Kinnevik Results Presentation Deck

KEY STRATEGIC HIGHLIGHTS IN THE SECOND QUARTER OF 2020 ■ Key Highlights Completed a sell-down of a 4.4% stake in Zalando, generating net proceeds of SEK 6.7bn and providing us with increased financial flexibility to execute on our strategy ■ ■ ■ NAV 30 JUNE 2020 SEK 89.6 CHANGE IN NAV Q/Q 38% The Board of Directors proposed an extraordinary cash distribution of SEK 7 per share, or SEK 1.9bn in total. The distribution follows the sell-down in Zalando and is subject to approval by an EGM to be held on 19 August 2020 Continued to build our healthcare portfolio with a new investment into Cityblock, and follow-on investments in Cedar and VillageMD, which together with material value uplifts has brought our healthcare businesses' share of our portfolio value to 17%, compared to 3% a year ago Established climate targets in line with the Paris Agreement to significantly reduce greenhouse gas emissions from Kinnevik's own operations and from our businesses ■ Continued negative impacts from Covid-19 in our travel and emerging market businesses 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 400m in total, including: SEK 235m in Cityblock, a value-based care provider focused on complex, underserved urban populations ■ ■ . ■ I ■ 1-YEAR TSR 31% ■ SEK 74m in Cedar's funding round SEK 28m in secondary shares in Village MD Total divestments of SEK 6.9bn in the quarter, of which: SEK 6.7bn from the Zalando sell-down SEK 198m from the sale of a 23% stake in Qliro Group Financial Position NAV of SEK 89.6bn (SEK 323 per share), up SEK 24.7bn or 38% in the quarter Net cash position of SEK 5.5bn, corresponding to 6.6% of portfolio value by quarter-end, and amounting to SEK 3.6bn adjusted for our upcoming SEK 1.9bn extraordinary cash distribution to shareholders 5-YEAR TSR 9% Events After the Quarter On 8 July, Kinnevik invested USD 25m in Village MD's funding round led by Walgreens Boots Alliance During early July, Kinnevik fully exited its 12% shareholding in Home24, generating net proceeds of EUR 21m 4 Ο ΚΙΝΝΕVIK

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