Kinnevik Results Presentation Deck

FOUR MATERIAL VALUATION RE-ASSESSMENTS IN OUR UNLISTED HEALTHCARE AND NORDIC ASSETS ON THE BACK OF STRONG PERFORMANCE AND TRANSACTIONS babylon PLEO VillageMD budbee I ■ ■ Valuation increase of more than 190% in line with recent fundraise Considerable premium to peers on a current year basis, at a normalized level looking into 2022 and beyond ■ Key Unlisted Valuation Changes Four Key Reassessments ■ Valuation increase of 73% on the basis of the agreed USD 4.2bn post-money valuation of the upcoming SPAC merger Valued on forward-looking revenue multiples of a peer group of i.a. Oak Street Health, Teladoc and One Medical Valuation increase of 8%, on the basis of a valuation of the company at around USD 11bn tinues to be at a fairly material, but slightly shrinking, discount to key direct-to-consumer care peers on a 2021 basis Discount has contracted on the back of continued strong performance and stable markets, and increasingly referencing forward- looking multiples in our calibration considering Village MD's materially higher growth rate than peers Valuation increase of 33% driven by multiple expansion compounded with continuously strong performance Valued on near-term forward-looking revenue multiples of a peer group of legacy logistics companies but with particular focus on last-mile e-commerce delivery company InPost We value Budbee at a >55% discount on an NTM basis to InPost, but at a significant premium to legacy peers 8 KINNEVIK

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