Investment Kinnevik : Kinnevik: Year-end release 2015

FOURTH QUARTER 2015

Operating companies' performance

• Zalando's preliminary fourth quarter revenues grew 30-31% with an adjusted EBIT margin of 7-9%
• Millicom reported revenues of USD 1.68bn - organic service revenue up 6%
• Tele2 launched its 4G network in the Netherlands and agreed to combine its mobile business in Kazakhstan with Kazakhtelecom

Kinnevik investment activities

• The sale of Kinnevik's entire 31% stake in Avito for a total cash consideration of USD 846m closed on 15 December
• Kinnevik's Polish agricultural business Rolnyvik divested for a total cash consideration of SEK 385m

Kinnevik financial position

• Net Asset Value of SEK 83.5bn, up by SEK 1.4bn in the quarter and a strong balance sheet with a net cash position of SEK 7.6bn
• The Administrative Court of Appeal decided in favor of Kinnevik in SEK 702m tax dispute

FULL-YEAR 2015

Operating companies' performance

• Zalando's preliminary full-year revenues grew 33-34% to almost EUR 3.0bn with an adjusted EBIT margin of 3-4%
• Millicom's mobile subscriber base increased by almost 6 million to 63 million subscribers with 30% data penetration
• Tele2's mobile end-user service revenues grew 5% in constant currencies
• Global Fashion Group announced 61% GMV growth in euro terms for the first nine months of 2015

Kinnevik investment activities

• SEK 1.6bn of investments focused on existing companies, net investments of SEK 430m excluding the sale of Avito
• For 2016, Kinnevik expects its net investments to amount to SEK 2-3bn

Kinnevik financial position

• The Kinnevik Board of Directors recommends that the Annual General Meeting decides upon an ordinary dividend of SEK 7.75 per share for 2015, corresponding to an increase of 7%
• Today Kinnevik announced that its Board of Directors has resolved to execute a SEK 500m share buyback program between 15 February and 23 March