Kinnevik Results Presentation Deck

A SLIGHTLY SLUGGISH REFLECTION OF PUBLIC MARKET MOVEMENTS MEANS OUR APPLIED MULTIPLES CHANGE WITH MORE SUSTAINED MARKET TRENDS 20.0x 17.5x 15.0x 12.5x 10.0x 7.5x 5.0x 2.5x (2.5)x (5.0)x Q1 2020 Q2 2020 Actual Investee Data, EV/2021 Revenues, Q1 2020-22 Q3 2020 Premium Peer Sets Q4 2020 Discount Q1 2021 Q2 2021 Peer Multiple Q3 2021 Investee Multiple Q4 2021 Q1 2022 Our valuation levels typically fluctuate less intensely around the same underlying trend as public market averages (Note that the chart illustrates multiples on an unchanged fiscal year and as such there is underlying expansion due to time-value of money and forward revenue growth) 9 KINNEVIK

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