Orkla ASA — Investor Presentation 2021

Nov 23, 2021

Jotun Protects Property

A story of growth…

Our values are more important than ever…

Jotun – a global company – one brand …..with regional strongholds – Middle East, Asia and Scandinavia

• Total sales NOK 21.1 bill (reported)
  • NOK 28.3 bill (100 %)
• Operating margin 16.6 %
• Fastest growing paint company
• 39 factories located on all continents
• 120 countries
• 10.000 employees

Jotun today

TODAY Jotun development… ….is based on our long term strategy

• 4 Segments
• Organic growth
• Differentiated approach

Jotun Protects Property

Jotun strategy

Segment and regional structure 2020

Name of Segment, Function, Product

*100 % numbers

Global Paint Market Jotun has 3.0 per cent of target market of 99 bill USD

Decorative market shares and positions: Global market shares and positions:

Jotun today

The profitable growth story continues

*100 % numbers

Cyclical raw material markets cause volatility in margins

• We expect the market to level out short term
• Index up 59% between August 2020 and August 2021
• Mainly driven by raw material price inflation for Performance Coatings (~70 %)

So far – so good - What about the future?

• Pandemic is not over preparing
• Priorities stays the same
• 2020 was very good 2021 will be decent
• Great uncertainty
  • Raw material prices
  • Marine New Building
  • Oil & Gas
  • Post Corona

• Digitalization and sustainability are key drivers in the future

Iconic new shops - MEIA region

Summary

• Proven ability to grow
• Growing markets
• Excellent footprint
• Strategy stays firm
• Value creation

Jotun Protects Property

Jotun Protects Property

Industry; Jotun targets 65% of P&C market

Global composition and Jotun share of target

	Figures in mill USD
Segment	Global Sector
Decorative	73,000
Protective	12,000
Marine	4,000
Powder	10,000
Jotun	99,000

All time high sales and EBITA year to date

NOK million, 100 %, fixed rate, Jan-Aug 2021

Improved sales and results

…Double-digit sales and EBITA growth in all segments, except Marine

NOK million, fixed rate, Jan-Aug 2021

Sales growth in all regions - EBITA growth in 4 of 7 regions

Jotun EBITDA at 19,3% (2020)

Proven track record through times of crisis

• A crisis seldom hits all regions and segments at the same time

Morten Fon / Orkla CMD 20

NOK million, fixed rates, Year end

Jotun – fastest growing last many years

Sustainability will receive more focus

CO2 per ton reduced by 40%

We have tracked and will report on all 5 dimensions*