1. 1 EKORNES ASA 2011 – Q1 1. kvartal 2011 1 st Quarter

2. 22 Ekornes Q1 - Headlines: 1. kvartal 2011 1 st Quarter Ekornes presenting solid figures, although weaker than Q1/10 EBIT MNOK 134,2 (Q1/10: MNOK 146.9) EBT MNOK 130,9 (Q1/10: MNOK 145.7) Operating revenues unchanged. Stressless® up. Better development in Stressless® chair than Stressless® sofa. Ekornes®Collection and Svane® down. In general, market still challenging and uncertain. Signs of improvement in the USA. Order income down 2%. Up 1% using fixed exchange rates. Production – Stressless® 1,831 seats per day compared to 1,748 LY. Production capacity also in Q2 planned at approx. 1,750-1,800 seats (equal to LY). Svane® – Finland up, however Norway, Sweden and Denmark down. Order income April down 10%. Order book at a normal level for the season. Full capacity utilisation expected in Q2. Foreign exchange position good. Raw material prices increasing.

3. 33 Development in Operating Revenue 1. kvartal 2011 1 st Quarter

4. 4 Development in Operating Revenue 1. kvartal 2011 1 st Quarter

5. 55 Operating revenues: Product area Stressless® (Mill. NOK) 1. kvartal 2011 1 st Quarter

6. 66 Operating revenues by product area ( Mill.NOK) 1. kvartal 2011 1 st Quarter

7. 77 2011 Operating revenues: Product area Sofas ( NOK mill.) 1. kvartal 1 st Quarter

8. 88 Contribution margin by product area 1. kvartal 2011 1 st Quarter

9. 99 Development in direct costs 1. kvartal 2011 1 st Quarter

10. 10 Contribution and operating margin (EBIT) 1. kvartal 2011 1 st Quarter

11. 11 1. kvartal 2011 1 st Quarter Development in Operating result (EBIT) and Pre-tax margin (EBT):

12. 12 Development EPS fully diluted (Figures in NOK) 1. kvartal 2011 1 st Quarter

13. 13 Income Statement (mill. NOK) 1. kvartal 2011 1 st Quarter Q1/11Q1/10 Operating revenues783.5100.0%785.7100.0% Materials193.324.7%188.824.0% Salaries and social costs209.726.8%200.225.5% Other operating expenses216.727.7%221.728.2% Depreciation29.63.8%28.13.6% Total operating costs649.382.9%638.881.3% Operating result134.217.1%146.918.7% Net financial income/expenses Profit/loss currency exchange +1.4 - 4.7 +0.2% -0.6% +0.6 -1.8 +0.1% -0.3% Ordinary result before taxes130.916.7%145.718.5% Calculated taxes ordinary result-39.3-5.0%-43.7-5.5% Ordinary result after taxes91.611.7%102.013.0% EPS2.492.77

14. 14 Income Statement 1 April - 31 March (mill. NOK) 1. kvartal 2011 1 st Quarter 10/1109/10 Operating revenues2,866.6100.0%2,678.4100.0% Materials667.623.3%621.023.2% Salaries and social costs784.427.4%712.426.6% Other operating expenses775.327.0%696.126.0% Depreciation118.04.1%110.44.1% Total operating costs2,345.381.8%2,139.879.9% Operating result521.318.2%538.620.1% Net financial income/expenses Profit/loss currency exchange +2.3 -2.1 +0.1% -0.1% -0.2 -18.0 -0.0% -0.7% Ordinary result before taxes521.518.2%520.419.4% Calculated taxes ordinary result-151.1-5.3%-154.3-5.7% Ordinary result after taxes370.412.9%366.113.7% EPS10.069.94

15. 15 Balance Sheet (mill. NOK) 1. kvartal 2011 1 st Quarter Q1/11Q1/10 Total Long Term Assets953.8949.5 Inventories295.9241.0 Trade Debtors442.3482.1 Other Current Assets41.949.9 Value of forward contracts209.0161.4 Cash and Bank Deposits433.3397.3 Total Current Assets1,422.41,331.7 TOTAL ASSETS2,376.22,281.2 Total Equity1,844.51,701.3 Provisions, commitments, deferred tax72.367.2 Trade Creditors128.8136.1 Taxes, VAT and national insurance Value of forward contracts 139.9 0 121.4 0 Bank loans00 Other current liabilities190.7255.2 Total Liabilities459.4512.7 TOTAL EQUITY AND LIABILITIES2,376.22,281.2

16. 16 Q1/11Q4/10 Total Fixed Assets953.8961.8 Inventory295.9297.5 Trade Debtors442.3338.0 Other Current Assets41.935.9 Value of forward contracts Cash and Bank Deposits 209.0 433.3 190.8 441.3 Total Current Assets1,422.41,303.5 TOTAL ASSETS2,376.22,265.3 Total Equity1,844.51,744.6 Provisions, commitments, deferred tax72.375.1 Trade Creditors128.888.0 Taxes, VAT and national insurance Value of forward contracts 139.9 0 145.1 0 Bank loans00 Other current liabilities190.7212.5 Total Liabilities459.4445.6 TOTAL EQUITY AND LIABILITIES2,376.22,265.3 Balance Sheet (mill. NOK) 1. kvartal 2011 1 st Quarter

17. 17 Development in cash-flow and bank deposits (Mill.NOK) 1. kvartal 2011 1 st Quarter

18. 18 Development in Total Capital, Net-working Capital and Equity (mill. NOK) 1. kvartal 2011 1 st Quarter

19. 19 Operating revenue per market (Mill. NOK) 1. kvartal 2011 1 st Quarter

20. 20 Change in order influx per market (%) (in local currency) 2011

21. 21 Operating revenues per market (Mill. NOK) 1. kvartal 2011 1 st Quarter

22. 22 Coming events: 15 August 2011: Announcement of Q2/11 figures 16 August 2011: Presentation of Q2/11 figures 15 November 2011: Announcement of Q3/11 figures 16 November 2011: Presentation of Q3/11 figures 1. kvartal 2011 1 st Quarter

23. 23 Questions? 1. kvartal 2011 1 st Quarter

24. 24 Largest shareholders (11.05.2011) 1.Nordstjernan ABSWE 15.45% 2.FolketrygdfondetNOR 10.58% 3.Orkla ASANOR5.82% 4.Smallcap World FundUSA5,48% 5.Capital Income BuildUSA5,38% 6.Pareto Aksje NorgeNOR4.42% 7.JPMorgan, Special Treaty ACGBR4.12% 8.Unhjem,Berit Vigdis EkornesNOR2.91% 9.JPMorgan, Treaty AC GBR 2.77% 10.Pareto AktivNOR2.07% Other shareholders approx. 2,417 41,0% Proportion:Norwegian shareholders 53.9% Non-Norwegian shareholders 46.1% 1. kvartal 2011 1 st Quarter

25. 25 Board of DirectorsGroup Management Olav Kjell Holtan – Chairman Kjersti Kleven – Vice Chairman Gry Hege Sølsnes Stian Ekornes Nora Förisdal Larssen Employee Representatives: Arnstein Johannesen Tone Helen Hanken Edvin Haugen 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 1. kvartal 2011 1 st Quarter