Kinnevik Results Presentation Deck

KEY STRATEGIC HIGHLIGHTS IN THE THIRD QUARTER OF 2020 ■ Key Highlights Zalando raised its full-year 2020 outlook on the back of exceptionally strong and profitable growth in the third quarter ■ NAV 30 SEPTEMBER 2020 SEK 107.9BN ■ CHANGE IN NAV Q/Q 23% Livongo and Teladoc announced the intention to merge their businesses, creating an unmatched, comprehensive platform for virtual healthcare delivery Invested in Common, a residential brand and tech-enabled managed rental housing marketplace in the US, and thereby broadening our Consumer Services portfolio towards business models that reflect broader consumer trends Made our first investment in the Nordic healthcare space through an investment in Joint Academy, a Swedish digital health company specialised in the treatment of chronic joint pain Our healthcare and online food companies see continued strong demand and inflow of new customers, with indications of a more lasting shift in consumption patterns Continued negative impacts from Covid-19 in our travel and emerging market businesses I Investment Management Activities We remain focused on re-allocating capital dynamically to ensure our portfolio remains balanced and vibrant. In the quarter, we invested SEK 732m in total, including: 1-YEAR TSR 85% ■ 5-YEAR TSR 21% I The extra dividend of SEK 1.9bn from the Zalando sell-down was distributed to shareholders during the quarter ■ O SEK 232m into Village MD as part of the funding round led by Walgreens Boots Alliance O SEK 184m into Common O SEK 131m into Joint Academy O SEK 114m into Omio, in connection with the company's convertible loan raise We divested our 12% shareholding in Home24, generating net proceeds of EUR 21m, and completed our Qliro Group exit by swapping our residual stake for shares in MatHem Financial Position NAV of SEK 107.9bn (SEK 388 per share), up SEK 20.3bn or 23% in the quarter, adding back paid dividend of SEK 1.9bn Net cash position of SEK 3.0bn, corresponding to 2.9% of portfolio value by quarter-end. Adjusting for the dividends received from Tele2 in early October, our net cash position amounted to SEK 4.2bn 3 KINNEVIK

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