The Chair of the Board James Anderson will not stand for re-election in 2025, and the Nomination Committee proposes two new directors to the Kinnevik Board

James Anderson joined as Chair of the Kinnevik Board in 2021. The Nomination Committee has initiated the search for a replacement for James in time for the 2025 Annual General Meeting.

The Chair of the Nomination Committee, Lawrence Burns, commented: "On behalf of the Nomination Committee, I would like to extend our sincere gratitude to James Anderson for his leadership of the Board of Kinnevik over the last four years. The recent period has been challenging for the company but it is important to recognise that it is in such periods when leadership is its most valuable and in investment when the seeds for future growth are so often planted. The Nomination Committee looks forward to presenting its proposal for a new Chair to further build upon the progress of renewal that is well underway."

James Anderson commented: "With considerable reluctance I have informed the Nomination Committee that I will not be standing for re-election as Chair of the company. The last four years have been demanding. I now feel much more confident that our investment processes are significantly improved and that the current portfolio is of real promise. I will continue to be a shareholder and wholeheartedly wish the company brighter days ahead."

The Nomination Committee proposes that an Extraordinary General Meeting to be held on 10 December 2024 resolves to elect Hans Ploos van Amstel and Jan Berntsson as new members of the Kinnevik Board for the period until the end of the next Annual General Meeting.

Hans Ploos van Amstel is an experienced former Chief Financial Officer who has operated internationally at senior levels in both listed, private and family-owned companies. Hans started his career at Proctor & Gamble in 1989 holding various roles and rising to become the regional Chief Financial Officer for Fabric and Home Care in Europe. In 2003 he joined Levi Strauss as its Vice President of Finance and Operation in Europe eventually moving to San Francisco to become the Group's Chief Financial Officer. In 2009 he became Chief Financial Officer of the family holding company COFRA Group and then became the Chief Financial Officer for the Adecco Group in 2015. In 2020 he joined the Swiss private equity firm Partners Group as its Chief Financial Officer until 2023. Hans is currently a member of the Board of Recover Textile Systems, a growing Spanish circular fashion company focused on sustainability within the fashion industry.

Jan Berntsson is an experienced former auditor who began his career at Swedbank before joining the accountancy firm Arthur Anderson in 1989 where he spent a year working in Silicon Valley. Jan became a Partner at Arthur Anderson in 1999 and joined Deloitte when it merged with the company in 2002. During 2008-2023 he was CEO of Deloitte Sweden whilst holding several senior roles such as being a member of Deloitte's Nordic Executive Group, a member of Deloitte's North & South Europe Board and a member of Deloitte's Global Board. During his time at Deloitte Jan served as lead audit partner for some of the largest companies in Sweden such as Atlas Copco, Boliden, Electrolux, ICA Group, Tele2 and from the 2013 Annual General Meeting to 2020, Kinnevik. Jan was also a member of the Swedish Corporate Reporting Board where he provided feedback on the new and revised International Financial Reporting Standards and the new European Sustainability Reporting Standards, among other responsibilities. He is currently a member of the Board of Firefly AB and Mitt Liv AB, and a member of Nasdaq Stockholm's Listing Committee.

The Chair of the Nomination Committee, Lawrence Burns, commented: "The Nomination Committee has today announced the nomination of two highly respected additions to the Board, and is pleased to be able to increase the size of the Board, and propose the elections of Hans Ploos van Amstel and Jan Berntsson, both bring deep financial expertise to the Board. Hans Ploos van Amstel through his background as a business operator through his various roles as Chief Financial Officer of both public and private companies. Jan Berntsson through his perspective as a highly experienced auditor having worked with many of Sweden's leading companies."

The Nomination Committee's complete proposals and motivated opinion to the Extraordinary General Meeting are presented in the convening notice which will be disclosed through a separate press release. The Nomination Committee comprises Lawrence Burns (Chair), Erik Brändström, Marie Klingspor, Cristina Stenbeck and the Chair of the Board James Anderson.