NORDIC VLSI ASA Q PRESENTATION Svenn-Tore Larsen CEO 17. July, 2003

- 1 - Investor Presentation AGENDA Financial Update Sales Update Product Division Status

- 2 - Investor Presentation MAIN SHAREHOLDERS Odin-fondene9% Delphi-fondene (1) 8% Nordea-fondene8% Inak AS8% Ferd Invest7% Firstnordic-fondene5% Nordea Securities (market making) 5% Arne Græe5% Velox4% Employees5% Board members9% Stock options to employees11% (1): Still reporting Delphi and Storebrand separately

- 3 - Investor Presentation PROFIT AND LOSS ACCOUNT MNOK Sales Standard components Sales System on Chip Projects Components Sales Data Converter IP Other operating revenue Total operating revenue Cost of goods sold Direct project costs Personnel expenses Depreciation Other operating expenses Operating profit/loss Net financial items Profit before taxes Q2, ,0 7,8 3,7 0,0 20,2 5,9 2,1 10, ,5 0,5 -7,0 Q2, ,0 15,6 3,8 1, ,7 4,5 6,4 12,0 0,8 9,1 -8,1 0,2 -7, , , Change Q2-Q2 25% -50% -3% 185% - -18% 31% -67% -10% 50% -15% 7% 150% 11% , ,4 5, ,1 -33,0 2001

- 4 - Investor Presentation BALANCE SHEET Fixed and long term assets Inventories Accounts receivables Other receivables Cash and cash equivalents Total assets Equity Long term liabilities Current liabilities Sum equity and liabilities MNOKQ2, ,9 12,0 14,4 5,6 36,0 101,9 82,3 2,0 17,6 101,

- 5 - Investor Presentation QUARTERLY OPERATING INCOME AND EARNINGS MNOK Operating income Earnings before taxes

- 6 - Investor Presentation AGENDA Financial Update Sales Update Product Division Status

- 7 - Investor Presentation SEMICONDUCTOR MARKET SLOW GROWTH Source:World Semiconductor Trade Statistics Monthly WW Semiconductor Sales (BUSD)

- 8 - Investor Presentation STRONG INCREASE IN BACKLOG Quarterly Operating Income, Booking And Backlog MNOK

- 9 - Investor Presentation INCREASING SHARE OF STANDARD PRODUCTS Revenue Split (1) SoC Projects excluding components sold (1)

Investor Presentation BACKLOG INCREASED SIGNIFICANTLY LAST QUARTER Summary of Financial Status Backlog increase by 14% over Q1 Backlog increase across business units Book/Bill: 1.31 Operating loss increase due to accelerated R&D effort Operating expenses reduced Direct Development expenses increase due to aggressive product launches Product in backlog before release Sales of standard component lower than expected Slow Chinese market in the beginning of the quarter - SARS? Lower than expected shipment to top customers compared to Q1

Investor Presentation AGENDA Financial Update Sales Update Product Division Status

Investor Presentation STRONG BOOKING OF NEW STANDARD PRODUCTS Standard Components Status Slower than expected sales of standard components Backlog increase by ~ 50% nRF24XX family accounts for 25% of backlog Shipped ~350 nRF2401 and nRF24E1 Evkits to targeted customer base Significantly more than with previous product launches Full production of nRF2401, nRF24E1 and nRF24E2. nRF2402 Production in July Large volumes of Evaluation Kits shipped Initial prototype series shipments supported New extensive product family for other market segments will be launched this fall Unprecedented feature set, performance, integration and solution cost Development work ended and wafer production started Working under NDA with 5 major customers for early design wins

Investor Presentation nRF24XX PICKUP EXCEEDING EXPECTATIONS IN ALL MAJOR REGIONS Shipments of Eval Kits Successful distribution of nRF24XX Evalutions Kits in all Regions Easy access to key target customers through established Nordic distributors....but also specially strong pickup in the US market (22 %) relative to the short presence (January) Global acceptance of our new products Europe 46% Asia-Pacific 30% North America 22%

Investor Presentation SUCCESSFUL DESIGN WINS IN ALL TARGET SEGMENT Focus on Key Market Segments Applications Mouse/keyboard Joystick/gamepad Intelligent sports equipment Headset Audio Industrial Payback from solid market research and targeted sales strategy Product FitCustomer AccessDesign Wins

Investor Presentation CUSTOMERS ARE GETTING INTO THE MOOD FOR PRODUCTION The nRF24XX devices are very easy for the customer to work with Customer RF experience is no longer needed Faster development cycles Customers are replacing existing solutions with our new devices which ensures design wins in mature products Product volumes are significantly higher in new design wins than with previous devices The new product family has opened up new customer account including major global players

Investor Presentation HIGHER ACTIVTY OF CUSTOMER PROJECTS SoC Project Status Several new major projects initiated 3 large projects Large increase in backlog All resources utilized Signed new large project with Nera Satcom (July)

Investor Presentation SLOW QUARTER FOR SOC COMPONENTS SoC Components Status Slow customer demand during quarter Large shipments delayed to Q3 from Q2 Backlog shows higher revenues for Q3 and Q4 Existing portfolio of customers are indicating increased runrate

Investor Presentation GOOD QUARTER FOR DATA CONVERTERS IP Data Converter Status 2 new contracts signed this quarter Launched new 0.13µm products Working with good opportunities for Q3 and Q4

Investor Presentation SUMMARY High activity on new products sales New nRF24XX family accounts for 25% of standard products backlog New products completed and will launch this fall Will start development of next generation devices early august “MegaZig” Planned launch Q Backlog of SoC projects will cover most of Q3 and Q4 Nera Satcom project high priority Will increase shipments of SoC Components Products portfolio for AD IP is very strong and attracting new leading customers Continue to keep close attention to cost