Slides
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KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this leg end. © 2025 KONGSBERG – All rights reserved . Geir Håøy, President & CEO Mette Toft Bjørgen, EVP & Group CFO Investor presentation Q2 2025
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NATO SUMMIT OCEAN SPACE
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Strong market position See Statement of Proprietary information BUSINESS UPDATE Q2 ForecastForecast 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Vessel contracting is forecasted to see a relatively steep decline between ’24-’25… … however, the market size for KM’s typical scope remains firm Vessel contracting in # of vessels 1) Market size in BNOK, by contract year 2) Kongsberg Maritime Kongsberg Discovery Kongsberg Defence & Aerospace 2) Based on a rough estimate of the value of KM’s current scope per vessel type and size1) Estimates from Clarksons Oslofjord CMI Protection Test Bed
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See Statement of Proprietary information BUSINESS UPDATE Q2 HUGIN Superior Backlog distribution by time of delivery New build order intake increased 40% YoY in H1 2025 Kongsberg Maritime Kongsberg Discovery Kongsberg Defence & Aerospace ..by geography 71% 18% 11% Europe North America Asia-Pacific Other 109.2 51% 31% 18% Missiles Air Defence Other 109.2 ..by product Backlog distribution – strong exposure against European Defence 28% 17% 15% 11% 11% 6% Offshore LNG Seaborn Naval Tug Pax 4% OPU 3% Offshore Wind 3% Fishery & SP 2% Other 36% 41% 23% Q2 25 2025 2026 2027 + futher 26.2 Solid order intake Order intake H1 10% 90% H1 24 25% 75% H1 25 Naval Commercial 2.0 2.4 Amounts in NOK bn
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KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this leg end. © 2025 KONGSBERG – All rights reserved . Mette Toft Bjørgen, EVP & Group CFO Financial status
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Demonstrate profitable growth See Statement of Proprietary information 2025 – YEAR TO DATE Active portfolio management Order intakeRevenuesEBIT Amounts in NOK bn H1 24 27.31 H1 25 23.04 28.52 +19% H1 24 3.60 1.21 H1 25 2.91 4.81 +24% H1 24 H1 25 30.02 38.92 +30% Gain from sale
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Growth driven by Kongsberg Defence & Aerospace Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 11.59 13.90 +20% Amounts in NOK bn See Statement of Proprietary information Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 5.98 6.39 +7% Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 4.42 6.12 +38% Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 1.01 1.23 +21% Kongsberg Maritime Kongsberg Defence & Aerospace Kongsberg Discovery KONGSBERG REVENUES Gain from sale
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Solid execution and favourable project mix Amounts in NOK bn 12.5% Q2 24 Q3 24 Q4 24 Q1 25 12.8% Q2 25 1.45 1.92 1.76 EBIT-margin Adjusted EBIT-margin EBIT (NOK (bn) Gain from sale 12.2% Q2 24 Q3 24 Q4 24 Q1 25 11.2% Q2 25 0.73 0.72 15.9% Q2 24 Q3 24 Q4 24 Q1 25 14.3% Q2 25 0.70 0.87 14.2% Q2 24 Q3 24 Q4 24 Q1 25 18.8% Q2 25 0.14 0.23 See Statement of Proprietary information Kongsberg Maritime Kongsberg Defence & Aerospace Kongsberg Discovery KONGSBERG EBIT and EBIT margin * w/o gain from sale *
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Dividend and fluctuation in NWC Cash 1.4 2.33 EBITDA (1.93) Change in working capital Cash 30.6 (0.32) Dividend paid (1.76) Dividends received from associates 0.20 Investment in PPE & R&D (0.60)16.46 14.38 Other -2.07 Amounts in NOK bn See Statement of Proprietary information 14.4% Q2-24 Q3-24 Q4-24 Q1-25 9.1% Q2-25 3.17 2.42 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 (5.61) (10.15) 47.5% Q2-24 Q3-24 Q4-24 Q1-25 40.4% Q2-25 1.96 2.00 Kongsberg Maritime Kongsberg Defence & Aerospace Kongsberg Discovery Net working capital per Business Area CASH FLOW DEVELOPMENT
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Improved margins in associated companies 561 566 577 556 575 103 110 73 94 121 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Revenues (NOKm) EBIT (NOKm) 206 169 348 108 226 18 3 60 -3 20 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Revenues (EURm) EBIT (EURm) 38 43 59 -12 238 KOG’s share of net profit (NOKm) KOG’s share of net profit (NOKm)* 31 33 -2645 69 *Share of net income from Patria is recognized as follows during the quarters: Q1: Jan -Feb, Q2: Mar-May, Q3: Jun-Aug and Q4: Sep-Des. Quarterly split of revenues and EBIT are presented with the corresponding periodization. See Statement of Proprietary information ASSOCIATED COMPANIES Kongsberg Satellite Services Patria NOK 5.3bn in order backlog EUR 2.5n in order backlog
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Continue to see overall strong demand • A product portfolio and positioning enabling a frontrunner position in the maritime transformation • Persistent high activity in aftermarket • Increased technology content on overall fleet drives demand • Continued marketing, tendering and negotiations related to multiple programs • International capacity expansion to meet demand • Particularly strong demand for missiles and air defence • Significant demand from areas such as fishery, marine research operations, energy, naval and surveillance • Solid backlog and strong positions in growing markets Kongsberg Discovery Kongsberg Defence & Aerospace Kongsberg Maritime See Statement of Proprietary information Solid balance sheet and NOK 138.8bn in order backlog, whereof NOK 22.2bn is for delivery in 2025 OUTLOOK