NORDIC SEMICONDUCTOR ASA Q PRESENTATION Svenn-Tore Larsen CEO 27th of April, 2004

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

- 2 - Investor Presentation MAIN SHAREHOLDERS/STOCK OPTIONS Odin-fondene9,9% Delphi-fondene 8,0% Nordea-fondene7,0% Ferd Invest6,7% Inak AS6,6% Arne Græe6,1% Edvin Austbø5,2% Firstnordic-fondene5,1% Velox4,3% Employees5,5% Board members9,1% Stock options to board members2,6% Stock options to CEO2,6% Stock options to employees8,6%

- 3 - Investor Presentation PROFIT AND LOSS ACCOUNT MNOK COMPONENTS Std. Components SoC Components CONSULTING SoC Projects Data Converter Other operating revenue Total operating revenue Cost of goods sold Direct project costs Personnel expenses (1) Depreciation Other operating expenses EBIT Net financial items EBT Q1, ,1 11,3 7,5 4,0 0,0 40,9 15,1 1,3 15,2 0,9 6,2 2,2 0,2 2,4 Q1, ,1 4,0 10,2 5, ,3 6,8 2,6 13,5 1,4 7,3 -6,3 1,1 -5, ,2 24,5 41,5 9, ,3 22,5 17, , ,1 2,0 -33,0 Change Q1-Q1 196% 183% -26% -20% - 62% 122% -50% 13% -36% -15% - 28,0 24,1 39,6 18, ,3 34,2 8,8 51,0 5,3 29,4 -18,4 1,8 -16, (1) Option program tax Q1-04 NOK 1,3M, 2003 NOK 3,7M

- 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 MNOKQ ,6 15,0 21,0 4,3 29,4 101,3 81,1 2,0 18,2 101, ,7 15,3 18,7 2,0 37,1 105,8 79,4 2,0 24,4 105,

- 5 - Investor Presentation STRONG GROWTH IN REVENUE AND POSITIVE RESULT 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 OVERALL MARKET DIPPED IN JANUARY Semiconductor Market Source:World Semiconductor Trade Statistics / SIA Monthly WW Semiconductor Sales (BUSD)

- 8 - Investor Presentation RECORD REVENUE AND BACKLOG Quarterly Operating Income, Booking And Backlog MNOK

- 9 - Investor Presentation COMPONENTS DOMINATE REVENUE Revenue Split Q (1) SoC Projects excluding components sold (1)

Investor Presentation FIRST QUARTER - A GOOD START ON A GREAT YEAR? Summary of Financial Status Strong quarter with record revenues and positive bottom line despite heavy investments for future growth Record revenue of 40.9 MNOK Quarter to quarter growth of 14% 2.4 MNOK in profits, 5.9% of turnover (9,0% exclusive tax on option program) Record Backlog Backlog is 68.MNOK Book/Bill : 1.06 Book/Bill for standard components : 1.94

Investor Presentation AGENDA Financial Update Sales Update Product Division Status

Investor Presentation nRF24XX FROM PROTOTYPES TO PRODUCTION Standard Components Status Explosive quarterly growth: Q to Q growth; 88% Exceptional booking 35.1 MNOK Booking Book/Bill: 1.94 Multiple end customer projects in volume production 323 new evaluation kits sold this quarter Fast rampup of new products 58% of revenue coming from new products available last 12 months Nordic has been established as a leading technology provider to wireless game accessories nRF9E5 and nRF905 successfully launched Q1 contribution 600 KNOK First production orders already received

Investor Presentation NEW PRODUCT FAMILIES ARE DOMINATING REVENUE Revenue Split Q to Q Revenue from Standard Components (MNOK)

Investor Presentation FOCUS ON PRODUCTION AND TEST CAPACITY Standard Components Status Nordic has secured wafer capacity for a strong growth Nordic has invested in additional device test capacity Test equipment Test software Packaging Invested 1,5 MNOK this quarter for future cost optimization and capacity increase

Investor Presentation FOCUS ON DISTRIBUTION ACTIVITIES Standard Components Status Annual European distribution training 55 participants Management Commercial Technical Invested 500KNOK this quarter for fully trained sales channels

Investor Presentation CEBIT Logitech Chooses Nordic VLSI’s 2.4GHz RF-devices for Next Generation Wireless Platform in Gaming Devices “Our initial choice of going with Nordic VLSI was based on the excellence of their products and their commitment to ensuring Logitech a successful product development phase, ” said Paul Loughnane, Hardware Engineer Manager of Logitech's Interactive Entertainment Division. “We have been very satisfied; Nordic VLSI’s commitment to Logitech is strong and their support never stops impressing me. The devices have been very easy to work with, and we have been able to reach an optimal solution for our products.”

Investor Presentation CEBIT

Investor Presentation CEBIT

Investor Presentation CEBIT

Investor Presentation To be continued….

Investor Presentation STABLE ACTIVITY OF CUSTOMER PROJECTS SoC Project Status Three major projects taped out Component deliveries expected in Q4 Two new projects started Value added with Nordic IP Two new pre-projects started Will generate two new projects in Q2/Q3 Value added with Nordic IP Several engineers assigned to new RF product development All projects on track

Investor Presentation SLOW QUARTER FOR SOC COMPONENTS SoC Components Status Revenue influenced by 0.9MUSD contribution from sell out of production rights of Wireless LAN baseband device to Philips Semiconductor No new components into volume Design cycles longer than for consumer equipment Will release 8 new components to volume production during 2004

Investor Presentation CONSOLIDATION QUARTER FOR DATA CONVERTERS IP Data Converter Status High focus on new architecture for graphic applications aimed at flat panel segment Joint development with a customer Good prospect list in Japan and US Nordic IP presented at ISSC-04

Investor Presentation NORDIC SEMICONDUCTOR WELL POSITIONED FOR FUTURE GROWTH Summary Still strong quarterly growth Customer portfolio contains strong brand names Growth driven by Standard Components On track to deliver on the promise of becoming a leading semiconductor company Revenue Product portfolio Quality customers Production capacity Brand name recognition Distributor appeal World leading manufacturing partners

Investor Presentation NORDIC SEMICONDUCTOR WELL POSITIONED FOR FUTURE GROWTH Summary “We are pleased that Nordic has chosen the Green QFN packaging solution to address the significant ecological challenges of increasing concern to customers today," said Dr. Tien Wu, president of ASE Americas, Europe and Japan. "This development demonstrates our expanding presence and penetration into the global Green package market. ASE's unique technology in Green QFN packaging has set a new standard in lead-free packages by enabling world-class performance for the most complex RFIC devices."