Kinnevik Results Presentation Deck

...IN EXCHANGE, PROFITABILITY IMPROVEMENTS ARE ACCELERATED, RUNWAYS ARE EXTENDED, AND RELIANCE ON NEAR-TERM FUNDING ENVIRONMENT IS LOWER Note: Average Change in 2023 Topline Outlook Q4 '22 vs Q3 '22, Value-Weighted (15)% 100% 80% 60% 40% 20% Runway & Profitability Navigating Uncertainty Change in Cash Runway Estimates % of Unlisted Portfolio Fair Value, Q4 '22 versus Q3 '22 Q3 2022 Profitable or Funded to Break-Even 12-24 Months ■<6 Months Cash runway estimates excludes investments within Early Bets & New Themes 10% Q4 2022 >24 Months 6-12 Months I I Improvement driven by - 1. more conservative business plans: II. fundraises during 2022; III. consolidation; and IV. write-downs of less robust investees Pro rata share of investees' cash burn expected to decrease by more than 40% from 2022 e.g. Village MD, Instabee and Jobandtalent are cash flow profitable already, or in 2023 We expect to invest around SEK 2.5bn into our existing portfolio in 2023 ▪ The absolute majority of our follow-on investments will be deployed to accrete ownership in our highest-conviction businesses Around 10% of our unlisted portfolio by value will need new financing in 2023, with another 20% in 2024 6 KINNEVIK

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