Kinnevik Results Presentation Deck slide image

Kinnevik Results Presentation Deck

REVENUE GROWTH IS MORE THAN OFFSET BY CONTRACTING MULTIPLES IN Q1 Note: 32.6 Q4 2021 +5.3 Q1 2022 Value Drivers From 2021 Q4 (Approximations), SEKbn Effect of revenue growth on the basis of Q4 2021 LTM revenue multiples Revenue Growth (8.5) Effect of multiple contraction on the basis of Q1 2022 LTM revenues Multiple Contraction +1.6 Net Investments (0.0) Net effect of factors such as liquidation preferences and currencies (both positive), cash burn (negative), and the change in fair value of unlisted emerging markets investments (negative) Other 31.0 Illustratively based on LTM revenues and multiples, which does not correspond to the valuation method applied in valuing each of Kinnevik's investments Q1 2022 Multiple contraction has a >25% negative effect on our fair values in Q1 2022, as peer multiples have contracted across all peer groups (albeit at varying magnitudes) 11 KINNEVIK
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