Goodtech — Investor Presentation 2021

May 7, 2021

Goodtech ASA

Presentation Q1 2021

CEO Margrethe Hauge

Agenda

• Highlights
• Operational update
• Financial update
• Strategic update
• Outlook

More than 100 years of transformation

• Norsk Elektrisk Kabelfabrikk (NEK) founded in 1913
• Listed on the Oslo Stock Exchange in 1984
• Renamed Goodtech in 1993
• Acquired more than 10 companies within environmental technology during the 90'ties
• Cronus Group part of the family in 2005
• Acquired E&I AB 2010, sold 2015
• Established Goodtech Digital Solutions, Neuron Solution AS and Goodtech Environmental Solutions AB in 2019

Goodtech – the preferred provider of industrial efficiency

A trusted partner from project generation to aftermarket services

Focus on digitalization, efficiency and quality throughout the project delivery process

Robust and proven customer value proposition with loyal customer base

Attractive points of differentiation for customers... …ensuring excellent customer satisfaction scores

One-stop shop Wide solution portfolio

Diversified knowledge base Presence in several end-markets

6

Serving small to large customers

• Goodtech scores very high in customer surveys1 underpins the company's strong position and high quality project deliveries
• Approx. 85% of customers answer that Goodtech delivers high customer value
• High share of repeating customers
• Key to find optimal solutions to customer needs to secure repeating business

Highly diversified end-market exposure

Goodtech contributes to develop a more sustainable society

Developing systems that increase efficiency, reduce energy consumption and provide the least possible environmental impact

8

Highlights First quarter 2021

• Increased revenue and EBITDA compared to same period last year
• Satisfactory enquiry level but delay in capital investments due to Covid-19
• Expanding organization

Revenue distribution Q1-21

Positive trend expected to continue

• Positive revenue development due to improved market activity and solid project execution
• Good operating activity albeit Covid-19 pandemic situation

• Improved operations in Åland following the restructuring process

• Environmental business in Åland has historically affected margins negatively – ongoing turnaround set to support margins going forward

• One extraordinary project and product delivery postponements due to Covid-19 are key contributors to margin drop in 2020
• EBITDA and margins expected to continue improving

Group Balance Sheet

Net cash/-net interest bearing debt

Net cash/ - net interest-bearing debt

Leasing obligations included in accordance with IFRS16 from 1.1.2019.

Equity

Strong order backlog development albeit Covid-19 pandemic situation

• Sales and market activity in the Group is high
• Due to Covid-19, decision-making processes on capital purchases take somewhat longer than before the Covid pandemic, and clients are still hesitant to take investment decisions. However, signs of recovery with several tenders expected to be concluded in short time
• Åland awarded contract for Nynäshamn wastewater plant of MSEK 30 in December 2020 is in overclamation process in accordance with Swedish public procurement law and not included in order backlog as of Q1-21
• We see that customers are following the trend of moving data up in the cloud, and demand for cyber security services is increasing.
• Note that backlog projects normally only accounts for ~50% of annual revenues - engineering services, support functions and other income partly included in backlog

AUTOMATION DIGITALISATION ROBOTIZATION ENVIRONMENTAL

Outlook

• Goodtech is well positioned within our core markets; environment, aquaculture, metal, oil & gas, processing and food industry
• Automation and digitalization will be key to increase our customers competitiveness
• Favorable market conditions with growing demand for digitization and robotization solutions
• Digital transformation has just started