Cambi ASA — Investor Presentation 2021

Aug 31, 2021

31 August 2021 Eirik Fadnes, CEO Cambi Group

Disclaimer

This Presentation is strictly confidential and may not be reproduced or distributed, in whole or in part, to any other person. This Presentation is for information purposes only, and it is expressly noted that no representation or warranty, expressed or implied, as to the accuracy or completeness of any information included herein is given by the CAMBI ASA and that no information, including projections, estimates, targets and opinions, contained in this Presentation is or can be relied upon as a promise or representation by CAMBI ASA.

This Presentation contains information obtained from third parties. Such information has been accurately reproduced and, as far as CAMBI ASA is aware and able to ascertain from the information published by that third party, no facts have been omitted that would render the reproduced information to be inaccurate or misleading. While all steps have been taken to ensure the accuracy of this Presentation, CAMBI ASA does not accept any responsibility for any errors or resulting loss or damage whatsoever caused and readers have the responsibility to thoroughly check these aspects for themselves. Enquiries about reproduction of content from this publication should be directed to CAMBI ASA.

This Presentation contains forward-looking statements that relate to the current plans, objectives, forecasts and estimates of CAMBI ASA. These statements only take into account information that was available up to and including the date that this Presentation was prepared. CAMBI ASA makes no guarantee that these forward-looking statements will prove to be right. The future development of CAMBI ASA and its subsidiaries and the results that are actually achieved are subject to a variety of risks and uncertainties which could cause actual events or results to differ significantly from those reflected in the forward-looking statements. Many of these factors are beyond the control of CAMBI ASA and its subsidiaries and therefore cannot be precisely predicted.

Q2 2021 | Revenue, EBITDA and pipeline growth

• Revenue growth across all segments
• EBITDA margin expansion of 970 basis points (bps) to 17.1%
• Order intake down 56%
• Order backlog up 3% at constant currency*

*Based on constant currency using 2020 foreign exchange rates

Numbers are in million NOK

Q2 2021 | Order intake down 56%

Fewer projects awarded in the market

Warsaw, Poland

This is Cambi's first project with this thermal hydrolysis configuration, set to maximise biogas production and biosolids dewatering, reducing energy, transportation, and incineration costs.

Trondheim, Norway

Grønn Vekst was awarded a contract for handling and composting garden waste in Trondheim. Firm duration of 18 months, with two options for one-year extensions.

Jarocin, Poland

This is Cambi's fourth project in Poland, strengthening the company's position as a leader in sustainable sewage sludge treatment in this market.

Q2 2021 | Revenue growth across all segments

Revenue development by segment | Q2 2021 vs. Q2 2020 | Million NOK

Q2 2021 | EBITDA growth due to scalability

EBITDA growth | Q2 2021 vs. Q2 2020 | Million NOK

H1 2021 | Order backlog up 7.3% from 4Q20

• Revenue growth of 41%
• EBITDA margin expansion before non-recurring items of 545 bps to 11.7%
• Order intake down 34%
• Order backlog up 3% at constant currency*

Numbers are in million NOK

H1 2021 | Equipment driving revenue growth

Revenue development by segment | H1 2021 vs. H1 2020 | Million NOK

H1 2021 | Revenue mix and challenging weather lowering GM %

EBITDA growth | H1 2021 vs. H1 2020 | Million NOK

Backlog distribution

June 2021

86% 14% Backog by segment

Cambi Group Cambi Invest

Backlog distribution

Numbers are in million NOK

Backlog by currency

Cambi holds a solid financial position

Assets
		-	-

		Q2	Year
	2021
	Q2	Q2
			2020

Outlook

• Revenue estimated between 480 and 510 million
• NOK 47 million in spare parts sales, soil sales and new equipment contracts during the second half-year to reach lower end of the range
• EBITDA margin estimated between 12 and 14 per cent

Thank you

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