Cambi Asa · OSL:CAMBI
Cambi Asa — Pareto Securities' 28th annual Power & Renewable Energy Conference (January 2026)
19 slides from Cambi Asa's conference presentation, Jan 29, 2026
Slide 1: Cambi ASA
Cambi ASA Pareto Securities’ 28th annual Power & Renewable Energy Conference Dragoș Tâlvescu, Senior IR Manager 29 January 2026
Slide 2: Disclaimer
Disclaimer 2 Pareto Securities’ 28th annual Power & Renewable Energy Conference | 2
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: +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 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 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: 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’ 28th annual Power & Renewable Energy C
Slide 8: 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 Pareto Securities’ 28th annual Powe
Slide 9: 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 processes Agriculture Pareto Securities’ 28th annual Power & Renewable Energy Conference | 9
Slide 10: 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 11: 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 12: Global presence. Solid track record of delivered projects.
Global presence. Solid track record of delivered projects. 92 THP reference sites 28 countries Pareto Securities’ 28th annual Power & Renewable Energy Conference | 12
Slide 13: The achieved market penetration in selected markets shows the significant potential for our technology
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 % Population: 68 million Population: 5.6 million Cambi references: 26 Cambi referenc
Slide 14: 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 15: Sound financial results generated in Q3 2025
Sound financial results generated in Q3 2025 Revenue and operating profit per quarter (2021-Q3 2025) NOK million 342 • Operating profit has Revenue increased alongside Operating profit 294 306 revenue growth 277 257 • Most investments in 238 235 234 increasing the size of the 225 210 216 organisatio
Slide 16: 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-Q3 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 s
Slide 17: Increasing number of THP project opportunities in the pipeline
Increasing number of THP project opportunities in the pipeline Investments in sales and marketing capabilities, including dedicated resources in new markets • With wider geographic reach, early-stage projects represent most of the recent growth • Early engagement with utilities and consultants is re
Slide 18: 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 18 Pareto Securities’ 28th annual Power & Renewable Energy Conference | 18
Slide 19: Thank you!
Thank you!
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