Norsk Hydro Asa · OSL:NHY

Norsk Hydro Asa — Merger or Acquisition (November 2003)

7 slides from Norsk Hydro Asa's merger presentation, Nov 28, 2003

  1. Slide 1: Hydro to demerge Agri

    Hydro to demerge Agri Eivind Reiten, President and CEO November 28, 2003

  2. Slide 2: Successful strategy implementation

    Successful strategy implementation z Five years of significant change „ Oil and Energy – doubling of production „ Aluminium – transformed and third-largest in the world through VAW acquisition „ Agri – successful turnaround „ Non-core divestments of NOK 25 billion z Management systems improved z Per

  3. Slide 3: Hydro's portfolio reviewed

    Hydro’s portfolio reviewed z Attractive opportunities in all three areas z Agri separation preferred option „ Turnaround completed, well positioned for profitable growth „ Global industry leader „ Direct access to capital markets z Planned listing on Oslo Stock Exchange March 25 z Hydro will focus o

  4. Slide 4: Transaction

    Transaction z Demerging Agri „ 80% to Hydro’s existing shareholders – 1 Agri share per 1 Hydro share „ 20% planned sold at the time of listing z Background for selected model „ Transfer Agri values directly to shareholders „ 20% offering to effectively position Agri in capital markets z State owners

  5. Slide 5: Capital structure

    Capital structure z Agri’s capital structure per Oct. 1, 2003: „ Net interest-bearing debt NOK 8.5 bn „ Book value of equity NOK 8.0 bn „ Net pension liabilities NOK 2.0 bn z Capital allocation in Hydro; „ High ongoing investment level „ Debt reduction „ Service of shareholders Date: 2003-11-28 - Pa

  6. Slide 6: Good for Agri - good for Hydro

    Good for Agri - good for Hydro z Agri – the worlds leading fertilizer company - is positioned for further value creation z Hydro will concentrate attention and financial resources on the opportunities in: „ Oil and Energy – Current projects: Ormen Lange, Kristin, Dalia „ Aluminium – Current projects

  7. Slide 7: Timeline

    Timeline z Dec. 1 - Demerger information memo z Dec. 3-5 - Agri Capital Markets Days z Dec. 11 - Hydro Capital Markets Day z Jan. 15 - Extraordinary General Meeting z Feb. 16 - 4th quarter results z March 25 - Planned listing of Agri Date: 2003-11-28 - Page: 7

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