Kinnevik Results Presentation Deck

IN THESE TURBULENT TIMES, KINNEVIK'S FINANCIAL POSITION REMAINS STRONG AND OUR PORTFOLIO IS SHOWING RELATIVE RESILIENCY Key Developments ■ NAV 31 MARCH 2020 SEK 64.9BN ■ CHANGE IN NAV Q/Q (11)% Consumer Services: Nordic online groceries have experienced a surge in demand with record customer intake, operating at maximum capacity. Fashion e-Commerce has suffered from lower sales growth resulting in inventory write-downs, though showing relative resilience compared to physical retailers. The crisis' effect on the travel industry has been severe, and our companies are focusing on product development and continued customer acquisition Financial Services: Extreme market volatility has negatively impacted our companies' short-term performance, but they have a loyal and engaged customer base, and a steady inflow of deposits and engagement Healthcare Services: Our digital health companies are working hard to service their populations and clients, with restrictions on mobility increasing the number of people seeking virtual medical care TMT: Operating in a resilient sector providing connectivity at a time of social distancing, Tele2 is well placed to provide its important services to its customers Investment Management Activities Total investments of SEK 403m in the quarter, including: SEK 150m in MatHem's funding round, bringing our ownership stake to 36% SEK 106m in Budbee's funding round, bringing our ownership stake to 30% SEK 74m in Town Hall Ventures' Fund II, an investment made in part to deepen our strategic ties with the reputable earlier stage investment platform ■ ■ 1-YEAR TSR (10)% ■ 5-YEAR TSR (1)% Financial position NAV of SEK 64.9bn (SEK 235 per share), down SEK 8.4bn or 11% in the quarter with some overall currency tailwind Net debt position of SEK 1.5bn, corresponding to a leverage of 2.2% of Portfolio Value by quarter end Kinnevik issued SEK 1.5bn in new bonds in the quarter Organisation Erika Söderberg Johnson joined Kinnevik as Chief Financial Officer on 6 April Anna Stenberg will join Kinnevik as Chief People and Platform Officer in May 3 KINNEVIK

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