Kinnevik Results Presentation Deck

Intro FINANCIAL REVIEW Investee (SEKm) Agreena Budbee Common Joint Academy Lunar Mathem Omio Omnipresent Quit Genius SafetyWing Town Hall Ventures III Transcarent TravelPerk Other Investments Teladoc Tele2 Other Divestments Net Investments / (Divestments) Net Asset Value KINNEVIK Interim Report. Q2 2022 Q2 115 155 31] 12 36 126 475 -6 027 -6 027 - 5 552 H1 2022 127 115 68 57 211 155 32 377 12 177 93 546 36 127 2 132 -986 -6 027 -29 -7 042 -4910 Portfolio Overview Sustainability Capital Allocation Framework Over 2019-23, Kinnevik is aiming to systematically invest its capital under a capital allocation framework which entails: • Investing one-third of our capital into first round investments, and two-thirds of our capital into follow- on investments in the high-performing companies of our growth portfolio, on average per year. • Adding one or two international, later-stage compa- nies, and one or two Nordic earlier-stage companies on average per year. Distributing our capital evenly across our focus sectors. • Aiming to accrete 15-25 percent ownership stakes. • Targeting a portfolio of 30 companies, with a more even distribution of value across investments and sectors, as well as levels of risk and stages of maturity. ● Financial Statements Other During the second quarter, reflective of the current funding en- vironment, we invested a more modest SEK 0.5bn. Among the largest investments were a follow-on investment of SEK 115m in Budbee as part of a SEK 400m funding round that valued the company at SEK 7.3bn. We also participated with SEK 155m in Mathem's SEK 500m funding round valuing the company at SEK 2.3bn, in line with our first quarter 2022 valuation. In May, we divested around a quarter of our shares in Tele2 for a total consideration of SEK 6.0bn which, together with dividends received from Tele2, takes our net cash balance at the end of the second quarter to SEK 13.6bn. The additional financial strength secured at a time of market uncertainty ensures that we have a net cash runway through 2024 at our current pace of investment. In the first six months of 2022, we have deployed SEK 2.1bn in total, with a 37/63 percent split between existing and new companies. For the full year, we still expect to invest around SEK 5bn, and that this capital is split fairly even between follow-on investments and new investments, and we remain ready and able to deploy even more capital should attractive opportunities arise during the second half of 2022. 20

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