Kinnevik Results Presentation Deck

Intro SEKM NET ASSET VALUE LEGACY ASSETS, FINANCIAL POSITION & TOTALITY Tele2 Zalando Total Portfolio Value Gross Cash Gross Debt Net Cash / (Debt) Other Net Assets/(Liabilities) Total Net Asset Value Net Asset Value Per Share, SEK Closing Price, Class B Share, SEK Growth Portfolio 18.6 Net Invested Cash Net Asset Value KINNEVIK SEKbn 36.9 Fair Value 2022 Q1 Vintage Interim Report Q1 2022 1993 2010 Portfolio Overview Tele2 42% Ownership Note: Other Net Assets/ (Liabilities) include the reservation from Q4 2020 regarding a potential capital gains tax liability of SEK 0.8bn relating to the merger between Teladoc and Livongo, based on the rules for accounting for uncertain tax positions in IFRIC 23. Value Q1 2022 9% Listed Growth 26 735 63 595 8 595 -3 618 4 977 -713 67 859 243.50 247.05 Sustainability Composition of Portfolio Value Per quarter-end Unlisted Growth 2016-21 Investments 49% 55% ) 5 Tele2 42% Financial Statements 3% Pre 2016 Investments Other Value Q4 2021 24 240 67 541 10 549 -5 165 5 384 -534 72 391 259.86 323.95 ASSESSMENTS OF FAIR VALUE OF UNLISTED INVESTMENTS Value Q1 2021 22 0 46 310 114 490 6 902 -3 007 3 895 -633 117 752 423.91 425.15 In assessing the fair value of our unlisted investments, we apply IFRS 13 and the International Private Equity and Ven- ture Capital Valuation Guidelines, whereunder we make an assessment to establish the valuation methods and points of reference that are most suitable and relevant in deter- mining the fair value of each of our unlisted investments. Read more in Note 4 on pages 29-32. MORE → 9

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