Investor Presentation • Feb 28, 2025
Investor Presentation
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NTG Company update 28 February 2025
This presentation (the "Presentation") has been prepared by Nordic Technology Group AS ("NTG" or the "Company" and together with its subsidiaries the "Group") solely for information purposes in connection with the financial reporting requirement to Oslo Stock Exchange Euronext Growth marketplace and subsequent investor presentation. This Presentation does not constitute an offer to sell or a solicitation of an offer to buy, or a recommendation regarding, any securities of the Company. By attending a meeting where this Presentation is made, or by downloading the presentation from any web site, or requesting to receive, or have received this Presentation from any party, you agree to be bound by the following terms, conditions and limitations.
This Presentation and the information contained herein may not be reproduced in whole or in part to any other person.
This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Group and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", "will", "should", "may", "continue" and similar expressions. The forward-looking statements contained in this Presentation, including opinions and views of the Company or cited from third party sources, are based on various assumptions. The forward-looking statements are solely opinions and forecasts and are subject to risks and uncertainties which are difficult or impossible to predict and are beyond the Company's control. Forward-looking statements are not guarantees of future performance, and risks, uncertainties and other factors could cause the actual results of operations, financial condition and liquidity of the Group or the industry to differ materially from the expectations expressed or implied in this Presentation by such forward-looking statements. You are cautioned not to place any undue importance on any forward-looking statement. The Company assumes no obligation, except as required by law, to update any forward-looking statements or to conform these forward-looking statements to its actual results.
The distribution of this Presentation may be restricted by law in certain jurisdictions and persons into whose possession this Presentation comes should inform themselves about, and observe, any such restriction. Any failure to comply with such restrictions may constitute a violation of the laws of any such jurisdiction. None of the Company or the Group shall have any responsibility for any such violations.
This Presentation does not purport to contain a complete description of the Group or the markets in which the Group operates. No representation, warranty or undertaking, express or implied, is made by the Company, the Group or other representatives, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein, for any purpose whatsoever. None of the Company or the Group or any of their respective affiliates or representatives shall have any liability arising directly or indirectly from the use of this Presentation or its contents or otherwise arising in connection with this Presentation.
Any investment or acquiring of shares in the Company should be considered as a high-risk investment. An investment in the Company is only suitable if you have sufficient knowledge, sophistication and experience in financial and business matters to be capable of evaluating the merits and risks of an investment decision relating to the Company's shares, and if you are able to bear the economic risk, and to withstand a complete loss, of your investment. An investment in the Company is suitable only for investors who understand the risk factors associated with this type of investment and who can afford a loss of all or part of their investment. The contents of this Presentation are not to be construed as financial, legal, business, investment, tax or other professional advice. Each recipient should consult with its own financial, legal, business, investment and tax advisers to receive financial, legal, business, investment and tax advice. By receiving this Presentation, you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and are solely responsible for forming your own opinion of the potential future performance of the Company's business. In making an investment decision, investors must rely on their own examination of the Company, including the merits and risks involved.
This presentation is incomplete without reference to and should be viewed solely in conjunction with the verbal briefing provided by the Company´s executive management.
This Presentation does not constitute an offer of, or an invitation to purchase, any of the shares in any jurisdiction in which such offer or sale would be unlawful.
This Presentation is only directed at qualified investors and investment. The Company has not authorized any other person to provide any persons with any other information related to the Company and neither the Company nor the Group will assume any responsibility for any information other persons may provide.
The Company´s executive management and/or Group management and employees may hold shares or other securities or interests in the Company and may, at times, buy or sell such securities.
This Presentation is subject to Norwegian law, and any dispute arising in respect of this Presentation is subject to the exclusive jurisdictions of Norwegian courts.
This presentation covers the period 01.07.25.02.25. The financial statements are unaudited as of the date of this presentation.



Nordic Technology Group AS
| No | ofshares issued |
70 920 680 |
|||||
|---|---|---|---|---|---|---|---|
| NTG % ownership |
NTG Current book value 25.02.25 |
Adjusted 100% value based on NTG book value |
100% Company valuation |
NTGestimated value 25.02.25 |
Comments | Comments • Book value includes |
|
| Company | NTG outstanding | ||||||
| Wavetrain Systems |
77,7 % |
261 540 000 |
336 602 317 |
477 399 000 |
350 501 908 |
Last private placement/conversion of loan |
loans |
| Hammertech | 80,7 % |
215 374 000 |
266 882 280 |
413 014 000 |
327 975 468 |
Last private placement/conversion of loan |
|
| Hystorsys | 100,0 % |
10 000 000 |
10 000 000 |
10 000 000 |
10 000 000 |
Estimated exit value |
|
| MossHydro | 89,9 % |
52 838 000 |
58 774 194 |
35 000 000 |
31 465 000 |
In exit process,final value uncertain |
|
| CondAlign | 50,1 % |
16 000 000 |
31 961 646 |
75 000 000 |
16 000 000 |
Based on indications |
|
| NTG CA-CL |
100,0 % |
4 290 000 |
4 290 000 |
4 290 000 |
4 290 000 |
Current assets-currentliabilities |
|
| Sum NOK |
560 042 000 |
708 510 436 |
1 014 703 000 |
740 232 376 |
|||
| Sum NOK per NTG share |
7,90 | 10,44 | |||||
| Currentshare price 15.02.2023 |
NOK | 0,8 | NOK | 0,8 | |||
| Discount compared to estimatedNTGvalue |
per share |
-90% | -92% |
NTG group presentations: Hammertech AS Wavetrain Systems AS CondAlign AS
28 February 2025
February 28th, 2025


Enhanced recovery, Production Optimization, Digitalization & CO2 reduction



AquaFieldTM Multiphase Fraction & Salinity Meter


| Total potential market | Target market | Core market | ||||
|---|---|---|---|---|---|---|
| 2025 prediction | ||||||
| Market Size | • 84 USDbn |
• 18 USDbn • AquaField assumed to be most applicable |
• 10 USDbn • AquaField assumed to be most applicable and likely to be implemented |
Producing wells 1 610 000 New wells (-->2025) 510 000 Total potential market 2 120 000 Retrofit new gas wells -107 000 |
||
| Market Drivers | • 2.1 million total wells |
• 450,000 wells |
• 251,000 wells |
Retrofit subsea -6 000 Retrofit GoM -16 000 Older onshore wells* -1 345 000 |
||
| End Client Examples (non-exhaustive) |
• All well-operating E&P companies |
• Saudi-Aramco, Petrobras, ExxonMobil, ADNOC, PDO, Majors • Anadarko, Apache, EOG, Pioneer, Devon, XTO, Qatar Petroleum, Occidental, Equinor,ENI, Hilcorp, Bapetco, Norpetco, Qarun, Agiba, |
• Saudi-Aramco, KOC, ADNOC, PDO, Petrobras, ExxonMobil, Majors • Anadarko, Apache, Equinor, Petrobel, Qatar Petroleum, ENI, Qatar Petroleum, Occidenta |
Unconv. (Xtra HO, OS) -201 000 Target market 445 000 Retrofit offshore -51 000 Reluctance smaller Ops -143 000 Core market 251 000 1) Rystad Energy Commercial due diligence report |
Estimated market size of 84 USDbn, with a core market of 10 USDbn


MENA Big 4 currently pursued entry cases:
• Pilot covering 4 main onshore assets: South East, Bu Hasa, BAB & NEB covering approx. 1 000 wells , expected 5-year penetration ~50% Roll out on all wells as part of ADNOC's digital strategy
| Company | Wells | Penetration | AquaFields | USD |
|---|---|---|---|---|
| Aramco Abqaiq | 2 500 | 70% | 1 800 | 72 000 000 |
| ADNOC SE-BH-BAB-NEB | 1 000 | 50% | 500 | 20 000 000 |
| PDO replacements | 1 500 | 30% | 500 | 20 000 000 |
| KOC South Ratqa | 3 000 | 30% | 1 000 | 40 000 000 |
| MENA Big 4 | 8 000 | 45% | 3 800 | 152 000 000 |

Bakersfield will be our entry market to the shale oil domain and will serve as reference as we expand to include other shale oil basins. The Permian basin represents 65% of all onshore wells in the US. Our US partners has established dialogues with several service & operating companies – including EOG, Devon, Summit Oil, and others – regarding AquaField deployment and we have received our first orders from this market for 12 AquaField units, escalating to another 40-80 units in 2025.
A successful rollout in Bakersfield and Permian will be followed by pursuits of the Eagleford and Bakken basins contributing to the sales numbers from 2025 onwards.
Hammertech has established dialogue with several of the large enterprises – including ExxonMobil, Occidental, Chevron, Continental Resources, Shell, ConocoPhillips and others – regarding AquaField deployment. We do believe a successful rollout in the SMB market – addressed through local partners – will serve as a catalyst for business with larger enterprises




11 Confidential
Same technology platform – different applications
Completed In Progress Market potential

Confidential


Technical qualification obtained
A "tsunami of orders" to be expected
Onsite review by Aramco Oversees Company delivered November 12th & 13th with positive remarks and no deviations Awaiting formal approval from Aramco Vendor Review Committee (VRC) in Saudi




Pilot approved by ADNOC's CEO Onshore – Technology in line with ADNOC digitalization strategy
Technical qualification obtained
Field test of two procured AquaField Green meters approved.
Approved Vendor List registration: ADNOC Commercial Directory registration received for Water Cut Meter category!


Successful extensive field testing of first sold and delivered AquaField Gold, Zone-1 meter.

Field verification AquaField Green meter installed on South Ratqa field and test is ongoing. Positive remarks from both KOC and Yokogawa.

Long awaited customer approval for testing AquaField meter given, and test expected to be performed H1 / 2025.

First AquaField Mud meter delivered, and extensive testing positively concluded.
Will receive order for two more meters by March/25, with a potential for up to 5 more meters in 2025.
Measurement First AquaField Gold meter delivered, and testing is ongoing.
Expect to conclude initial order of 10 meters by March/25 with volume agreement for 30 more meters to be agreed for delivery in 2025.

Accuflow is an O&G multiphase flow measurement manufacturer based on separator systems and sees the potential to combine separation with MPFMs. First volume agreement received for delivery of 10 meters in 2025.


Continental Resources is among the top 10 independent oil producers in the U.S. It's the largest producer and leaseholder in the Bakken play (North Dakota and Montana) and also holds major positions in Oklahoma, Wyoming, and Texas.
Continental Resources has invited Hammertech to test its AquaField Gold meter, and test is scheduled to start mid February in North Dakota.

Chevron has invited Hammertech to test its AquaField Gold meter, and test will start in Houston early December. Chevron has recently acquired Hess, and is on the rise both in the US and globally.
First direct potential for AquaField in Nigeria, but also US potential expected to materialize in 2025.

ConocoPhillips has invited Hammertech to test its AquaField Gold meter along with two other vendors, and test is scheduled for July/25 in the US (location not decided). CoP has recently acquired Marathon and is through this acquisition becoming significantly larger in the US. Given successful test result, there is a direct opportunity for 75 meters in 2026.

Cooperation with Baker Hughes within the automated drilling domain utilizing our AquaField Mud meters is continuing. Another initiative – utilizing AquaField Gold meters in fields controlled by BH's Leucipa platform has been initiated, and BH is in the process of ordering 3 more meters for test deployment with existing customer in the US.

Long planned field verification test of AquaField to happen with Sonatrach in Algeria. Test meter has been received and installed.
First identified business with Halliburton for 10 meters in 2025 both in the US and globally.




400 Years Combined Experience From The E&P Industry





Patented Solution for Protecting Level Crossings
1 000 000 Level Crossings Around the World
Investor Presentation | February 2025

Source: https://unece.org/sites/default/files/2022-02/S2.5%20GPotenza_Level%20crossing%20safety_Danube%20Region_ERA.pdf
© Wavetrain Systems 2025. Confidential and not for distribution.
2
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killed in EU
accidents involve pedestrians
3
.
• Patented in more than 20 countries

Cost-effective reduction of risk at level crossings




Broken rails pose significant challenges in the railway industry, impacting safety, operations, and maintenance. Massive challenge in e.g. Australia
• Condition-based monitoring
Damages to trains, e.g. flat wheels, represent a significant challenge in the railway industry due to their impact on safety, predictive maintenance, and operational efficiency


In-house development of core safety applications for the railway market

Selling train detection systems for level crossings, SW & HW
Manufacturing and assembly using certified suppliers
Local contractors or customer to install and maintain according to local requirements
© Wavetrain Systems 2025. Confidential and not for distribution.
6
.

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
Potential market is literally any country operating railroads

Source: Management analysis and management estimates

© Wavetrain Systems 2025. Confidential and not for distribution.
.



© Wavetrain Systems 2025. Confidential and not for distribution.
10
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This document is not a replacement for a full review of the company's books, documents, certificates or accounts and is not a comprehensive review of the company's business. The document is solely made for the purpose of presenting the business plan. Further, document is not, and should not be relied upon as, a legal opinion in relation to any matter referred to in it. This document is confidential and is privileged and otherwise protected by law as business secrets.
February 28th 2025
CONFIDENTIAL







…with a process that is designed for large scale industrial manufacturing






LED



70% fewer particles required to achieve same thermal conductivity
CondAlign TIM have significantly better material properties due to lower particle loading
Significantly reducing weight of materials compared to traditional TIM materials
Production costs significantly reduced due more efficient use of costly particles and cost efficient R2R manufacturing
Reducing processing steps in assembly – no heat and no high pressure steps
Enabling connection of sensitive materials by allowing for assembly that require no heat and no pressure³
Manufacturing process is easily integrated into existing R2R coating lines

TAM (EUR 4.2bn)
SAM (EUR 2.2bn)
SOM (EUR 0.04bn)

Conductive Polymers market



| Pilots in progress |
2 clients | 2 clients | 2 clients | 1 client | 1 client | 1 client | |
|---|---|---|---|---|---|---|---|
| # of clients qualifying/scaling |
+30 | +15 | +15 | +5 | +10 | +15 | |
| Large volume +10 multi billion clients in Testing and Qualification clients in testing |


Other 0.1 0.5 2.2 3.7 4.0 5.4 4.7 5.4 6 19 Total 0.4 1.2 5.4 14.8 23.8 26.5 28.5 38.1 21.8 117.0


Harald Wahl Breivik

Håvard Lien-Kvareng

Arve Austad



Aina Suphellen

Salvatore Micali
CONFIDENTIAL
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