Investment AB Kinnevik Interim report 1 January - 30 June 2012

·  The net asset value decreased by 11.3% and amounted to SEK 57,749m at the end of June, compared to SEK 65,130m at the end of March.

· On 20 June, Kinnevik signed an agreement with Billerud regarding a merger between Korsnäs and Billerud, see further page 2. Korsnäs is from this interim report accounted for as "discontinued operations" in Kinnevik's accounts.

·  The Group's total revenue amounted to SEK 549m (79).

·   Net loss after tax, including changes in fair value of financial assets, amounted to SEK 6,259m (profit of 2,354) corresponding to a loss of SEK 22.58 (profit of 8.49) per share.

·   Investments in shares and other securities amounted to SEK 1,370m (224) in the second quarter, of which SEK 1,242m within Online and Microfinancing.

Financial results for the first half year

·   The net asset value decreased by 6.7% from SEK 61,839m at the end of 2011.

·   The Group's total revenue amounted to SEK 651m (148).

·   Net loss after tax, including changes in fair value of financial assets, amounted to SEK 3,475m (profit of 2,204) corresponding to a loss of SEK 12.54 (profit of 7.95) per share.