Cambi Asa · OSL:CAMBI
Cambi Asa — Pareto Securities morgenmøte 2026
17 slides from Cambi Asa's conference presentation, Mar 12, 2026
Slide 1: Cambi ASA – Pareto Securities morgenmøte
Cambi ASA Pareto Securities morgenmøte Per Lillebø, CEO 12 March 2026
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only. Cambi ASA (Cambi) gives no representation or warranty, express or implied, as to the accuracy or completeness of any information included herein. No information in this document, including projections, estimates, targets and opinions, is
Slide 3: Sanitation remains a key concern for health and quality of life in many countries
Sanitation remains a key concern for health and quality of life in many countries >40% of wastewater is not treated Source: UN Water Progress on Wastewater Treatment – 2024 Update (SDG 6, target 6.3, indicator 6.3.1)
Slide 4: The Secret Science of Sewage – BBC Documentary available on YouTube
City Wastewater Renewable electricity treatment plant or natural gas Biogas Thermal Clean hydrolysis water Biosolids Digester Thermal Reuse on land processes as soil products The Secret Science of Sewage – BBC Documentary available on YouTube Pareto Securities morgenmøte 2026 | 4
Slide 5: Cambi THP significantly reduces the volume of biosolids
Cambi THP significantly reduces the volume of biosolids. The high-quality product is safe for further handling Biosolids with Biosolids with conventional treatment thermal hydrolysis treatment ✗ Limited sterilisation Up to 50% reduced volume ✗ Smelly Guaranteed pathogen kill ✗ Difficult to dewat
Slide 6: Standardised, modular, scalable THP systems
Standardised, modular, scalable THP systems B2 B4/B6 B12 Small projects Medium to large projects Largest projects 50-250,000 people 250,000 – 1 million people > 1 million people Delivered in one transport Delivered in modules with eight truck Components assembled on site transports in modul
Slide 7: A trusted partner for leading water utilities worldwide
A trusted partner for leading water utilities worldwide San Francisco, USA Brussels, Belgium Oslo, Norway Beijing, China Washington DC, USA Dublin, Ireland Wellington, New London, UK Zealand Kansas City, USA Athens, Greece Birmingham, UK Hong Kong, China Dallas, USA Panama City, Panama Edinburgh, UK
Slide 8: Global presence. Solid track record of delivered projects.
Global presence. Solid track record of delivered projects. 94 THP reference sites 28 countries Pareto Securities morgenmøte 2026 | 8
Slide 9: AMP8 – potential for several new contracts in the UK in the years to 2030
AMP8 – potential for several new contracts in the UK in the years to 2030 Ellesmere Port Blackburn Oxford New treatment hub for United New treatment hub for United 1-3 years leasing agreement with Utilities in Cheshire Utilities in Lancashire Thames Water to supplement treatment capacity until perma
Slide 10: Two business segments
Two business segments Revenue development per segment NOK million 1,068 Technology 1,033 Technology 977 Sales, R&D, Cambi Services manufacturing and delivery Grønn Vekst of wastewater treatment solids line technology 740 777 733 458 440 Solutions 268 269 Value-adding services of the 125 151 126 inst
Slide 11: “Lumpy” order intake. Solid order backlog
“Lumpy” order intake. Solid order backlog Technology Solutions in NOK million Order intake Order backlog Backlog remains high and more diversified than in previous years • Larger share outside core THP construction contracts 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Pareto Securities morgenm
Slide 12: Revenue and operating profit per quarter (2021-2025)
Revenue and operating profit per quarter (2021-2025) NOK million 342 • Operating profit has Revenue increased alongside Operating profit/EBIT 294 306 revenue growth 277 257 • Most investments in 245 238 235 234 increasing the size of the 225 210 216 organisation are for now behind us 157 • Positive
Slide 13: Cost base has increased a lot from 2021-2022 levels, but we expect a stabilisation
Cost base has increased a lot from 2021-2022 levels, but we expect a stabilisation around current levels Cost base per quarter (2021-2025) NOK million • Materials, goods, and 271 services are variable Materials, goods, and services costs and related to cost Operating expenses 242 of products we sell
Slide 14: NOK 400 million in paid dividends since listing in 2021
NOK 400 million in paid dividends since listing in 2021 Dividends paid for each financial year NOK million Ordinary dividend • Board plans to propose to the AGM 500 Extraordinary dividend a two-step dividend payout 450 NOK 0.30 per share in May Proposed dividend 400 Second payment in the autumn
Slide 15: Increasing number of THP project opportunities in the pipeline
Increasing number of THP project opportunities in the pipeline CAGR 14% Since 2023, Cambi has invested in growing its sales pipeline in selected markets – India, France, Germany, Saudi Arabia ⁓400 early-stage projects • Assessing and firming THP business case together with clients ⁓100 developed-sta
Slide 16: Cambi can grow beyond core technology
Cambi can grow beyond core technology Core Cambi THP equipment Pareto Securities morgenmøte 2026 | 16
Slide 17: Thank you!
Thank you!