Kinnevik Results Presentation Deck

OUR UNDERLYING VALUE REASSESSMENT OF (13) % IS INVERTED TO +1% BY DEAL VALUATIONS AND POSITIVE EFFECTS FROM PREFERENCES AND CURRENCIES ■ Two transactions guide our marks in Q3 - Budbee, ascribed a >20% higher valuation in the Instabox merger relative to our Q2 2022 valuation M ■ Monese, raising preferred capital at a considerable value uplift (which we discount due to the terms provided to the strategic investor) Before taking preferences and currencies into direct account, we are writing down our private portfolio by around 6% - fairly in line with broader market benchmarks Liquidation preferences provide a SEK 0.4bn positive effect, adding to last quarter's accrued difference to underlying pro rata valuations - now totalling SEK 2.7bn in 'off-balance sheet debt' that can be amortized through write-ups of the handful of businesses affected ■ Currencies primarily the dollar provided a SEK 1.5bn positive effect in the third quarter, with the year-to-date effect amounting to SEK 3.9bn - Q3 2022 Valuations of Unlisted Assets Put in Perspective Average Write-Down (13)% Quarterly Write-Down Bridge From Underlying Assessments to NAV Impact, % Change After Q3 Transactions (11)% Weighted by Value (6)% After Preferences (4)% After Currencies 5 +1% In another market-driven quarter, valuations are broadly in line with the share price development observed in our publicly listed peer sets KINNEVIK

View entire presentation