1. NORDIC VLSI ASA Q3 - 2003 PRESENTATION Svenn-Tore Larsen CEO 16. October, 2003

2. - 1 - Investor Presentation 16-10-2003 AGENDA Financial Update Sales Update Product Division Status

3. - 2 - Investor Presentation 16-10-2003 MAIN SHAREHOLDERS Odin-fondene9% Delphi-fondene (1) 8% Nordea-fondene8% Inak AS8% Ferd Invest7% Firstnordic-fondene5% Nordea Securities (market making) 5% Arne Græe5% Velox4% Employees5% Board members9% Stock options to employees11% (1): Still reporting Delphi and Storebrand separately

4. - 3 - Investor Presentation 16-10-2003 PROFIT AND LOSS ACCOUNT MNOK Sales Standard components Sales System on Chip Projects Components Sales Data Converter IP Other operating revenue Total operating revenue Cost of goods sold Direct project costs Personnel expenses Depreciation Other operating expenses EBIT Net financial items EBT Q3, 2003 7,2 7,9 10,1 3,5 0,0 28,7 11,0 1,1 10,0 1.2 8,8 -3,4 0,4 -3,0 Q3, 2002 4,6 14,1 3,8 3,4 0.0 25,9 5,1 7,6 13,1 1,4 6,9 -8,2 0,0 -8,2 2002 6.9 56.6 28.4 13.2 0.1 105.2 25.3 13.8 52.3 7,0 28.9 -22.1 6,7 -15.4 Change Q3-Q3 57% -44% 165% 3% - 11% 116% -85% -24% -14% 28% 58% 63% 16.2 41.5 24.5 9.0 0.1 91,3 22.5 17.6 52,4 5,9 28.0 -35.1 2,1 -33,0 2001

5. - 4 - Investor Presentation 16-10-2003 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 MNOKQ3, 2003 33,2 14,6 18,2 6,0 23,1 95,1 80,1 2,0 13,0 95,1 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 16-10-2003 REVENUE SIGNIFICANTLY INCREASED AND LOSS REDUCED Quarterly Operating Income And Earnings MNOK Operating income Earnings before taxes

7. - 6 - Investor Presentation 16-10-2003 AGENDA Financial Update Sales Update Product Division Status

8. - 7 - Investor Presentation 16-10-2003 STABLE GROWTH SINCE FEBRUARY Semiconductor Market Source:World Semiconductor Trade Statistics Monthly WW Semiconductor Sales (BUSD)

9. - 8 - Investor Presentation 16-10-2003 MAINTAINED BACKLOG WITH INCREASE IN REVENUE Quarterly Operating Income, Booking And Backlog MNOK

10. - 9 - Investor Presentation 16-10-2003 COMPONENT BUSINESS MORE THAN 50% OF REVENUE Revenue Split 2001-2003 (1) SoC Projects excluding components sold (1)

11. - 10 - Investor Presentation 16-10-2003 SIGNIFICANT AND SUSTAINABLE GROWTH IN REVENUE Summary of Financial Status Strong growth in revenue in a traditionally slow quarter. Quarter to Quarter growth 42% Significant increase in component business, growth 50% Growth will continue, and we still expect to be profitable in Q4 Operating loss reduced to 3 MNOK Loss due to continued R&D efforts, 8.2 MNOK New product family will be launched this fall Backlog flat over quarter Book/Bill: 0.95 Low book to bill due to fulfillment of orders related to “ghost project.”

12. - 11 - Investor Presentation 16-10-2003 AGENDA Financial Update Sales Update Product Division Status

13. - 12 - Investor Presentation 16-10-2003 CONTINOUS GROWTH IN RF COMPONENTS Standard Components Status 44% growth from Q2 High design-in activity for new products Existing revenues and growth still mainly coming from “old” products Shipped ~500 nRF2401 and nRF24E1 Evkits 150 kits shipped this quarter Full production of nRF2401, nRF24E1 and nRF24E2 and nRF2402 First volume orders shipped Major design wins are entering into final qualifications Revenue expectations from Q1/Q2 -04 Strong interest in the nRF24XX family specially in Consumer Electronics segment We expect revenue growth to be fuelled by this segment

14. - 13 - Investor Presentation 16-10-2003 TECHNICAL SUPPORT ACTIVITY INCREASING nRF24XX Support Questions Support Activity nRF24E1 Launch

15. - 14 - Investor Presentation 16-10-2003 HIGHER ACTIVTY OF CUSTOMER PROJECTS SoC Project Status Booked and started one new major project, several small and extensions No external NRE charges this quarter Expect higher revenues for Q4 All resources utilized Signed new large project with Nera Satcom

16. - 15 - Investor Presentation 16-10-2003 EXCELLENT QUARTER FOR SOC COMPONENTS SoC Components Status Revenue growth 200% over last quarter Started to ship components to two previous “ghost projects” Will maintain revenue level for Q4 SoC Components are becoming a significant contribution to Nordic VLSI result

17. - 16 - Investor Presentation 16-10-2003 GOOD QUARTER FOR DATA CONVERTERS IP Data Converter Status 2 new contracts signed this quarter Revenue will increase in Q4 IP business is high margin and contributes solidly to bottom line

18. - 17 - Investor Presentation 16-10-2003 NORDIC HAS BECOME A SEMICONDUCTOR COMPANY Summary Shipments of components now account for more than 50% of total revenue Lower risk, higher predictability and repeatable business Component business is scalable and Nordic VLSI needs low investment to grow the business further Revenue growth was 42% compared with 2nd Quarter Established a solid revenue base Growth will continue, and we still expect to be profitable in Q4 Nordic VLSI recognized as the leading vendor of 2.4GHz ISM band devices Major design wins entering into final qualification Revenues from Q1/Q2-04