Slides
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© Nordic Semiconductor October 22, 2026 Quarterly presentation Q3 2026Copyright © 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 person to underwrite, subscribe for or otherwise acquire securities in Nordic Semiconductor ASA (The Company). The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law, and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about, 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 based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for The Company. 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 or 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 those 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 Q3 results released on October 22, 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 To d a y´spresenters Copyright © 2026 Nordic Semiconductor. All rights reserved
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Copyright © 2026 Nordic Semiconductor. All rights reserved4 Q3 2026§Revenue of USD 235 million, +32% y/y and +8% q/q§Gross margin of 53%§Adjusted EBITDA USD 40 million (17%) Record revenue and improved marginsQuarterly revenue development (USDm) Copyright © 2026 Nordic Semiconductor. All rights reserved
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Copyright © 2026 Nordic Semiconductor. All rights reserved5 Revenue growth for both top-10 and broad market Copyright © 2026 Nordic Semiconductor. All rights reserved §Top-10 reflecting continued strong relationships and collaborations with key customers §Broad market gaining traction with more customers and higher design activity with existing customers
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Copyright © 2026 Nordic Semiconductor. All rights reserved6 Clear design win leader – continued traction for nRF54 30% share of certifications last 12 months, ~3x the closest competitor Source: Nordic Semiconductor / Bluetooth SIG Nordic end-product certifications Q3’26112 designs26% share LTM463 designs30% shareCompetitors Bluetooth Low Energy end-product certifications, last 12 months
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Copyright © 2026 Nordic Semiconductor. All rights reserved 7 Broadening short-range portfolio Announced nRF54LC10A, our smallest multiprotocol SoC, for tags, trackers, and compact smart home sensors§Built for small devices and high-volume deployment§Advanced security features§Memory and peripherals aligned with space- and cost constraints§Support for nRF Cloud lifecycle services§Over-the-air updates and remote observability§Compliant with EU Cyber Resilience Act requirements Strengthening competitive position 1.9 mm 2.3 mm
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Copyright © 2026 Nordic Semiconductor. All rights reserved 8 Expanding the addressable long-range market Taking the nRF93M1 smart modem global LTE™Cat1 bis §Global connectivity for data-intensive applications - 10Mbps throughput§nRF Cloud integration for EU CRA compliant life cycle management§Working with lead customers across multiple applications Available today Audio transmissionCameraPayment terminalGateway Fleet managementHealthcare monitoringMetering
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Copyright © 2026 Nordic Semiconductor. All rights reserved LeadingEdge AI for universal use 99 Integrated solution across compute, memory, power and size
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Copyright © 2026 Nordic Semiconductor. All rights reserved StronguptakeofourAI-assisteddevelopmenttools 1010 §Rapid adoption and growing usage since launch in May §Recently introduced updated version with expanded capabilities, with more to come§Assisting developers all the way from prototyping to the deployment of devices in the field§Working with developers’ preferred AI-assistant§Uniquely interconnected across hardware, software, and cloud lifecycle services DevZone Nordic MCPnRF Connect SDK TechDocs AI-assistant
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Copyright © 2026 Nordic Semiconductor. All rights reserved11 Growing portfolio and target markets Each generation adds compute, memory and features – Broadening usability and applicability
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved § Financials FinancialsPål Elstad, CFO Copyright © 2026 Nordic Semiconductor. All rights reserved
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved Revenue by technologyShort-range (USDm)QuarterlyLong-range (USDm)Quarterly Other (USDm)Quarterly 13
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved Revenue by markets Revenue for the individual markets excludes ASICs 14
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Copyright © 2026 Nordic Semiconductor. All rights reserved 15 Gross margin §Year-on-year improvement reflects product mix, higher share of broad market customers, and increasing contribution from high-margin Cloud services§Expecting gross margin above 50% also in Q4 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 leverageOperating model 16 R&D Revenue
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Copyright © 2026 Nordic Semiconductor. All rights reserved 17 Cash cost development Cash OPEX (USDm) §Year-on-year payroll driven by 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 reserved18 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 4.2% of revenue
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Copyright © 2026 Nordic Semiconductor. All rights reserved §Positive cash generation from operations, with EBITDA of USD 33m including capitalized development costs§Deliberate front-end inventory build, with higher inventory and timing of customer payments§Other operating adjustments mainly reflects ship and debit provision, due to higher sales volumes and price adjustments. Cash position and cash flow Q3 2026 (USDm) * EBITDA Adjusted for Capitalized Development Costs Cash flow 19
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Copyright © 2026 Nordic Semiconductor. All rights reserved Q4 2026 guidance RevenueGross marginUSDm215-235m >50%+27% to +39%y-o-y -9% to 0%q-o-q §Customer orders and forecasts indicate continued year-on-year revenue growth in Q4§Gross margin expected above 50% 20
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© Nordic Semiconductor Copyright © 2026 Nordic Semiconductor. All rights reserved § Financials§ Pål Elstad, CFO Closing remarksVegard 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 22 FINANCIALQ3 revenue USD 235mUSD 215-235m Q4 revenue guidance OPERATIONAL§Gaining momentum and growing the nRF54 Series in short-range§Expanding the addressable market in long-range§Rapid adoption and high usage of our AI-assisted development tools Financially, operationally, and strategically §Continued solid relationships and strong pipeline with key customers§Leading edge AI with Nordic technologies§Increasing lifecycle value per design STRATEGIC
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© Nordic Semiconductor Q&A Copyright © 2026 Nordic Semiconductor. All rights reserved