EKORNES ASA 1 st Quarter kvartal st Quarter

2 Ekornes Q1 - Headlines: Strong start in important markets: –CE: Order influx up 26.4%, revenues op 11.2% in local currency –USA: Order influx up 39.8%, revenues up 16.9% in local currency. Influenced positive by Easter and raised prices as from April Customer confidence uncertain and negative in most markets – Germany important exception Order book record high – NOK 362 mill end of April (NOK 239 mill in 2007). USA shorter horizon Foreign exchange and raw material prices challenging Stressless® - Capacity to be increased further in Q2 by 50 – aiming 1,750 seats per day end Q2 Ekornes® Collection – Model range taken down to four models – supplementary to Stressless® sofa Mattresses – Development unsatisfactory – Lost market shares through winter sales period in Norway 1. kvartal st Quarter

3 Development in Operating Revenue: 1. kvartal st Quarter

4 Development in Operating Revenue: 1. kvartal st Quarter

5 Distribution of turnover by product area (mill.NOK): 1. kvartal st Quarter

6 Distribution of turnover product area Stressless®: (Mill. NOK) 1. kvartal st Quarter

7 Contribution margin by product areas: 1. kvartal st Quarter

8 Development in relative factors: 1. kvartal st Quarter

9 Development in direct salaries at the factories: (Based on factory price, year-end bonus not included) 1. kvartal st Quarter

10 Total contribution and operating margin : 1. kvartal st Quarter

11 1. kvartal st Quarter 11 Development in Pre-tax margin (EBT) and Operating result (EBIT):

12 1. kvartal st Quarter Development in Pre-tax margin (EBT):

13 Development EPS fully diluted (Figures in NOK) : *EPS for 2003 is calculated based on the same number of shares as 2004, 2005, 2006 and kvartal st Quarter

14 Income Statement (mill. NOK) : Q1/08Q1/07Changes Operating revenues % %1.0% Materials % %11.2% Salaries and social costs % %5.0% Other operating expenses % %0.1% Depreciation % %8.1% Total operating costs % %5.3% Operating result % %-18.1% Net financial income/expenses Profit/loss currency exchange % -0.2% % 0.0% Ordinary result before taxes % %-18.5% Calculated taxes ordinary result % %-21.4% Ordinary result after taxes % %-17.1% EPS kvartal st Quarter

15 Income Statement – 1 APRIL/ 31 MARCH (mill. NOK) : Changes Operating revenues2, %2, %2.2% Materials % %14.5% Salaries and social costs % %0.4% Other operating expenses % %5.3% Depreciation % %6.4% Total operating costs2, %2, %6.3% Operating result % %-14.0% Net financial income/expenses Profit/loss currency exchange % -1.0% % -0.5% Ordinary result before taxes % %-16.3% Calculated taxes ordinary result % %-19.8% Ordinary result after taxes % %-14.2% EPS kvartal st Quarter

16 Q1/08Q1/07CHANGES Total Long Term Assets % Inventories % Trade Debtors ,4% Other Current Assets % Value of forward contracts % Cash and Bank Deposits % Total Current Assets895.21, % TOTAL ASSETS1,810.01, % Total Equity1,322.11, % Provisions and Commitments % Long Term Liabilities (interest) % Trade Creditors % Taxes, VAT and national insurance % Other current liabilities % Total Liabilities % TOTAL EQUITY AND LIABILITIES1,810.01, % Balance Sheet (mill. NOK) : 1. kvartal st Quarter

17 Balance Sheet (mill. NOK) : 1. kvartal st Quarter Q1/08Q4/07CHANGES Total Long Term Assets Inventories Trade Debtors Other Current Assets Value of forward contracts Cash and Bank Deposits Total Current Assets TOTAL ASSETS1,810.01, Total Equity1,322.11, Provisions and Commitments Long Term Liabilities (interest) Trade Creditors Taxes, VAT and national insurance Other current liabilities Total Liabilities TOTAL EQUITY AND LIABILITIES1,810.01,

18 EQUITY Q1/08Q1/ EQUITY AT START OF PERIOD1,265.41,159.5 Profit of the year Dividend paid out Purchase of own shares--7.9 Sale of own shares Translation differences and other Change value of forward contracts EQUITY AT END OF PERIOD1,322.11,285.01, kvartal st Quarter

19 Development in cash-flow and bank deposits (Mill.NOK) : 1. kvartal st Quarter

20 Development in Total Capital, Net-working Capital and Equity (mill. NOK) 1. kvartal st Quarter

21 Cash Reserve (million NOK) : 1. kvartal st Quarter

22 Development in Operating Revenue per market (million NOK) 1. kvartal st Quarter

23 1. kvartal st Quarter Development in Operating Revenue per market (million NOK)

24 Coming events: 14 August 2008: Announcement of Q2/08 result 15 August 2008: Presentation of Q2/08 result 06 November 2008: Announcement of Q3/08 result 07 November 2008: Presentation of Q3/08 result 1. kvartal st Quarter

25 Questions? 1. kvartal st Quarter

26 1. kvartal st Quarter Largest shareholders ( ) 1.State Street Bank, USA 10.30% 2.Folketrygdfondet, NOR 9.72% 3.Nordstjernan AB, SWE 6.92% 4.JP Morgan Chase Bank, GBR 6.76% 5.Skandinaviska Enskilda, SWE 5.57% 6.Pareto Aksje, NOR 4.53% 7.Handelsbanken Helsinki, FIN 3.37% 8.Berit Ekornes Unhjem, NOR 2.89% 9.Oslo Pensjonsforsikring, NOR 2.88% 10. JP Morgan Chase Bank, GBR 2.72% Other shareholders approx. 2, % Proportion:Norwegian shareholders42.8% Foreign shareholders57.2%

27 Board of DirectorsGroup Management Olav Kjell Holtan Gry Hege Sølsnes Jens P. Ekornes Torger Reve Kjersti Kleven Employee Representatives: Arnstein Johannesen Tone Helen Hanken Atle Berntzen CEO: Nils-Fredrik Drabløs Phone: Mobile: COO:Øyvind Tørlen Phone: Mobile: CFO: Robert Svendsen Phone: Mobile: Marketing Director: Runar Haugen International Marketing Director: Svein Lunde 1. kvartal st Quarter