1. NORDIC VLSI ASA Q4 - 2003 PRESENTATION Svenn-Tore Larsen CEO 12. Februar, 2004

2. - 1 - Investor Presentation 12-02-2004 AGENDA Financial Update Sales Update Product Division Status

3. - 2 - Investor Presentation 12-02-2004 MAIN SHAREHOLDERS/STOCK OPTIONS Odin-fondene9,3% Delphi-fondene (1) 8,0% Nordea-fondene7,7% Ferd Invest6,7% Inak AS6,6% Firstnordic-fondene5,1% Edvin Austbø5,0% Arne Græe4,9% Velox4,3% Employees5,5% Board members9,1% Stock options to board members2,6% Stock options to CEO2,6% Stock options to employees11,0% (1): Still reporting Delphi and Storebrand separately

4. - 3 - Investor Presentation 12-02-2004 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 Depreciation Other operating expenses EBIT Net financial items EBT Q4, 2003 9,8 6,2 13,8 6,2 0,0 36,0 10,5 2,9 13,0 1.1 5,0 2,5 -0,2 2,3 Q4, 2002 4,6 6,7 7,9 1,5 0.0 20,7 7,3 1,6 13,6 1,8 7,6 -11,2 0,8 -10,4 2003 16,2 24,5 41,5 9,0 0.1 91,3 22,5 17,6 52.4 5,9 28.0 -35,1 2,0 -33,0 Change Q4-Q4 113% -7% 75% x 4,1 - 74% 11% 81% -4% -39% -34% - 28,0 24,1 39,5 18,5 0.0 110,1 34,2 8,8 47,3 5,0 29,5 -14,7 1,8 -12,9 2002

5. - 4 - Investor Presentation 12-02-2004 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 MNOK2003 32,7 15,3 18,7 2,0 37,1 105,8 83,1 2,0 20,7 105,8 2002 32.8 11.6 13.2 4.8 53.6 116.0 91.6 2.0 22.4 116.0 2001 21.5 7.7 16.5 32.1 80.2 133.8 115.8 2.0 16.0 133.8

6. - 5 - Investor Presentation 12-02-2004 STRONG GROWTH IN REVENUE AND POSITIVE RESULT Quarterly Operating Income And Earnings MNOK Operating income Earnings before taxes

7. - 6 - Investor Presentation 12-02-2004 AGENDA Financial Update Sales Update Product Division Status

8. - 7 - Investor Presentation 12-02-2004 OVERALL MARKET GROWTH STRONGER Semiconductor Market Source:World Semiconductor Trade Statistics Monthly WW Semiconductor Sales (BUSD)

9. - 8 - Investor Presentation 12-02-2004 RECORD REVENUE, BOOKING AND BACKLOG Quarterly Operating Income, Booking And Backlog MNOK

10. - 9 - Investor Presentation 12-02-2004 COMPONENTS AND IP BUSINESS OUR BACKBONE Revenue Split 2001-2003 (1) SoC Projects excluding components sold (1)

11. - 10 - Investor Presentation 12-02-2004 FOURTH QUARTER POSITIVE RESULT AS PROMISED Summary of Financial Status Strong quarter with record revenues and solid bottom line Record revenue of 36 MNOK Quarter to quarter growth of 25% 2.5 MNOK in profits, 7% of turnover With record turnover, new booking result in record backlog Backlog is 65 MNOK, up 25% over last quarter Book/Bill : 1.45 Book/Bill for standard components : 1.88 There is uncertainty whether Nordic shall expense the tax liability for the employee stock option program. The employees themselves are individually liable for all taxes related to their stock options. Nevertheless, there is a possibility that Nordic must expense these taxes. This will not have a cash flow impact on our business. Nordic VLSI is currently awaiting feedback from Oslo Stock Exchange. Possible impact will be 3.7MNOK

12. - 11 - Investor Presentation 12-02-2004 AGENDA Financial Update Sales Update Product Division Status

13. - 12 - Investor Presentation 12-02-2004 CONTINOUS GROWTH IN RF COMPONENTS Standard Components Status Continued strong quarterly growth: Q3-Q4 growth; 34% Historical high booking 18.4MNOK Booking Book/Bill: 1.88 Accelerated design-in activity for new products Fast rampup of new products 35% of revenue coming from new products available since April Beat earlier expectations,“Revenue expectations from Q1/Q2 -04”: Investor pres. Oct. 2003 New development on track Launched nRF9E5 and nRF905 first week of February Working with major consumer companies for next generation devices Launching new “Green” packaging technology to satisfy demands from leading consumer customers

14. - 13 - Investor Presentation 12-02-2004 OUR NEW 2.4GHZ PRODUCTS ARE CONTRIBUTING FAST Revenue Split Q2-Q4 2003 Revenue from Standard Components (MNOK)

15. - 14 - Investor Presentation 12-02-2004 MARKETS MOST COMPLETE LONG RANGE COMPONENTS LAUNCHED Introducing the nRF9E5 and the nRF905 World Leading Features System-on-Chip 0.18µm CMOS 433/868/915 MHz transceiver Microcontroller 9 channel 12 bit-ADC ShockBurst On-chip voltage regulators Digital I/ UART's SPI RC Oscillator Watchdog “Congratulations and great success to the Nordic Team with this excellent product. I'm convinced it will leave the competition in the dust!!! Best regards, Jerome (Unique)”

16. - 15 - Investor Presentation 12-02-2004 SPEARHEADING INTO THE INDUSTRIAL MARKET Applications Mouse/keyboard Joystick/gamepad Intelligent sports equipment Headset Audio nRF24XX Family nRF24XX Perfect fit for the Consumer applications Applications RF ID and Point of Sale Remote Meter reading Building Automation Industrial Automation Security nRF9X5 Family nRF9X5 Perfect fit for the Industrial applications

17. - 16 - Investor Presentation 12-02-2004 HIGHER ACTIVTY OF CUSTOMER PROJECTS SoC Project Status Good coverage in project department Key target customers Future component revenues Established a customer base in line with company strategy Exciting prospects in pipeline All projects on track Increased efficiency in development

18. - 17 - Investor Presentation 12-02-2004 GOOD QUARTER FOR SOC COMPONENTS SoC Components Status Steady turnover No new components into volume Will release a number of new components for volume production during 2004 Expect growth to start next quarter Finalized deal with Philips Semiconductor for the sale of the production rights for a Wireless LAN baseband device

19. - 18 - Investor Presentation 12-02-2004 RECORD QUARTER FOR DATA CONVERTERS IP Data Converter Status Record quarter with quarterly revenue of 6.2MNOK Booking of 15.2 MNOK Book/Bill: 2.45 New customers signed up for newly developed products Result of strong investment into Product Development and Sales

20. - 19 - Investor Presentation 12-02-2004 NORDIC IS MAKING MONEY AGAIN Summary Revenue growth was 25% compared with 3rd Quarter Enhanced a solid revenue base Very strong booking, Book/Bill: 1.45 On track to deliver on the promise of becoming a leading semiconductor company Revenue growth Product portfolio growth Quality customer growth No more “who the heck is Nordic” Major competitors fear and recognize our products and position in the market

21. - 20 - Investor Presentation 12-02-2004 NORDIC MANAGEMENT PROPOSE A NEW NAME FOR THE COMPANY We believe that a new name will enhance the understanding of Nordic as a semiconductor vendor Statement for our customer, suppliers and employees A new name will be proposed to the annual shareholders meeting in April I seek your support for the new name and profile