Kinnevik Results Presentation Deck

WE REDUCED OUR LEVERAGE BY MORE THAN 2.5 PERCENTAGE POINTS IN SPITE OF SIGNIFICANT DISTRIBUTIONS OF VALUE TO SHAREHOLDERS Change in Net Cash / (Debt) 3.9% +2.9 (2.3) (2.9) Y +6.2 (4.6) 2018 End (0.3) Our Financial Position % Leverage and SEKbn 1.3% (0.9) Net Investments Net Cash Dividends Other 2019 End 3.9 Cash & MMFs Composition of Net Cash / (Debt) (1.0) Commercial Paper (1.5) (1.0) (1.4) Bonds (2020-05, 2020-08 & 2022-03) Our financial position is strong, and provides the foundation needed to execute on our 2020-23 capital allocation plan We continue our transformation, and are looking to deploy slightly less capital in 2020 than in 2019 10 (0.9) Net Cash / (Debt) KINNEVIK

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