Kinnevik Results Presentation Deck

WE HAVE SEK 12.5BN IN NET CASH, PROVIDING NET CASH RUNWAY WELL INTO 2024, AND EXPECT TO INVEST SLIGHTLY MORE THAN SEK 5BN IN 2022 ■ ■ ■ We held a SEK 12.5bn net cash position at quarter-end (SEK 13bn pro forma the second tranche of Tele2's ordinary dividend) We expect to invest slightly more than our SEK 5bn benchmark target in 2022 Year to date, we have invested SEK 3.2bn split approximately 60/40 between new and follow-on investments We estimate that private investees corresponding to almost 70% of the total fair value of our unlisted investments are fully funded or have runway into 2024, with 12% having a runway that ends within the next 9 months At a sustained SEK 5bn p.a. investment momentum, Kinnevik has net cash runway well into late 2024 even without any inflows Financial Strength Overview Investee Cash Runway Indicative, % of Fair Value 5% <3 Months 3-9 Months 21% 9-15 Months 6% 69% >15 Months or Fully Funded 12.5 10.0 7.5 5.0 2.5 Q4 2018 Capital Rotation & Financial Strength Since Q4 2018, SEKbn LTM Investments LTM Divestments -Net Cash/(Debt) as X of LTM Investments Our financial strength provides us with the ability to pursue opportunities as and when they arise in the current market 8 2.5x 2.0x 1.5x 1.0x Q3 2022 0.5x KINNEVIK

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