Cambi Asa · OSL:CAMBI
Cambi Asa — 32nd Pareto Securities Energy Conference 2025
22 slides from Cambi Asa's conference presentation, Sep 10, 2025
Slide 1: Cambi ASA – 32nd Pareto Securities Energy Conference
Cambi ASA 32nd Pareto Security Energy Conference Dragoș Tâlvescu, Senior IR Manager 10 September 2025
Slide 2: Disclaimer
CAMBI Disclaimer This presentation is for information purposes only. Cambi ASA (Cambi) gives no representation or warranty, expressed or implied, as to the accuracy or completeness of any information included herein. No information, including projections, estimates, targets and opinions, contained i
Slide 3: Cambi is uniquely positioned for long-term, world-scale value creation
Cambi is uniquely positioned for long-term, world-scale value creation Global leader in wastewater sludge treatment solutions with solid track record Robust financial performance Proven thermal hydrolysis technology enabling shareholder dividends with unique value proposition Scalable platform posit
Slide 4: By 2050, world population will increase by +1.3 billion
By 2050, world population will increase by +1.3 billion and the increase in urban dwellers will be even higher Source: UN World Population Prospects 2024 4
Slide 5: Sanitation remains a key concern for health and quality of life
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 6: Wastewater treatment is a unique circular opportunity
Wastewater treatment is a unique circular opportunity Treated wastewater can: Provide alternative Supply more than 10 times Offset over 10% energy to half a the current global of global fertiliser use billion people desalination capacity Source: “Wastewater - Turning Problem to Solution”, United Nat
Slide 7: Enabling a more sustainable water sector through the thermal hydrolysis process
Enabling a more sustainable water sector through the thermal hydrolysis process Cambi’s thermal hydrolysis process (THP) transforms wastewater sludge and other large organic waste streams into valuable bioresources Image: Cambi THP plant in operation for Hampton Road Sanitation District (HRSD) at th
Slide 8: Slide 8
Slide 9: Highly attractive value proposition
Highly attractive value proposition Advantages of Cambi THP Economic impact Environmental impact Biosolids reduction up to 50% High biosolids quality Robust to regulatory changes Biogas yield increase up to 50% Digestion efficiency 3x increase Low carbon footprint 32nd Pareto Securities Energy Confe
Slide 10: Thermal hydrolysis is suitable for all biosolids disposal routes
Thermal hydrolysis is suitable for all biosolids disposal routes Biosolids disposal routes Incineration Thermal treatment Drying Wastewater Biosolids solids Thermal hydrolysis Other thermal Agriculture 32nd Pareto Securities Energy Conference | 10
Slide 11: 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 12: Flexible scope and delivery model
Flexible scope and delivery model Main contractor scope for Core scope for Cambi Cambi (incl. core scope) Plant owner Able to deliver projects both as subcontractor (equipment supply) or as main contractor (full scope responsibility) Main contractor Factors deciding scope Civil Electrical Cambi Auxi
Slide 13: Global presence. Solid track record of delivered projects.
Global presence. Solid track record of delivered projects. 92 THP reference sites 28 countries 32nd Pareto Securities Energy Conference | 13
Slide 14: >30 years of experience. In service for up to ~120 million people
>30 years of experience. In service for up to ~120 million people Evolution of Cambi’s installed THP capacity (million people) 2025: Acquisition 2017: Acquisition 125 2021: IPO 100 2011: Washington, DC 2014: Beijing contracts 75 Axis Title 2000: First large-scale contract (Dublin) 50 2
Slide 15: Achieved market penetration in selected markets shows significant potential
The achieved market penetration in selected markets shows the significant potential for our technology globally Share of population served by Cambi: Share of population served by Cambi: United Kingdom Norway 50 % 40 % People: 67.7 million People: 5.4 million Cambi references: 26 Cambi references: 9
Slide 16: Sludge management investments continue to grow
Sludge management investments continue to grow Capex forecast Forecast USD billion 20 +33% 15 10 5 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Data source: GWI WaterData 32nd Pareto Securities Energy Conference | 16
Slide 17: Large addressable market
Large addressable market of more than 3,000 plants Addressable market >3,000 Sales pipeline Reference sites ca. 475 92
Slide 18: Cambi acquires a majority stake in CNP CYCLES
Cambi acquires a majority stake in CNP CYCLES German-based company with solid track record • CNP CYCLES GmbH was founded in 2011 and specialises in technologies and solutions that optimise sewage sludge treatment for wastewater treatment plants • Successful project deliveries for water utility compa
Slide 19: Two business segments
Two business segments Revenue development per segment NOK million Technology 1,033 Technology 977 Sales, R&D, Solutions manufacturing and delivery of world-class sludge treatment technology 740 733 458 440 Solutions 351 367 281 268 269 Value-adding services 206 105 191 beyond delivery of 293 world-c
Slide 20: Tailwind from several macro trends drives demand for Cambi's THP
Tailwind from several macro trends drives demand for Cambi’s THP Urbanisation Regulations Circular economy Infrastructure investments 20 32nd Pareto Securities Energy Conference | 20 20
Slide 21: 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 22: Thank you!
Thank you!
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