1. 1 EKORNES ASA 3 rd QUARTER 2011 3. kvartal 2011 3 rd Quarter

2. 22 Ekornes Q3-2011 - Headlines: Q3 - revenues down due to lower order income in Q2 and lower capacity. Profit down due to lower revenues and increased raw material costs. YTD EBIT MNOK 299.5 (YTD 2010: MNOK 413.1) YTD EBT MNOK 294.5 (YTD 2010: MNOK 404.8). Q3 operating revenue down 4,4%; Stressless® chairs slightly up. Sofas and mattresses down. Lower capacity. In general, macro environment uneasy and furniture markets challenging, volatile and uncertain. Very difficult to predict the development for the coming months. Order income down in most markets in Q3. Positive exceptions are Norway, Central Europe and Japan Production of Stressless® seats per day YTD down (1,699 seats/1,823 seats). Q3: 1,644 seats compared to 1,862 in Q3 2010). Stressless® production level planned for Q4 at 1,650-1,700 seats. Production disturbances are mostly solved. Svane® – Revenues and profit down. Order income October, at same level as October last year. Order book end October NOK 249 mill. compared to NOK 276 mill. end of October 2010. Foreign exchange position good. Raw material prices at a high level, and some still increasing. 3. kvartal 2011 3 rrd Quarter

3. 33 Development in Operating Revenue: 3. kvartal 2011 3 rd Quarter

4. 44 Development in Operating Revenue 3. kvartal 2011 3 rd Quarter

5. 55 Operating revenues by product area – Year to date Q3 ( Mill.NOK) 3. kvartal 2011 3 rd Quarter

6. 66 Operating revenues by product area – Q3 ( Mill.NOK) 3. kvartal 2011 3 rd Quarter

7. 77 Operating revenues: Stressless® - Year to date Q3 (Mill. NOK) 3. kvartal 2011 3 rd Quarter

8. 88 Operating revenues: Stressless® - Q3 (Mill. NOK) 3. kvartal 2011 3 rd Quarter

9. 99 Operating revenues: Product area Sofas – Year to date Q3 ( NOK mill.) 3. kvartal 2011 3 rd Quarter

10. 10 Operating revenues: Product area Sofas – Q3 ( NOK mill.) 3. kvartal 2011 3 rd Quarter

11. 11 Contribution margin by product area 3. kvartal 2011 3 rd Quarter

12. 12 Development in direct costs 3. kvartal 2011 3 rd Quarter

13. 13 Contribution and operating margin (EBIT) 3. kvartal 2011 3 rd Quarter

14. 14 Development in Operating result (EBIT) and Pre-tax margin (EBT): 3. kvartal 2011 3 rd Quarter

15. 15 Development in Operating result (EBIT) and Pre-tax margin (EBT): 3. kvartal 2011 3 rd Quarter

16. 16 Development EPS fully diluted (Figures in NOK) 3. kvartal 2011 3 rd Quarter

17. 17 Income Statement year to date (mill. NOK) 20112010 Operating revenues2,080.9100.0%2,175.8100.0% Materials523.225.1%494.622.7% Salaries and social costs591.328.4%587.927.0% Other operating expenses574.327.6%594.227.3% Depreciation92.64.5%86.04.0% Total operating costs1,781.485.6%1,762.781.0% Operating result299.514.4%413.119.0% Net financial income/expenses Profit/loss currency exchange 1.0 -6.0 0.1% -0.3% 0.8 -9.2 0.0% -0.4% Ordinary result before taxes294.514.2%404.818.6% Calculated taxes ordinary result-88.3-4.3%-121.5-5.7% Ordinary result after taxes206.29.9%283.312.9% EPS 5.607.69 3. kvartal 2011 3 rd Quarter

18. 18 Income Statement individual quarter (mill. NOK) Q3/11Q3/10 Operating revenues647.7100.0%673.2100.0% Materials174.226.9%152.122.6% Salaries and social costs171.326.5%179.526.7% Other operating expenses175.327.1%182.127.1% Depreciation31.44.8%29.24.3% Total operating costs552.285.3%542.980.6% Operating result95.514.7%130.319.4% Net financial income/expenses Profit/loss currency exchange -0.5 +8.9 -0.1% +1.4% -0.1 -12.9 -0.0% -1.9% Ordinary result before taxes103.916.0%117.317.4% Calculated taxes ordinary result-31.1-4.8%-35.2-5.2% Ordinary result after taxes72.811.2%82.112.2% EPS1.982.23 3. kvartal 2011 3 rd Quarter

19. 19 Income Statement 1 OCT – 30 SEP (mill. NOK) 20112010 Operating revenues2,773.9100.0%2,855.2100.0% Materials691.824.9%656.523.0% Salaries and social costs778.228.1%770.927.0% Other operating expenses760.427.4%735.925.8% Depreciation123.04.4%113.44.0% Total operating costs2,353.484.8%2,276.779.8% Operating result420.515.2%578.620.2% Net financial income/expenses Profit/loss currency exchange 1.6 4.1 0.0% 0.2% 1.1 -7.4 0.0% -0.2% Ordinary result before taxes426.215.4%572.320.0% Calculated taxes ordinary result-122.5-4.5%-168.8-5.9% Ordinary result after taxes303.710.9%403.514.1% EPS8.2510.96 3. kvartal 2011 3 rd Quarter

20. 20 Balance Sheet (mill. NOK) Q3/11 H1/11 Year end 2010 Total Long Term Assets980.9984.1961.8 Inventories289.4318.7297.5 Trade Debtors441.8408.3338.0 Other Current Assets52.948.935.9 Value of forward contracts146.6225.3190.8 Cash and Bank Deposits146.846.9441.3 Total Current Assets1,076.51,048.11,303.5 TOTAL ASSETS2,057.42,032.22,265.3 Total Equity1,588.51,560.11,744.6 Provisions, commitments, deferred tax57.775.675.1 Trade Creditors101.3108.188.0 Taxes, VAT and national insurance Value of forward contracts 112.2 0.0 99.8 0.0 145.1 0.0 Short Term Liabilities - bank0.0 Other current liabilities197.7188.6212.5 Total Liabilities468.9472.1520.7 TOTAL EQUITY AND LIABILITIES2,057.42,032.22,265.3 3. kvartal 2011 3 rd Quarter

21. 21 Balance Sheet (mill. NOK) Q3/11Q3/10 Total Long Term Assets980.9951.3 Inventories289.4289.1 Trade Debtors441.8421.2 Other Current Assets52.939.6 Value of forward contracts146.6161.7 Cash and Bank Deposits146.8295.5 Total Current Assets1,076.51,207.1 TOTAL ASSETS2,057.42,158.4 Total Equity1,588.51,626.2 Provisions and Commitments57.769.9 Trade Creditors101.3105.8 Taxes, VAT and national insurance Short term liabilities - bank 112.2 0.0 126.9 0.0 Other current liabilities197.7229.6 Total Liabilities468.9532.2 TOTAL EQUITY AND LIABILITIES2,057.42,158.4 3. kvartal 2011 3 rd Quarter

22. 22 Development in cash-flow and bank deposits (Mill.NOK) 3. kvartal 2011 3 rd Quarter

23. 23 Development in Total Capital, Net-working Capital and Equity (mill. NOK) 3. kvartal 2011 3 rd Quarter

24. 24 Working Capital (mill. NOK) Q3 2011Q3 20102010 Total Assets 2,057.42,158.42,265.3 Trade debtors 441.8421.2338.1 Inventory Raw materials144.3118.9122.9 Semi-manufactured34.929.632.4 Finished110.2140.6142.2 Total 289.4289.1297.5 3. kvartal 2011 3 rd Quarter

25. Order Influx – % Change 2010 to 2011 (in local currency) 3. kvartal 2011 3 rd Quarter

26. 26 Development in Operating Revenue per market – Year to date (Mill.NOK) 3. kvartal 2011 3 rd Quarter

27. 27 Operating revenue per market - Individual quarter (Mill. NOK) 3. kvartal 2011 3 rd Quarter

28. 28 Operating revenue per market (Mill. NOK) 3. kvartal 2011 3 rd Quarter

29. 29 Financial Calendar 2012: 14 February : Announcement of preliminary figures 2011 and Q4 -2011 15 February : Presentation of Q4/11 figures with webcast 10 May : Announcement of Q1/12 figures 11 May : Ordinary General Assembly 12 May : Presentation of Q1/12 15 August : Announcement of Q2/12 figures 16 August : Presentation of Q2/12 with webcast 14 November: Announcement of Q3/12 figures 17 November: Presentation of Q3/12 All presentations are held in Oslo, at Hotel Continental. (08.00 a.m.) 3. kvartal 2011 3 rd Quarter

30. 30 Questions? 3. kvartal 2011 3 rd Quarter

31. 31 Largest shareholders (01.11.2011) 3. kvartal 2011 3 rd Quarter

32. 32 Board of DirectorsGroup Management IR-Contacts 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 3. kvartal 2011 3 rd Quarter