KINNEVIK Interim Report. Q4 2022 Portfolio Overview Sustainability FINANCIAL TARGETS Attractive Returns Kinnevik's objective is to generate a long term total return to our shareholders in excess of our cost of capital. We aim to deliver an annual total shareholder return of 12-15 percent over the business cycle. Low Leverage Given the nature of Kinnevik's investments, our goal is to carry low leverage, not exceeding 10 percent of portfolio value. Shareholder Remuneration Policy Kinnevik generates shareholder returns primarily through capital appreciation, and will seek to return excess capital generated by its investments to shareholders through extra dividends. Financial Statements Other 20

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