Kinnevik Results Presentation Deck

Intro CHANGE IN FAIR VALUE OF FINANCIAL ASSETS (SEKM) Babylon Global Fashion Group Recursion Teladoc Tele2 Total Listed Holdings Betterment Cedar Cityblock HungryPanda Instabee Jobandtalent Lunar Mathem Mews Monese Oda Omio Omnipresent Parsley Health Pelago Pleo Spring Health Net Asset Value KINNEVIK Q2 2023 Interim Report Q2 2023 - 240 - 290 164 - 1 905 - 2 272 60 - 35 147 31 31 52 43 55 20 70 - 343 30 27 14 16 209 454 Q2 2022 - 1 457 - 177 - 1 221 - 4 683 - 7 538 20 - 223 - 405 - 73 546 35 - 278 1 6 - 381 276 5 - 49 28 831 93 Portfolio Overview H1 2023 - 324 - 436 79 113 531 - 38 53 -7 458 41 - 283 67 41 -73 26 - 179 - 535 27 36 85 14 166 681 H1 2022 - 2 365 - 2 386 - 1 909 - 2 188 - 8 848 - 171 - 464 - 1 077 - 135 546 42 - 215 - 555 -9 - 486 265 -4 - 43 36 - 1 382 120 FY 2022 - 2 862 - 2 607 - 229 - 2 255 - 6 460 - 14 414 - 148 - 863 - 1 249 - 131 312 83 - 544 - 1 218 9 298 - 1 355 277 1 - 41 30 - 2 532 137 Sustainability Sure Transcarent TravelPerk Village MD Vivino Early Bets & New Themes Emerging Markets & Other Total Unlisted Holdings Financial Statements Other Contractual Rights Total whereof unrealized gains/losses for as- sets in Level 3 Q2 2023 Village MD Pleo Spring Health Total Effect SENSITIVITY ANALYSIS AGAINST MULTIPLES Fair Value (SEKm) Change in Multiple 22 26 111 - 561 - 128 161 9 459 -4 - 1 817 455 -20% 3 549 Q2 2022 2 833 2 683 9 065 - 2319 46 56 171 - 589 52 - 320 - 258 - 2 073 - 90 - 9 701 -10% 4 050 3 176 3 000 Other 10 226 -1 158 H1 2023 19 23 112 - 55 - 189 254 9 791 - 12 742 Actual H1 2022 4551 3518 3 315 11 384 59 69 220 - 2 163 780 - 5 442 - 8 442 Change in unrealized gains or losses for assets in Level 3 for the period are recognised in the Income State- ment as change in fair value of financial assets. - 974 67 - 523 - 671 - 5 285 - 157 - 14 290 +10% FY 2022 5 052 3861 3 630 12 543 1 159 68 79 242 - 52 77 - 694 - 1 031 - 8 247 - 195 - 22 856 +20% 5 553 4 203 3 944 13 700 2316 In addition to sensitivities of our three largest unlisted businesses above, for all companies valued using mul- tiples, an increase in the multiple by 10 percent would have increased the assessed fair value by SEK 2,461m. Similarly, a decrease in multiple by 10 percent would have decreased the assessed fair value by SEK 2,298m. 36

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