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Kinnevik Investor Event Presentation Deck

OUR GROWTH PORTFOLIO IS YOUNG, AND BEFORE THE CURRENT MARKET TROUGH WE PROVED OUR ABILITY TO REALLOCATE CAPITAL WITHIN IT 6.8 Years 5.7 Years Q4 2017 Growth Portfolio Age Value-Weighted Average Tenure (including Zalando) Our Capital Allocation Approaching a Steady-State Flywheel Effect 3.5 Years Q3 2022 8bn 5.5x 41% SEK Released from the Growth Portfolio Average Return Realized of Total Invested Capital Realized from VillageMD, Livongo & Bread (as % of Growth Portfolio Investments 2016-22) Out of the SEK 19bn invested in our Growth Portfolio we have already realized >40% at attractive returns, and when the cycle ultimately reverses, we will return to a dynamic reallocation of capital within our Growth Portfolio 18 (5) ΚΙΝΝΕVIK

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