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2014-05-28

Kinnevik: Kinnevik transfers shares in Bigfoot I and Bigfoot II into direct ownership

Investment AB Kinnevik (publ) ("Kinnevik") today announced that it has agreed
with Rocket Internet and its shareholders to distribute selected assets out
of Rocket Internet. Following the transfer, Kinnevik now directly controls
32% of Bigfoot I and 34% of Bigfoot II.

The Rocket Internet distribution to shareholders, which includes shares and
cash, will be delivered to Kinnevik solely in the form of an additional 5.5%
of the shares in Bigfoot I and 4.6% of the shares in Bigfoot II. Bigfoot I is
the holding company for Dafiti (Latin America), Lamoda (Russia), Jabong
(India) and Namshi (Middle East). Bigfoot II is the holding company for
Zalora (South East Asia), The Iconic (Australia), Zando (Africa) and Jumia
(Africa).

Kinnevik and Rocket will remain the largest shareholders in Bigfoot I and
Bigfoot II and continue to jointly drive the strategic development of the
operating companies.

Rocket Internet and its three shareholders, European Founders Fund, Kinnevik
and Access Industries, have agreed the transaction based on the valuation
implied by the latest external funding round for each of the underlying
operating companies. Considering the size of the transaction, which has been
made on an arm's length basis, Kinnevik will account for its shareholding in
Bigfoot I and Bigfoot II (direct as well as remaining indirect shareholding
via Rocket Internet) at the valuation implied by the transaction.

If these values had been applied as per 31 March 2014, Kinnevik's total net
book value of the shares held in Rocket Internet, Bigfoot I and Bigfoot II
would have been SEK 4.3 billion higher than reported in the interim
management statement, equivalent to an increase in net asset value of SEK
15.5 per share.

As reported in the interim management statement as per 31 March 2014, the
difference between the book value and the value applied in the latest
financing rounds in the unlisted portfolio amounted to approximately SEK 6
billion as per 31 March. Had the values implied by today's transaction been
applied in the financial statements as per 31 March 2014, this difference
would have been lowered to approximately SEK 2 billion.

"The emerging markets fashion e-commerce companies are demonstrating excellent
growth momentum and by transferring a portion of the indirectly held shares
into direct ownership we further strengthen our ability to work actively with
their management teams and Rocket Internet to execute on their growth
strategies" said Lorenzo Grabau, CEO of Kinnevik.

The information is of such character, which Kinnevik shall disclose in
accordance with the law on Trading with Financial Instruments (1991:980)
and/or the Securities Market Act (2007:528). The information was distributed
for disclosure at 13.00 a.m. on 28 May 2014.

For further information, visit
www.kinnevik.seor contact:

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|Lorenzo Grabau, CEO +46 (0)8 562 000 00 |
|Torun Litzén, Director Investor Relations +46 (0)8 562 000 83 |
| +46 (0)70 762 00 83 |
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Investment AB Kinnevik is a leading, long-term oriented, investment company
based in Sweden. Kinnevik primarily invests in consumer centric businesses
that provide innovative and value-added technology-enabled services. Our main
areas of focus are the Communications, e-Commerce, Entertainment and
Financial Services sectors. We own significant stakes in over 50 companies
that operate in more than 80 countries across five continents, with a
particular emphasis on growth markets. The Kinnevik Group employs more than
90 000 people around the world.

Kinnevik actively supports the companies in which it invests and plays an
influential role on their respective Boards. Kinnevik was founded in 1936 by
three Swedish families who continue to play a leadership role in the
ownership of the Company and in the pursuit of its entrepreneurial ventures.

Kinnevik's shares are listed on Nasdaq OMX Stockholm's list for large cap
companies under the ticker codes KINV A and KINV B.

Press release
http://hugin.info/1114/R/1789149/614916.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire

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