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 Q3 2025
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Unlocking long-term value creation
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See Statement of Proprietary information • Weapon stations, integrated vessel solutions, and Hugin AUV contracts were important drivers for order intake in the quarter • Strong order intake and book/bill above 1 in all business areas • The order backlog continues to grow and is now NOK 142.2bn Order intake NOK 16.9bn Revenues NOK 13.3bn EBIT NOK 2.0bn Highlights Q3
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See Statement of Proprietary information BUSINESS UPDATE Q3 Backlog distribution by time of delivery New build order intake YTD has increased 46% YoY Kongsberg Maritime Kongsberg DiscoveryKongsberg Defence & Aerospace 14% 59% 18% 10% Europe, excl. Norway North America NorwayAsia-Pacific Other Backlog distribution – strong demand from European Defence 29% 16% 13% 12% 10% 8% 5% Offshore LNG Seaborn Tug Naval Pax OPU 2% Offshore Wind 2% Fishery & SP 2% Other 22% 48% 30% Q3 25 2025 2026 2027 + futher 27.6 Solid order intake Defence share of order intake is increasing Amounts in NOK bn Backlog distribution by time of delivery 41% 45% 13% Q3 25 2025 2026 2027 + futher 3.5 Backlog distribution by time of delivery 6% 22% 72% Q3 25 2025 2026 2027 + futher 110.7 27% 73% Defence Commercial
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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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Revenue growth driven by Missiles and Air Defence Q3 24 Q4 24 Q1 25 Q2 25 11.92 Q3 25 13.30 +12% Amounts in NOK bn See Statement of Proprietary information Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 6.49 6.39 -1% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 4.25 5.89 +38% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 1.12 1.10 -2% Kongsberg Maritime Kongsberg Defence & Aerospace Kongsberg Discovery KONGSBERG REVENUES Gain from sale
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Continued solid margins Amounts in NOK bn 15.7% Q3 24 Q4 24 Q1 25 Q2 25 15.2% Q3 25 1.87 2.02 EBIT-margin Adjusted EBIT-margin EBIT (NOK (bn) Gain from sale 17.1% Q3 24 Q4 24 Q1 25 Q2 25 15.4% Q3 25 1.11 0.99 16.2% Q3 24 Q4 24 Q1 25 Q2 25 14.8% Q3 25 0.69 0.87 14.9% Q3 24 Q4 24 Q1 25 Q2 25 19.0% Q3 25 0.17 0.21 See Statement of Proprietary information Kongsberg Maritime Kongsberg Defence & Aerospace Kongsberg Discovery KONGSBERG EBIT and EBIT margin
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Strong cash conversion Cash 1.7 2.45 EBITDA Change in working capital (0.79) Investment in PPE & R&D 0.05 Dividends received from associates (0.48) Other Cash 30.9 14.38 15.76 0.15 +1.38 Amounts in NOK bn See Statement of Proprietary information 13.5% Q3-24 Q4-24 Q1-25 Q2-25 7.7% Q3-25 3.16 2.04 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 (5.48) (10.18) 47.1% Q3-24 Q4-24 Q1-25 Q2-25 42.3% Q3-25 2.04 2.09 Kongsberg Maritime Kongsberg Defence & Aerospace Kongsberg Discovery Net working capital per Business Area CASH FLOW DEVELOPMENT
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Improved profitability in both KSAT and Patria 566 577 556 575 562 110 73 94 121 140 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Revenues (NOKm) EBIT (NOKm) 169 348 108 226 235 3 60 -3 20 20 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Revenues (EURm) EBIT (EURm) 43 31 -12 238 -26 KOG’s share of net profit (NOKm) KOG’s share of net profit (NOKm)* 33 45 6950 76 *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 5.2bn in order backlog EUR 2.6n in order backlog
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Continue to see overall strong demand • Unique product portfolio and domain knowledge position as a frontrunner in the maritime transformation • Persistent solid activity in aftermarket and strong newbuild order backlog gives robustness • Increased technology scope and complexity on overall fleet drives demand • Continued strong demand for our product portfolio • Ongoing tendering and negotiations related to multiple programs • Capacity expansion on track to meet both planned deliveries and foreseen demand • 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 142.3bn in order backlog, whereof NOK 14.3bn is for delivery in 2025 OUTLOOK