Kinnevik Results Presentation Deck

OUR NORDIC FOOD AND LAST MILE COMPANIES CONTINUE TO SEE STRONG DEMAND AND ARE RAMPING UP EFFORTS TO IMPROVE THE CUSTOMER EXPERIENCE ► MatHem saw demand for its service grow quickly as the pandemic reached Sweden in late-February, reaching levels never seen before in the company's 10-year history I MatItem.se. Opened up a second warehouse in Stockholm, and signed a new warehouse in Gothenburg Started releasing delivery slots two days in advance instead of all slots being open at all times Customers are responding well, however, satisfying the surge in demand has created efficiency challenges, negatively impacting margins Revenues LTM (SEKm) +13% 1423 1 467 1 509 1 542 1606 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Our Food and Last Mile Companies Update ■ 1 Kolonial experienced a significant surge in demand during the first weeks of March following the outbreak of Covid-19, with customer intake 10x higher than normal levels during the peak Kolonial.no Doubled its capacity by adding a third shift on the picking line as well as launching pre-packed food boxes in under 48 hours Has successfully grown its active customer base, reaching single-households and the elderly more efficiently, and now directing significant efforts into retaining the new shoppers on its platform Revenues LTM (NOKm) +27% 950 1 031 1 094 1 206 974 T Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 I budbee Budbee has seen significantly higher volumes in the last months, driven by both an increased number of packages and by more retailers signing up for the company's delivery solution Successfully closed a funding round of SEK 278m in the second quarter, with above pro rata participation from Kinnevik. The oceeds will be used to fuel further growth 2020 revenues has already surpassed 2019 levels and the company experienced volumes of 50% over budget in March Revenue growth Q1 2020 173% KINNEVIK

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