1. 1 EKORNES ASA 2011-Q4 2011

2. 22 Ekornes Q4-2011 - Headlines: Challenging year – revenues and profit down EBIT 2011 MNOK 386.5 (2010: MNOK 534.0). Q4 - EBIT MNOK 87.0 (2010: MNOK 120.9). Employee bonus: NOK 26.2 mill. - down NOK 10.8 mill.. In Q4 : NOK 3.7 mill.– down NOK 1.8 mill. In general, furniture markets still challenging and uncertain. Signs of improvement in some markets (Norway, Central Europe, USA) Production capacity – Stressless® down through 2011. Seats per day down (1,674 seats/1,811 seats). Seats per day in Q4 1,604 (1,771 in 2010) Current capacity 1,650 – 1,700 seats (Q1 2011 – 1,830 seats) (all depending on prod.mix). Stressless® chairs stable. Stressless® sofa and Ekornes® Collection down. Svane® stable– Norway and Finland up. Order income in par with capacity. Order book up through Q4 and at a good level. Foreign exchange position good. Raw material prices continued up through 2011. However, levelling out and slightly down by year end. Mixed picture into 2012. Board of Directors proposing a dividend of NOK 7.50 per share 2011

3. 3 Development in Operating Revenue 2011

4. 44 Development in Operating Revenue 2011

5. 5 Quarterly development in Operating Revenue (NOK mill.) : 2011

6. 66 Distribution of operating revenues – by product area year to date ( NOK mill.)

7. 77 2011 Distribution of operating revenues – by product area Sofas year to date ( NOK mill.)

8. 88 2011 Distribution of operating revenues – by product area quarterly data ( NOK mill.)

9. 99 2011 Distribution of operating revenues – by product area sofas quarterly data ( NOK mill.)

10. 10 2011 Contribution margin by product area

11. 11 Development in direct costs 2011

12. 12 Contribution and operating margin (EBIT) 2011

13. 13 Development in Operating result (EBIT) and Pre-tax margin (EBT): 2011

14. 14 Development in Pre-tax margin (EBT) and Operating result (EBIT): 2011

15. 15 Development EPS fully diluted (Figures in NOK) 2011

16. 16 Income Statement (NOK mill.) 20112010 Operating revenues2,757.6100.0%2,868.8100.0% Materials708.425.7%663.123.1% Salaries and social costs773.528.1%774.927.0% Other operating expenses763.627.7%780.327.2% Depreciation125.54.6%116.54.1% Total operating costs2,371.186.0%2,334.881.4% Operating result386.514.0%534.018.6% Net financial income/expenses Profit/loss currency exchange 0.7 2.4 0.0% 0.1% 1.5 0.9 0.1% 0.0% Ordinary result before taxes389.614.1%536.418.7% Taxes on ordinary result115,7-4.2%155.5-5.4% Ordinary result after taxes273.99.9%380.913.3% EPS7.4410.34 2011

17. 17 Income Statement individual quarter (NOK mill.) Q4/11Q4/10 Operating revenues676.7100.0%693.0100.0% Materials185.227.4%168.524.3% Salaries and social costs182.226.9%187.027.0% Other operating expenses189.328.0%186.126.9% Depreciation33.04.9%30.54.4% Total operating costs589.787.1%572.182.5% Operating result87.012.9%120.917.5% Net financial income/expenses Profit/loss currency exchange -0.3 8.4 0.0% 1.2% 0.7 10.1 0.1% 1.4% Ordinary result before taxes95.114.1%131.719.0% Calculated taxes ordinary result-27.4-4.0%-40.1-5.8% Ordinary result after taxes67.710.1%91.613.2% EPS1.842.49 2011

18. 18 2011 2010 Total Long Term Assets978.5961.8 Inventories264.9297.5 Trade Debtors365.6338.0 Other Current Assets44.735.9 Value of forward contracts148.0190.8 Cash and Bank Deposits297.4441.3 Total Current Assets1,120.61,303.5 TOTAL ASSETS2,099.12,265.3 Total Equity1,657.91,744.6 Provisions, commitments, deferred tax57.175.1 Trade Creditors93.588.0 Taxes, VAT and national insurance109.7145.1 Short term liabilities - bank0.0 Other current liabilities180.9212.5 Total Liabilities441.2520.7 TOTAL EQUITY AND LIABILITIES2,099.12,265.3 Balance Sheet (NOK mill.) 2011

19. 19 Q4/11Q3/11 Total Long Term Assets978.6980.9 Inventories264.9289.4 Trade Debtors365.6441.8 Other Current Assets44.7 52.9 Value of forward contracts148.0146.6 Cash and Bank Deposits297.4146.8 Total Current Assets1,120.6 1,076.5 TOTAL ASSETS2,099.1 2,057.4 Total Equity1,657.91,588.5 Provisions, commitments, deferred tax57.157.7 Trade Creditors93.5 101.3 Taxes, VAT and national insurance Short term liabilities bank 109.7 0.0 112.2 0.0 Other current liabilities180.9197.7 Total Liabilities441.2468.9 TOTAL EQUITY AND LIABILITIES2,099.12,057.4 Balance Sheet (NOK mill.) 2011

20. 20 Development in cash-flow and bank deposits (NOK mill.) 2011

21. 21 Development in Total Capital, Net-working Capital and Equity (NOK mill.) 2011

22. 22 Change in order influx per market (%) (in local currency) 2011

23. 23 Operating revenue per market (NOK mill.) 2011

24. 24 Operating revenue per market – Q4 (NOK mill.) 2011

25. 25 Operating revenue per market (Mill. NOK) 2011

26. 26 Coming events: 2011 10 May 2012: Announcement of Q1/12 result and Ordinary General Assembly 11 May 2012: Presentation of Q1/12 result 15 August 2012: Announcement of Q2/12 result 16 August 2012: Presentation of Q2/12 result (incl.webcast) 12 November 2012: Announcement of Q3/12 result 13 November 2012: Presentation of Q3/12 result All presentations are held in Oslo, at Hotel Continental.(08.00 a.m).

27. 27 Questions? 2011

28. 28 2011 28 Olav Kjell Holtan - Chairman Kjersti Kleven – Vice Chairman Gry Hege Sølsnes Stian Ekornes Nora Förisdal Larssen Employee Representatives: Arnstein Johannesen Tone Helen Hanken Atle Berntzen CEO:Øyvind Tørlen oyvind.torlen@ekornes.no Phone: +47 70 25 52 22oyvind.torlen@ekornes.no Mobile: +47 97 11 19 79 CFO: Robert Svendsen robert.svendsen@ekornes.no Phone: +47 70 25 52 13 Mobile: +47 91 89 50 24 Board of DirectorsGroup Management IR-Contacts