Kinnevik

Share Issue/Capital Change • Nov 29, 2019

PRESS RELEASE 29 November 2019

TEMPORARY INCREASED NUMBER OF SHARES AND VOTES IN KINNEVIK

Kinnevik AB (publ) ("Kinnevik") today announced that as of 29 November 2019 the total number of shares in the company amounts to 553,847,268, and the total number of votes in the company amounts to 1,161,445,044.

On 7 November 2019 the Extraordinary General Meeting of Kinnevik resolved on the distribution of Kinnevik's holding in Millicom International Cellular S.A. to its shareholders through a share redemption plan. The share redemption plan involves a share split (2:1) whereby each existing share in the company has been split into two new shares. The share split has resulted in that the number of shares in Kinnevik has increased by 276,923,634 shares during November 2019. The 276,923,634 new shares are redemption shares which will be redeemed as part of the share redemption plan. Thereafter the number of shares in Kinnevik will amount to 276,923,634, the same number of shares as prior to the share split. For further information regarding the share redemption plan please refer to Kinnevik's website www.kinnevik.com under the heading "General Meetings" (which can be found under the section "Governance").

As of 29 November 2019, the shares in Kinnevik are distributed among two classes of ordinary shares and eight classes of incentive shares as follows:

• 67,510,864 ordinary shares of class A with ten votes each and 483,822,412 ordinary shares of class B with one vote each (of which Kinnevik holds 595,540 ordinary class B shares in treasury, which therefore cannot be represented at shareholders' meetings), and
• 87,468 incentive shares of class D 2018, 207,444 incentive shares of class E 2018, 207,444 incentive shares of class F 2018, 616,516 incentive shares of class G 2018, 82,950 incentive shares of class D 2019, 233,250 incentive shares of class E 2019, 233,250 incentive shares of class F 2019, and 845,670 incentive shares of class G 2019, with one vote each.

This information is of such character, which Kinnevik AB (publ) shall disclose in accordance with the Financial Instruments Trading Act (Sw. lagen (1991:980) om handel med finansiella instrument). The information was distributed for disclosure, through the agency of the contact person set out below, at 08.00 CET on 29 November 2019.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations Phone +46 (0)70 762 00 50 Email press@kinnevik.com

KINNEVIK AB (PUBL)

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build digital businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, develop and invest in fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.