1. 1 EKORNES ASA 3 rd QUARTER 2010 3. kvartal 2010 3 rd Quarter

2. 22 Ekornes 3Q-2010 - Headlines: Solid figures – strong growth in revenues (+14%) and profit Q3 - revenues up but margin and profit down compared to same period 2009. Inventory movements (finished goods), product mix and raw material prices important drivers. EBIT MNOK 421.6 (2009: MNOK 334.2). EBT MNOK 413.3 (2009: MNOK 294.4). Employee bonus: NOK 31.5 mill. - up NOK 13 mill.. In Q3 : NOK 10.5 mill.– up NOK 4.0 mill. Q3 - higher capacity, but partly used for inventory build up (NOK +10 mill), mainly USA. Opposite in Q3-2009 (NOK – 33 mill). In general, furniture markets still challenging and uncertain. Signs of improvement in some markets. Indications of slow down in Norway. Order income - down 3%. Q3 down 13%. USA - Ekornes seeing temporary slowdown in order income in Q3, however October picking up again. Europe - Norway down 17%. (Q3 down 19%). Except Norway and Denmark, increased order income in all other European markets, also in Q3. Production capacity – Stressless® up 20 - 25 %. Seven days of production more in 2010. Seats per day up (1,823 seats/1,522 seats). Current capacity approx. 1,750 seats (depending on prod.mix). Stressless® sofa up – Ekornes® Collection down. Svane® – Norway slowing down – revenues unchanged. Sweden and Finland improving. Order income in par with capacity. Order book down as anticipated, however at a good level. 3. kvartal 2010 3 rd Quarter

3. 33 Development in Operating Revenue: 3. kvartal 2010 3 rd Quarter

4. 44 Development in Operating Revenue 3. kvartal 2010 3 rd Quarter

5. 55 Operating revenues by product area – Year to date Q3 ( Mill.NOK) 3. kvartal 2010 3 rd Quarter

6. 66 Operating revenues by product area – Q3 ( Mill.NOK) 3. kvartal 2010 3 rd Quarter

7. 77 Operating revenues: Stressless® - Year to date Q3 (Mill. NOK) 3. kvartal 2010 3 rd Quarter

8. 88 Operating revenues: Stressless® - Q3 (Mill. NOK) 3. kvartal 2010 3 rd Quarter

9. 99 Operating revenues: Product area Sofas – Year to date Q3 ( NOK mill.) 3. kvartal 2010 3 rd Quarter

10. 10 Operating revenues: Product area Sofas – Q3 ( NOK mill.) 3. kvartal 2010 3 rd Quarter

11. 11 Contribution margin by product area 3. kvartal 2010 3 rd Quarter

12. 12 Development in direct costs 3. kvartal 2010 3 rd Quarter

13. 13 Development in direct salaries at the factories (Based on factory revenues, year-end bonus not included) 3. kvartal 2010 3 rd Quarter

14. 14 Contribution and operating margin (EBIT) 3. kvartal 2010 3 rd Quarter

15. 15 Development in Operating result (EBIT) and Pre-tax margin (EBT): 3. kvartal 2010 3 rd Quarter

16. 16 Development in Operating result (EBIT) and Pre-tax margin (EBT): 3. kvartal 2010 3 rd Quarter

17. 17 Development EPS fully diluted (Figures in NOK) 3. kvartal 2010 3 rd Quarter

18. 18 Income Statement year to date (mill. NOK) 20102009 Operating revenues2,175.8100.0%1,908.5100.0% Materials494.622.7%457.624.0% Salaries and social costs579.426.6%512.126.8% Other operating expenses594.227.3%522.427.4% Depreciation86.04.0%82.24.3% Total operating costs1,754.280.6%1,574.382.5% Operating result421.619.4%334.217.5% Net financial income/expenses Profit/loss currency exchange 0.8 -9.2 0.0% -0.4% -1.3 -38.5 -0.1% -2.0% Ordinary result before taxes413.319.0%294.415.4% Calculated taxes ordinary result-124.0-5.7%-89.8-4.7% Ordinary result after taxes289.313.3%204.610.7% EPS 7.865.56 3. kvartal 2010 3 rd Quarter

19. 19 Income Statement individual quarter (mill. NOK) Q3/10Q3/09 Operating revenues673.2100.0%645.4100.0% Materials152.122.6%147.822.9% Salaries and social costs179.526.7%153.623.8% Other operating expenses182.127.1%169.826.3% Depreciation29.24.3%27.74.3% Total operating costs542.980.6%498.977.3% Operating result130.319.4%146.522.7% Net financial income/expenses Profit/loss currency exchange -0.1 -12.9 -0.0% -1.9% -0.3 -23.1 -0.0% -3.6% Ordinary result before taxes117.317.4%123.119.1% Calculated taxes ordinary result-35.2-5.2%-37.6-5.8% Ordinary result after taxes82.112.2%85.513.3% EPS2.232.33 3. kvartal 2010 3 rd Quarter

20. 20 Income Statement 1 OCT – 30 SEP (mill. NOK) 20102009 Operating revenues2,855.2100.0%2,653.5100.0% Materials656.523.0%652.924.6% Salaries and social costs762.426.7%624.423.5% Other operating expenses735.925.8%768.128.9% Depreciation113.44.0%124.24.7% Total operating costs2,268.279.5%2,169.681.8% Operating result587.120.5%483.918.2% Net financial income/expenses Profit/loss currency exchange 1.1 -7.4 0.0% -0.2% -0.6 -15.2 0.0% -0.6% Ordinary result before taxes580.820.3%468.117.6% Calculated taxes ordinary result-171.36.0%-140.65.3% Ordinary result after taxes409.514.3%327.512.3% EPS11.128.89 3. kvartal 2010 3 rd Quarter

21. 21 Balance Sheet (mill. NOK) Q3/10H1/10 Total Long Term Assets951.3960.8 Inventories289.1291.9 Trade Debtors421.2452.1 Other Current Assets39.655.1 Value of forward contracts161.798.2 Cash and Bank Deposits295.5166.2 Total Current Assets1,207.11,063.5 TOTAL ASSETS2,158.42,024.3 Total Equity1,632.21,512.3 Provisions, commitments, deferred tax69.954.8 Trade Creditors105.8133.0 Taxes, VAT and national insurance Value of forward contracts 129.4 0.0 139.0 0.0 Short Term Liabilities - bank0.0 Other current liabilities221.1185.2 Total Liabilities526.2512.0 TOTAL EQUITY AND LIABILITIES2,158.42,024.3 3. kvartal 2010 3 rd Quarter

22. 22 Balance Sheet (mill. NOK) Q3/10Q3/09 Total Long Term Assets951.3949.3 Inventories289.1224.6 Trade Debtors421.2356.2 Other Current Assets39.637.8 Value of forward contracts161.757.7 Cash and Bank Deposits295.5160.8 Total Current Assets1,207.1837.1 TOTAL ASSETS2,158.41,786.4 Total Equity1,632.21,410.9 Provisions and Commitments69.945.0 Trade Creditors129.496.2 Taxes, VAT and national insurance105.894.8 Value of forward contracts Short term liabilities - bank 0.0 Other current liabilities221.1139.5 Total Liabilities526.2375.5 TOTAL EQUITY AND LIABILITIES2,158.41,786.4 3. kvartal 2010 3 rd Quarter

23. 23 EQUITY Q3/10Q3/092009 Result after taxes and before other comprehensive income 289.3204.6324.7 Other comprehensiv income: Actuarial gains on defined benefit plans-8.4 Change in deferred tax – pensions3.3 Change in value cash-flow hedging38.2354.7420.5 Change in deferred tax – cash flow hedging-10.7-99.3-117.7 Translation differences0.10.5 Translation differences – net financing subsidiaries5.5-33.0-37.1 Change in deferred tax – net financing subsidiaries-1.59.210.4 Total other comprehensive income30.5231.7270.6 Total comprehensive income319.8436.3595.3 Equity at the beginning of the period1,570.01,103.5 Total comprehensive income319.8436.3595.3 Dividend paid out-257.6-128.9-128.8 Equity at the end og the period1,632.21,410.91,570.0 3. kvartal 2010 3 rd Quarter

24. 24 Development in cash-flow and bank deposits (Mill.NOK) 3. kvartal 2010 3 rd Quarter

25. 25 Development in Total Capital, Net-working Capital and Equity (mill. NOK) 3. kvartal 2010 3 rd Quarter

26. 26 Working Capital (mill. NOK) Q3 2010Q3 20092009 Total Assets 2,158.41,786.42,047.0 Trade debtors 421.2356.2313.1 Inventory Raw materials118.998.8113.0 Semi-manufactured29.634.328.7 Finished140.691.6101.8 Total 289.1224.6243.5 3. kvartal 2010 3 rd Quarter

27. 27 Development in Operating Revenue per market – Year to date (Mill.NOK) 3. kvartal 2010 3 rd Quarter

28. 28 Operating revenue per market - Individual quarter (Mill. NOK) 3. kvartal 2010 3 rd Quarter

29. Order Influx – % Change 2009 to 2010 (in local currency) ( Asia/Pacific – Accumulaterd figures not comparable) 3. kvartal 2010 3 rd Quarter

30. 30 Operating revenue per market (Mill. NOK) 3. kvartal 2010 3 rd Quarter

31. 31 Financial Calendar 2011: 15 February : Announcement of preliminary figures 2010 and Q4 -2010 16 February : Presentation of Q4/10 figures with webcast 12 May : Announcement of Q1/11 figures 12 May : Ordinary General Assembly 13 May : Presentation of Q1/11 15 August : Announcement of Q2/11 figures 16 August : Presentation of Q2/11 with webcast 15 November: Announcement of Q3/11 figures 16 November: Presentation of Q3/11 All presentations are held in Oslo, at Hotel Continental. (08.00 a.m.) 3. kvartal 2010 3 rd Quarter

32. 32 Questions? 3. kvartal 2010 3 rd Quarter

33. 33 Largest shareholders (30.09.2010) 1.Nordstjernan ABSWE15.45% 2.FolketrygdfondetNOR10.16% 3.State Street BankUSA6.33% 4.Orkla ASANOR5.85% 5.JP Morgan Chase Bank, Nordea GBR5.58% 6.Pareto Aksje NorgeNOR4.30% 7.JP Morgan Chase Bank, Special GBR3.85% 8.Handelsbanken HelsinkiFIN3.08% 9.Berit Ekornes UnhjemNOR2.89% 10.JP Morgan Chase Bank, Treaty GBR2.77% Other shareholders approx. 2,545 39.75% By 30 September - Proportion: Norwegian shareholders50.98% Foreign shareholders49.02% 3. kvartal 2010 3 rd Quarter

34. 34 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 Ragnhild Apelseth 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 2010 3 rd Quarter