Norconsult Asa · OSL:NORCO
Norconsult Asa — Nordic Small & Mid Cap Seminar 2026
17 slides from Norconsult Asa's conference presentation, June 2026
Slide 1: Norconsult ASA
Centre for Psychiatric Healthcare in Nordbyhagen Norconsult ASA Nordic Small & Mid Cap Seminar 2026 | Handelsbanken Dag Fladby, CFO - June 2026
Slide 2: Norconsult – Every day we improve everyday life
Norconsult – Every day we improve everyday life A local partner, leveraging our size and reach… ...with solid financials1) Founded in 1929 ~ 7 200 Employees Q1 2026 ~ 140 Offices Revenue by customer2) Revenue by projects2) Country HQs Offices ~35K projects ~15K customers Buildings and architecture2)
Slide 3: Strengthened position in the Nordics
Strengthened position in the Nordics The largest inter- Top four of the largest Top 12 in the #1 disciplinary consultancy firm in Norway1) #4 consultancies in the Nordics 1) #12 European marketspace 2) 1) Annual reports 2025 , gross revenue 2025 converted to NOK with exchange rates DKK:1.57 SEK: 1.0
Slide 4: Professional service offerings to the building and construction market
Professional service offerings to the building and construction market Offering Project management Architecture Engineering and digital solutions Form, function, experience Structures, systems, complexity Scope, schedule, productivity Project lifecycle 1. Planning 2. Design and engineering 3.Project
Slide 5: The market leader in Norway with strong pan-Nordic growth
The market leader in Norway with strong pan-Nordic growth The leading player in Norway… …with reinforcing no. 1 position… …and a strong Nordic growth trajectory Gross revenues 2025 (NOKm) 1) Gross revenue (NOKbn) development 2,3) 7 899 Norway 6.7 7.1 7.9 6.0 5 573 2022 2023 2024 2025 Sweden 3 770 2.
Slide 6: Robust business model ensuring stable margins
Robust business model ensuring stable margins Risk diversified Time & material Attractive across ~35k assignments1) typical contract form1) economic attributes Top 50 projects Other Cost-plus model with low-risk contracts priced on accrued hours ~80% time & material of operating revenue Index-regula
Slide 7: Consistent performance - robust financial track record
Consistent performance - robust financial track record Strong growth over a decade with 10% net revenue CAGR Consistent adj. EBITA margin of ~10%1) NOKm NOKm 10 471 944 940 10 103 879 9 186 810 8 494 733 7 513 610 628 6 593 6 146 5 516 465 4 691 4 078 390 3 738 346 3 514 319 316 9% 10% 10% 10% 10% 1
Slide 8: Attracting, developing and retaining the best talent and competency
Attracting, developing and retaining the best talent and competency Winning recipe for attracting… …developing… ...and retaining talent No. group employees1) The basis of everything we do Reported employee churn 7 200 6 300 6 500 12.2% 5 500 Our Our customer 5 100 10.6% values promise 4 300 4 600 3
Slide 9: Update on Artificial Intelligence
Update on Artificial Intelligence – Digital expertise developed over decades is an enabler to sophisticated use of AI in advanced construction projects – The promise of AI benefits increase the demand for Norconsult’s digitalization expertise – Norconsult has digitalization and AI expertise in its s
Slide 10: Slide 10
Slide 11: Fellesprosjektet Arna-Stanghelle
Fellesprosjektet Arna-Stanghelle: 80 km of integrated road and rail tunnels – Norway's largest integrated road and rail tunnel project, located outside Bergen — construction from 2026, opening scheduled for 2039 – Integrates new road and railway infrastructure into a single project, including double
Slide 12: Revenue growth through balanced organic growth and acquisitions
Revenue growth through balanced organic growth and acquisitions Strong organic growth 11% 10% 10% Growth target 6% 7% 6% 2/3 Organic growth 5% 2% 1/3 M&A 2022 2023 2024 2025 Norconsult Publically listed peers1) 12 1) Multiconsult, Afry, Sweco
Slide 13: Successful M&A is a core part of Norconsult's business model
Successful M&A is a core part of Norconsult’s business model Strong M&A track record Number of acquisitions | 2014 – Q1 2026 Selected acquisitions 1 3 3 Norwegian engineering Category: Civ. Eng. 4 consultancy, strong in FTEs: 221 5 Norwegian infrastructure 11 Danish engineering Category: Civ. Eng. c
Slide 14: Continue Pan-Nordic M&A execution
Continue Pan-Nordic M&A execution Solid growth potential outside Norway Main markets M&A strategies for growth Strengthen No. 1 position in Norway Focus on bolt-on’s that complement competence and capacity. Niches Strengthen position as a customer-oriented challenger Acquire niche competency Expand
Slide 15: Q1 2026: Outlook
Hovinbyen Q1 2026: Outlook The overall market is expected to remain stable, however, with uncertainty linked to the international political situation – The private market for Buildings & Architecture is still slow, and the increased geopolitical uncertainty may temper the positive signs seen during
Slide 16: Norconsult is a leading multidisciplinary consultancy
Norconsult is a leading multidisciplinary consultancy Market leader with a strong position Leading Nordic multidisciplinary consultancy with ~100-year track record and a strong local footprint Robust business model Ambition Asset-light and diversified project portfolio with recurring public/private
Slide 17: Every day we improve everyday life
Every day we improve everyday life This document has been prepared by Norconsult ASA as part of the assignment that the document relates to. The copyright of this document is owned by Norconsult ASA. The document may only be used for the purpose described in the assignment agreement and must not be