Kinnevik Results Presentation Deck

INVESTMENTS OF SEK 2.1 BN AND A SEK 0.5BN VALUE REASSESSMENT INCREASES THE VALUE OF OUR UNLISTED PORTFOLIO TO SEK 32.5BN I ■ ■ Q2 2023 Valuations Underlying valuation reassessment of our unlisted assets of (2)% translates into a fair value write-up of SEK 0.5bn or +1% 2023 growth outlook unchanged when factoring in portfolio rebalancing during Q2, but Village MD and Oda reforecasts bear a material negative impact in the quarter Multiple contraction of (3) % in our unlisted portfolio, while the weighted average peer NTM multiple was unchanged Average premium to public benchmarks have come down by around 20 percentage points in 2023 to date, while the private portfolio continues to outgrow these benchmarks by >3x Aggregate impact from liquidation preferences amounts to SEK 2.8bn at the end of Q2 - down 150m from the previous quarter Swedish krona depreciated against all key currencies, bearing a SEK 1.3bn positive currency effect Drivers & Parameters 29.9 Q1 2023 ■Value-Based Care Change in Outlook (NTM R) Value Drivers Unlisted Assets, Illustrative, Q1 to Q2 2023 (SEKbn) Virtual Care Change in Multiples (NTM R) Cash Burn & Dilution Platforms & Marketplaces Liquidation Preferences & Currencies Software Net Investments Consumer Finance Overall, Q2 was another stabilizing quarter with a small write-up mainly driven by positive currency effects 32.5 Q2 2023 Early Bets & New Themes KINNEVIK

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