Kinnevik Results Presentation Deck

LATEST FUNDING ROUND POSITIONS PLEO AS THE HIGHEST-VALUED B2B SPEND MANAGEMENT SERVICE IN EUROPE 2018 Q2 First Investment 14% Ownership SEK 646m Invested Capital SEK 5,884m Fair Value Co-Founders Jeppe Rindom and Niccolo Perra Further Proof Point For Our Nordic Venture Strategy >10x Return On Investment Since 2018 PLEO Offers smart payment cards to employees while making sure the company remains in full control of spending USD 25m invested in Pleo's latest funding round of USD 200m The round nearly triples Pleo's valuation from USD 1.7 bn to USD 4.7bn ■ ■ I I ■ The additional funds will further empower Pleo's plans to expand into Europe - with 15 territories marked for the immediate future - as well as supporting the company's growing customer base, hiring initiatives, and new spend management features Pleo today works with more than 20,000 businesses and processes their employees' aggregate annualised spend of over USD 1bn with strong customer satisfaction scores The wealth of data Pleo has access to compounds with the lack of innovation from incumbents and means that Pleo's addressable market can extend well beyond expense management into the offering of a holistic suite of financial tools to their clients Pleo currently offers smart company cards and expense management for businesses across Denmark, Sweden, Germany, Spain, Ireland and the UK. We continue to support our high-performing companies as they continue to grow and require additional capital 4 KINNEVIK

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