Kinnevik Results Presentation Deck

AN UNDERLYING VALUE REASSESSMENT OF (30)% IS CUSHIONED BY A HANDFUL OF TRANSACTIONS, AND POSITIVE EFFECTS FROM PREFERENCES AND CURRENCIES ■ ■ In or shortly after the second quarter, there were transactions in a handful of investees that priced these companies in the current valuation environment, primarily - Budbee, raising SEK 400m at a SEK 7.3bn post-money valuation in late May, a >40% uplift to our Q1 2022 valuation Omio, raising USD 80m at a valuation causing a >70% uplift to our Q1 2022 valuation Excluding the valuations supported by transactions during the second quarter, we have written down the underlying value of our unlisted portfolio by more than 30% on average in Q2 2022 by contracting our valuation multiples on fairly equal footing with the peer group averages Including these valuations, the average write-down is around 20% Liquidation preferences and currency tailwind provide a significant cushion to this substantial write-down, bringing it to the 7% SEK fair value write-down posted in today's NAV statement Q2 2022 Valuations of Unlisted Assets Put in Perspective Average Write-Down >(30)% Quarterly Write-Down Bridge From Underlying Assessments to NAV Impact, % Decline After Q2 Transactions (20)% After Preferences (12)% The valuation reassessments that are not triggered by transactions taking place in the quarter are generally in line with the share price decreases observed in their respective publicly listed peer groups 7 After Currencies (7)% KINNEVIK

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