Kinnevik Results Presentation Deck

Intro Change Q/Q • Value-Based Care • Virtual Care • Platforms & Marketplaces • Software • Consumer Finance • Early Bets & New Themes Total Unlisted Portfolio 28.8 Q4 2022 KINNEVIK +1.2 Net Asset Value Revenue Outlook (NTM) Fair Value Value Drivers in the Unlisted Portfolio Q4 2022-Q1 2023, Illustrative Approximations, SEKbn Interim Report Q1 2023 +10% +13% (10)% (0)% (10)% +4% +1% +0.1 Multiples (NTM EV/R) Portfolio Overview (0.2) Equity Value Liquidation Preferences & Currencies +11% +25% (12)% (1)% (6)% +6% +2% (0.7) Cash Burn & Dilution Sustainability Investee Average EV/NTM R +5% +9% +1% (7)% +6% +1% +0.8 Net Investments Peer Average EV/NTM R 29.9 Q1 2023 +35% +11% +3% +12% +4% +16% Financial Statements 3% 2% +3% 1% +1% Valuation Reassessments to NAV Impact % Q/Q Change Average Write-Up Other Weighted by Value Underlying Value Change (Q/Q, Simple Average) Fair Value Change (Q/Q) After Dilution & Investments After Preferences Fair Value After FX 28

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