1 EKORNES ASA 1 st Quarter kvartal st Quarter

22 Ekornes Q1 - Headlines: 1. kvartal st Quarter Ekornes presenting solid figures EBIT MNOK (Q1/08: MNOK 101.0) EBT MNOK 87.3 (Q1/08: MNOK 101.1). Down due to currency effects (MNOK compared to MNOK -1.0 in Q1/08) Operating revenue slightly increased (+2.8%) due to currency effects and reduced inventory. Down 4% using fixed exchange rates In general, market still challenging and uncertain. No sign of improvement Order income slightly up, however down 4.3% using fixed exchange rates Strong growth in Central Europe (+12.6%) – despite a weak market Decline in order income in most other markets Production capacity – Stressless® down 13% - also in Q2 (1,500 seats/1,700 seats) Svane® – improved distribution in Norway as from June Good order income April Order book building up. Full capacity utilisation expected in Q2 (However at a lower level than 2008). Better development in Stressless® chair than Stressless® sofa Foreign exchange position good. Raw material prices continuing down

3 Development in Operating Revenue 1. kvartal st Quarter

44 Development in Operating Revenue 1. kvartal st Quarter

55 Operating revenue by product area ( Mill.NOK) 1. kvartal st Quarter

66 Operating revenue: Product area Stressless® (Mill. NOK) 1. kvartal st Quarter

77 Contribution margin by product area 1. kvartal st Quarter

88 Development in direct costs 1. kvartal st Quarter

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

10 Contribution and operating margin (EBIT) 1. kvartal st Quarter

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

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

13 Development EPS fully diluted (Figures in NOK) 1. kvartal st Quarter

14 Income Statement (mill. NOK) 1. kvartal st Quarter Q1/09Q1/08Changes Operating revenues % %2.8% Materials % %6.6% Salaries and social costs % %-9.9% Other operating expenses % %10.3% Depreciation % %5.6% Total operating costs % %2.0% Operating result % %6.9% Net financial income/expenses Profit/loss currency exchange % -3.0% % -0.2% Ordinary result before taxes % %-13.7% Calculated taxes ordinary result % %-13.3% Ordinary result after taxes % %-13.8% EPS

15 Income Statement 1 April- 31 March (mill. NOK) 1. kvartal st Quarter 08/0907/08Changes Operating revenues2, %2, %4.3% Materials % %3.5% Salaries and social costs % %-7.4% Other operating expenses % %13.5% Depreciation % %24.2% Total operating costs2, %2, %4.0% Operating result % %6.1% Net financial income/expenses Profit/loss currency exchange % 0.6% % -1.0% Ordinary result before taxes % %14.7% Calculated taxes ordinary result % %13.9% Ordinary result after taxes % %14.4% EPS

16 Balance Sheet (mill. NOK) 1. kvartal st Quarter Q1/09Q1/08CHANGES Total Long Term Assets % Inventories % Trade Debtors % Other Current Assets % Value of forward contracts-71.0 Cash and Bank Deposits % Total Current Assets % TOTAL ASSETS1,875.21, % Total Equity1,323.81, % Provisions, commitments, deferred tax % Trade Creditors % Taxes, VAT and national insurance Value of forward contracts % Bank loans % Other current liabilities % Total Liabilities % TOTAL EQUITY AND LIABILITIES1,875.21, %

17 Q1/09Q4/08CHANGES Total Long Term Assets978.01, Inventories Trade Debtors Other Current Assets Cash and Bank Deposits Total Current Assets TOTAL ASSETS1,875.21, Total Equity1,323.81, Provisions, commitments, deferred tax Trade Creditors Taxes, VAT and national insurance Value of forward contracts Bank loans Other current liabilities Total Liabilities TOTAL EQUITY AND LIABILITIES1,875.21, Balance Sheet (mill. NOK) 1. kvartal st Quarter

18 EQUITY Q1/09Q1/ Result after taxes and before other comprehensive income Other comprehensiv income: Actuarial gains on defined benefit plans Change in deferred tax – pensions--1.3 Change in value cash-flow hedging Change in deferred tax – cash flow hedging Translation differences Translation differences – net financing subsidiaries Change in deferred tax – net financing subsidiaries Total other comprehensive income Total comprehensive income Equity at the beginning of the period1,103.51,265.4 Total comprehensive income Dividend paid out Equity at the end og the period1,323.81,322.11, 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 Operating revenue per market (Mill. NOK) 1. kvartal st Quarter

22 Operating revenue per market (Mill. NOK) 1. kvartal st Quarter

23 Coming events: 17 August 2009: Announcement of Q2/09 result 18 August 2009: Presentation of Q2/09 result 10 November 2009: Announcement of Q3/09 result 11 November 2009: Presentation of Q3/09 result 1. kvartal st Quarter

24 Questions? 1. kvartal st Quarter

25 Largest shareholders ( ) 1.Nordstjernan ABSWE11.73% 2.State Street BankUSA9.83% 3.FolketrygdfondetNOR9.72% 4.JP Morgan Chase BankGBR6.79% 5.Orkla ASANOR5.14% 6.Skandinaviska EnskildaSWE4.65% 7.Pareto Aksje NorgeNOR4.32% 8.Handelsbanken HelsinkiFIN3.37% 9.Berit Ekornes UnhjemNOR2.89% 10.Oslo PensjonsforsikringNOR2.88% Other shareholders approx. 2, % Proportion:Norwegian shareholders47.1% Foreign shareholders52.9% 1. kvartal st Quarter

26 Board of DirectorsGroup Management Olav Kjell Holtan Gry Hege Sølsnes Stian Ekornes Kjersti Kleven Torger Reve Nora Förisdal Larssen 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