Kongsberg Maritime Asa · OSL:KMAR
Kongsberg Maritime Asa — Investor Day (2026)
42 slides from Kongsberg Maritime Asa's investor day presentation, 2026
Slide 1: Capital Markets Day 2026
Capital Markets Day 2026
Slide 2: Disclaimer
Disclaimer This presentation contains certain “forward-looking information and statements” within the meaning of applicable laws and regulations. These statements include, but are not limited to, statements regarding the Company’s expectations, plans, strategies, business outlook, market opportuniti
Slide 3: The maritime market in a global context
The maritime market in a global context Lisa Edvardsen Haugan, President & CEO 3
Slide 4: Agenda
01 The maritime market in a global context CEO Lisa Edvardsen Haugan • Our markets in a global context • Strategic direction and ambitions 02 Financial ambitions CFO Mette Toft Bjørgen • Financial track record and ambitions • Capital allocation Agenda 03 Resilience and market exposure CEO Lisa Edvar
Slide 5: Long term global trends
Long term global trends A maritime industry operating in a more complex world Geopolitical Maritime security Energy security landscape and resilience and efficiency
Slide 6: More than 80% of global trade
Kongsberg Maritime More than 80% — of global trade
Slide 7: New reality creates opportunities
New reality creates opportunities National maritime strategies Regional changes Trade agreements Governments have maritime high on the agenda Less globalisation, more regionalisation Regional and bilateral frameworks grow in importance Photo: Philip Davali/Ritzau Scanpix
Slide 8: Increased defence spending drives naval investments
Increased defence spending drives naval investments Naval investments Traditional naval Drive towards to increase vessels are expensive standardisation 250 50 100 200 40 80 Source: S&P Global, AMI, KM Business Intelligence. *Excludes China, Russia and non–accessible markets. 150 30 60 Global Platfor
Slide 9: Decarbonisation – the solutions are here
Decarbonisation – the solutions are here
Slide 10: Macro tailwinds drive vessel contracting
Macro tailwinds drive vessel contracting Favourable macro conditions across all of KM's core end-markets Merchant Offshore energy Naval GDP growth and world trade Demand for energy, security and energy mix Global defence spending
Slide 11: 10% CAGR, >16% EBITDA through a 5-year cycle
10% CAGR >16% EBITDA through a 5-year cycle gradually through a 5-year cycle
Slide 12: Financial ambitions
Financial ambitions Mette Toft Bjørgen, CFO
Slide 13: Sustained revenue growth
Sustained revenue growth Backed by a continuously expanding order backlog 35000 35 60.0 % Aftermarket 30000 Aftermarket 28 30 Newbuild Newbuild EBITDA % 27 50.0 % 25000 25 40.0 % 20000 20 15 30.0 % 15000 15 12 20.0 % 24,035 10000 10 15% 10.0 % 5000 5 10% 0 0.0 % 0 * 2021 2022 2023 2024 2025 LTM Q1 2
Slide 14: Securing profitable growth
Securing profitable growth Efficiency initiatives and capital discipline to further strengthen competitiveness 600 MNOK 1.8 BNOK FULL-YEAR EFFECT IN 2027 LTM Q1’26 Improvement programme Targeted organic R&D spend • Streamline operational 7.2% 7.3% 7.0% 6.2% 6.6% 6.7% performance • Ensure a strong an
Slide 15: Financial strength and flexibility
Financial strength and flexibility 5.8% Cash 3 BNOK BBB+ ZERO INTEREST-BEARING DEBT LONG-TERM RATING NWC of LTM-revenue (%) NWC Robust working capital development Solid foundation Remain investment grade • Disciplined working capital • Solid balance sheet with low • Clear guardrails on leverage and
Slide 16: Prioritising shareholder remuneration and M&A
Prioritising shareholder remuneration and M&A Disciplined capital return, supporting a solid balance sheet and future capital requirements Shareholder Remuneration Portfolio Management • Annual dividend target of • M&A to complement and 40–60% of earnings after tax grow our portfolio beyond organic
Slide 17: Targeting profitable growth
Targeting profitable growth Execute positions, secure scale and competitiveness REVENUE CAGR Short-term Execution Capital ~10% growth 0-5% and scale allocation Through a 5-year cycle Strong long-term drivers - cyclical end-markets, robust and flexible business model EBITDA margin >16% 10% Gradual im
Slide 18: Our journey through the cycle
Our journey through the cycle Revenue navigated by Margins anchored by solid Propelled by disciplined innovation, domain knowledge project execution and financial execution and market tailwind cost control 18
Slide 19: Resilience and market exposure
Resilience and market exposure Lisa Edvardsen Haugan, President & CEO
Slide 20: Resilience against cyclicality
Resilience against cyclicality Strong degree of resilience through diversified lifecycle exposure Diversified exposure Solid and growing order backlog, Stable repair and across segments majority towards newbuild refurbishment market A broad exposure towards all shipping Order backlog provides revenu
Slide 21: Diversified across segments
Diversified across segments Offshore Tugs Naval & Gas Carriers Cargo Passenger Energy Governmental Typical newbuild contract value 5 – 50 10 – 500 1 – 80 10 – 20 20 – 200 50 – 200 range (MNOK) Mid/Long-term growth potential* KM market position today Strong position with large scope Strong position w
Slide 22: Gas Carriers
Gas Carriers Offshore Energy Cargo Tugs Passenger Naval Gas Carriers A strong track record Market dynamics Our focus moving forward • Delivered to more than 700 • Ordering activity is cyclical, but • Win complex integrated scope LNGCs, FSRUs and LNG- technology scope per vessel is on newbuild projec
Slide 23: Offshore Energy
Gas Carriers Offshore Energy Cargo Tugs Passenger Naval Offshore Energy Exposure to Energy security Our focus moving offshore energy forward • The bridge to propeller portfolio • A new pull for alternative • Invest in technology and supports the entire offshore energy digitalisation to improve lifec
Slide 24: Cargo
Gas Carriers Offshore Energy Cargo Tugs Passenger Naval Cargo The cargo market Deliveries Our focus moving towards cargo forward • Covers ships transporting • Products and integrated • Strengthen positioning with fuel goods across global seaborne systems enabling safe, cyber- agnostic approach towar
Slide 25: Tugs
Gas Carriers Offshore Energy Cargo Tugs Passenger Naval Tugs The tug market Emission reductions Our focus moving forward • Our relevant tug market • Traditionally mechanical diesel • Execute further on our already consists of 15,000 vessels drive trains dominate strong market share on azimuth global
Slide 26: Passenger
Gas Carriers Offshore Energy Cargo Tugs Passenger Naval Passenger The passenger market Exposure and Our focus moving segment trends forward • Cruise market growing with • Electrification and energy • Strengthen our position in strong bookings and high fleet efficiency driving newbuild pod-based prop
Slide 27: Naval
Gas Carriers Offshore Energy Cargo Tugs Passenger Naval Naval Equipped more than Potential for expanded Remote and autonomy 1,000 naval vessels product scope increasingly relevant • Type 26 frigates for • Traditional naval scope has • Uncrewed surface vessels is a the UK, Canada and Australia primar
Slide 28: Capital Markets Day
Kongsberg Maritime Capital Markets Day 2026-———a
Slide 29: Products and competitive edge
Products and competitive edge Johnny Aarseth, EVP Energy & Control Per Håvard Siljan Hjukse, EVP Propulsion & Handling
Slide 30: Kongsberg Maritime – Two main business areas
Kongsberg Maritime – Two main business areas Energy & Control Propulsion & Handling Supporting vessel owners and operators through the vessel lifecycle – enabling safe, efficient and future-ready maritime operations
Slide 31: Following the vessel through its lifecycle
Following the vessel through its lifecycle Design and construction phase Operational phase Lifetime Newbuild market Aftermarket extension 1-2 years 1-3 years 20+ years 10+ years Concept / Yard delivery Recurring aftermarket Typically 1-2 times pre-contract value cycle pending vessel / equipment Ship
Slide 32: Energy & Control
Energy & Control Navigation & Manoeuvring Automation Electrical Power Systems Ship Design Dynamic positioning, navigation, Automation, sensing and control of vessel Electrical power systems and energy Enables full-vessel design and system manoeuvring and vessel control, onboard systems and processes
Slide 33: Propulsion & Handling
Propulsion & Handling Thrusters Propellers Waterjets Handling Hydrodynamics, permanent magnet Shock qualification, system integration, Hydrodynamics, medium-size jets, large-jet Active heave compensation, system technology, azimuth thrusters, PODs, hydrodynamics, controllable pitch S4-L, small-jet r
Slide 34: What differentiates Kongsberg Maritime
What differentiates Kongsberg Maritime Competitive products Lifecycle partner Global presence Providing products in combination with system Supporting our clients through the vessel Local execution in all key regions – close to integration – ensuring reliability and lifecycle – from newbuild process
Slide 35: Solving challenges through hydrodynamic expertise
Solving challenges through hydrodynamic expertise What the design partnership delivered ~30% ~70% Less installed power better fuel efficiency per cargo moved more lane metres, +40% passengers …in a larger vessel at the same speed
Slide 36: Upgrades with proven value creation
Upgrades with proven value creation ~6% fuel saving ~15% emission reduction Propeller upgrades for Höegh Autoliners Pure Truck and Car Carriers Scandlines ferry thruster retrofitting programme Clear differentiation through Scalable retrofit potential Strong lifecycle hydrodynamic expertise and syste
Slide 37: Type 26 Frigate
Type 26 Frigate Specialised propeller position on an anti-submarine platform Replenishment-At-Sea Steering gear & rudder Stabiliser Propeller
Slide 38: Reach Remote – New market opportunities
New market Reach Remote opportunities Designed, developed and Expanding our USV offerings to delivered by Kongsberg Maritime address evolving customer needs
Slide 39: Svitzer 2600 electrified Tug
Rendered picture. Source: Svitzer Svitzer 2600 electrified Tug Kongsberg Maritime scope: Traditional vs. Fully-electrified/Hybrid Tug Traditional Tug ~2-3x revenue Electrified Tug Increased scope enabled by integration capabilities and breadth in offerings uplift
Slide 40: Creating customer value across multiple segments
Creating customer value across multiple segments Transpetro Bibby Marine eCSOV Solstad Norman Sentinel Segment: Cargo Segment: Offshore energy Segment: Offshore energy Terntank Offshore Patrol Cutter FLNG: Golar FLNG Segment: Cargo Segment: Naval Segment: Offshore energy Cadeler – A-Class Sir David
Slide 41: Slide 41
Slide 42: Thank you
Thank you Kongsberg Maritime