Kinnevik Results Presentation Deck

Intro Note 5 Dividends Received SEK m Tele2 Total dividends received Of which ordinary cash dividends Q3 2022 KINNEVIK Net Asset Value Q3 2021 Jan- Sep 2022 Interim Report Q3 2022 3 077 3 077 638 Jan- Sep 2021 FY 2021 1 126 1 689 1 126 1 689 Note 6 Interest Bearing Assets and Liabilities The net interest bearing assets amounted to SEK 12,863m and Kinnevik was in a net cash position of SEK 12,530m as at 30 September 2022. Kinnevik's total credit facilities (including issued bonds) amounted to SEK 8,630m as at 30 September 2022 whereof SEK 5,000m related to unutilised revolving credit facilities and SEK 3,500m related to bonds with maturity in 2-6 years. During the first quarter, SEK 1,210m in outstanding corporate bonds fell due for payment and the Group's available liquidity, includ- ing short term investments and available unutilized credit facilities, totalled SEK 21,104m as at 30 September 2022 (SEK 15,869m as at 31 December 2021). 563 1 126 Portfolio Overview SEK m Interest Bearing Assets Loans to investee companies Short term investments Cash and cash equivalents Revaluation of Swap Other interest bearing assets Total Interest Bearing Long Term Liabilities Corporate bonds Accrued borrowing cost Other interest bearing liabilities Total Interest Bearing Short Term Liabilities Corporate bonds Total Total Interest Bearing Liabilities Net interest bearing assets (+)/ liabilities (-) Sustainability Debt, unpaid investments/divest- ments/dividends receivables Net Interest Bearing Assets Net Cash/(Net Debt) for the Group 30 Sep 2022 231 13 692 2 282 301 129 16 635 3 500 -13 27 3 514 3 514 3 514 13 121 -258 12 863 12 530 30 Sep 2021 150 3 887 810 0 210 5 057 1 500 -13 34 1 521 1 400 1 400 2 921 2 136 -1 2 135 1 809 31 Dec 2021 137 6 684 3 860 5 210 10 896 3 500 -16 27 3 511 1 210 1 210 4 721 6 175 -471 5 704 5 384 Financial Statements Other Kinnevik currently has no bank loans outstanding, and its bank fa- cilities when drawn carry variable interest rates. Debt capital market financing consist of commercial paper and senior unsecured bonds. Commercial paper is issued with a maximum tenor of 12 months un- der Kinnevik's SEK 5bn commercial paper program, and senior un- secured bonds are issued with a minimum tenor of 12 months under Kinnevik's SEK 6bn medium term note program. In order to hedge interest rate risks, Kinnevik has entered into a number of interest rate swap agreements whereby it pays a fixed annual interest rate also on bonds with a floating rate coupon. The derivatives had a positive market value of SEK 301m at the end of the quarter and are marked to market based on discounted cash flows with observable market data. The derivatives are covered by ISDA agreement. As at 30 Sep- tember 2022, the average interest rate for outstanding senior un- secured bonds amounted to 1.3 percent and the weighted average remaining tenor for all Kinnevik's credit facilities amounted to 2.4 years. The carrying amount of the liabilities is a reasonable approxi- mation of fair value as they bear variable interest rates. 37

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