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NORDIC SEMICONDUCTOR Quarterly presentation Q2 2026 August 6 , 2026 Copyright © 2026 Nordic Semiconductor . All rights reserved
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Copyright © 2026 Nordic Semiconductor. All rights reserved Disclaimer 2 The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any pe rson to underwrite, subscribe for or otherwise acquire securities in Nordic Semiconductor ASA (The Company). The release, publication or distribution of this presentation in certai n jurisdictions may be restricted by law, and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves abo ut, and observe, such restrictions. This presentation includes and is based, inter alia, on forward -looking information and contains statements regarding the future in connection with The Company’s growth initiatives, profit figures, outlook, strategies and objectives. All forward -looking information and statements in this presentation are base d on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for The Compan y. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects”, “believes”, “estimates” or similar expressions. Important factors may lead to actual profits, results and developments deviating substantially from what has been expressed o r implied in such statements. Although The Company believes that its expectations and the presentation are based upon reasonable assumptions, it can give no assurance that thos e expectations will be achieved or that the actual results will be as set out in the presentation. The Company is making no representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the presentation, and neither The Company nor any of its directors, officers or employees will have any liability to you or any other persons resulting from your use. This presentation was prepared in connection with the Q 2 results released on August 6th, 2026. Information contained herein will not be updated. The following slides should also be read and considered in connection with the information given orally during the presentation.
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Copyright © 2026 Nordic Semiconductor. All rights reserved ▪ Vegard Wollan, CEO ▪ Pål Elstad, CFO 3 T oday´s presenters Copyright © 2026 Nordic Semiconductor. All rights reserved
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Copyright © 2026 Nordic Semiconductor. All rights reserved 4 Q2 2026 ▪ Revenue of USD 219 million ▪ Gross margin of 53% ▪ Adjusted EBITDA USD 36 million (17%) Record revenue and improved margins Quarterly revenue development (USDm) Copyright © 2026 Nordic Semiconductor. All rights reserved
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Copyright © 2026 Nordic Semiconductor. All rights reserved 5 Revenue growth for both top-10 and broad market Copyright © 2026 Nordic Semiconductor. All rights reserved ▪ Top-10 revenue reflecting strong relationships and close collaboration with key customers ▪ Broad market gaining traction, with more customers, new products and increased design activity
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Copyright © 2026 Nordic Semiconductor. All rights reserved 6 Clear design win leader – continued traction for nRF54 31% share of certifications last 12 months, 3x the closest competitor Source: Nordic Semiconductor / Bluetooth SIG Nordic end-product certifications Q2’26 115 designs 28% share LTM 475 designs 31% share Competitors Bluetooth Low Energy end-product certifications, last 12 months
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Copyright © 2026 Nordic Semiconductor. All rights reserved 7 Four key drivers to growth On track to meet our long-term growth ambitions Continuing market growth Strengthening competitive position Expanding addressable market Increasing lifecycle value per end-product
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Copyright © 2026 Nordic Semiconductor. All rights reserved 8 One partner – from chip to cloud A leader in ultra-low-power compute and connectivity W O R L D - C L A S S H A R D W A R E E M B E D D E D S O F T W A R E C L O U D L I F E C Y C L E S E R V I C E S
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Copyright © 2026 Nordic Semiconductor. All rights reserved Growing portfolio and target markets Each generation adds compute, memory and features - Broadening usability and applicability 9
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Copyright © 2026 Nordic Semiconductor. All rights reserved 10 AI-assisted development tools across lifecycle Built on Nordic’s high-quality data and software Faster time to market Higher quality and reliability
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved ▪ Fi na nci al s Financials Pål Elstad, CFO Copyright © 2026 Nordic Semiconductor. All rights reserved
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved Revenue by technology Short-range (USDm) Quarterly Long-range (USDm) Quarterly Other (USDm) Quarterly Q2 2 2 Q 2 2 Q 2 2 Q 2 26 Q2 2 26 6 2 2 2 2 Q2 2 2 Q 2 2 Q 2 2 Q 2 26 Q2 2 26 2 2 2 Q2 2 2 Q 2 2 Q 2 2 Q 2 26 Q2 2 26 2 2 2 2 6 2 2 12
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved Q2 2 2 Q 2 2 Q 2 2 Q 2 26 Q2 2 26 62 6 2 6 onsu r ndustri l nd lthc r th r Revenue by markets rou 2 6 o o onsu r ndustri l nd lthc r th r Revenue for the individual markets excludes ASICs Q2 2 2 Q 2 2 Q 2 2 Q 2 26 Q2 2 26 2 2 2 Q2 2 2 Q 2 2 Q 2 2 Q 2 26 Q2 2 26 6 13
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Copyright © 2026 Nordic Semiconductor. All rights reserved 14 Gross margin ▪ Improved product mix, higher share of broad market customers, and increasing contribution from high-margin Cloud services ▪ Expecting gross margin above 50% also in Q3 2026 ▪ Reiterating long-term ambition to maintain gross margin >50% *Q2 2024 Adjusted gross margin – excludes inventory write -down * * *Q4 2025 Adjusted gross margin – excludes reversal of inventory write -down
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Copyright © 2026 Nordic Semiconductor. All rights reserved Growth, improving margins, and increasing leverage Operating model 15 R&D Revenue
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Copyright © 2026 Nordic Semiconductor. All rights reserved 16 Cash cost development Cash OPEX (USDm) ▪ High operating leverage – maintaining stable cost base in high growth environment ▪ Year-on-year payroll driven by acquisitions, organic headcount growth, salary increases, accrual of variable pay, and FX ▪ Year-on-year increase in other OPEX driven by higher hardware and software spend along with increased sales activity
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Copyright © 2026 Nordic Semiconductor. All rights reserved 17 Capex intensity *Q3 2025 capex values excludes assets acquired from Memfault and Neuton * Capex (USDm)▪ Purchasing additional testers to expand back-end capacity, securing future growth and supporting new product ramp ▪ Capex intensity last 12 months 3.8% of revenue
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Copyright © 2026 Nordic Semiconductor. All rights reserved Cash flow ▪ Positive cash generation from operations, with EBITDA of USD 30.9m including capitalized development costs ▪ Deliberate front-end inventory build, with higher inventory partly offset by higher accounts payable Cash position and cash flow Q2 2026 (USDm) * EBITDA Adjusted for Capitalized Developm ent Costs 18
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Copyright © 2026 Nordic Semiconductor. All rights reserved Q3 2026 guidance Revenue Gross margin USDm 220-240m >50% +23% to +34% y-o-y +1% to +10% q-o-q ▪ Customer orders and forecasts indicate continued year-on-year revenue growth in Q3 ▪ Gross margin expected above 50% 19
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved ▪ Fi na nci al s▪ På l El st ad, CFO Closing remarks Vegard Wollan, CEO Copyright © 2026 Nordic Semiconductor. All rights reserved
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved Executing to plan 21 FINANCIAL Q2 revenue USD 219m USD 220-240m Q3 revenue guidance OPERA TIONAL ▪ nRF54 Series continuing to gain momentum ▪ Long-range continuing to ramp according to plan ▪ Advancing our chip-to- cloud solutions ▪ Improving developer experience with AI Financially, operationally, and strategically ▪ Adding software and recurring value through nRF Cloud lifecycle services ▪ Strengthening the organization to support our strategic growth agenda STRA TEGIC
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© Nordic Semiconductor Q&A Copyright © 2026 Nordic Semiconductor. All rights reserved