TOMRA Systems — Earnings Release 2016

Feb 23, 2017

23.02.2017

HIGHLIGHTS

4Q 2016

• Revenues of 1,766 MNOK (1,816 MNOK in fourth quarter 2015). Currency adjusted revenues were:
• Stable for TOMRA Group
• Down 7% in TOMRA Collection Solutions
• Up 11% in TOMRA Sorting Solutions
• Gross margin 42%, up from 41% in fourth quarter 2015
• Slightly improved margin in TOMRA Collection Solutions
• Slightly improved margin in TOMRA Sorting Solutions
• Operating expenses of 427 MNOK (404 MNOK in fourth quarter 2015) — Including 6 MNOK in transaction costs for Compac
• EBITA of 316 MNOK (347 MNOK in fourth quarter 2015)
• All time high cash flow from operations of 390 MNOK (343 MNOK in fourth quarter 2015)
• TOMRA Sorting Solutions
• Order intake of 649 MNOK, up from 551 MNOK same period last year (up 20% currency adjusted)
• Order backlog of 704 MNOK, up from 659 MNOK at the end of fourth quarter 2015
• TOMRA Collection Solutions
• Good momentum in Germany, due to replacement demand
• High activity in the Nordic market, due to replacement in Sweden
• TOMRA to acquire New Zealand sorting machine manufacturer Compac
• The Board proposes a dividend of NOK 2.10 per share, up from NOK 1.75 last year

CONSOLIDATED FINANCIALS

Fourth quarter

Revenues in the fourth quarter 2016 amounted to 1,766 MNOK compared to 1,816 MNOK in fourth quarter last year. Currency adjusted revenues were down 7% in TOMRA Collection Solutions and up 11% in TOMRA Sorting Solutions.

Gross margin was 42% in the quarter, up from 41% same period last year, with slightly improved margins in both Collection Solutions and Sorting Solutions.

Operating expenses increased from 404 MNOK in fourth quarter 2015 to 427 MNOK in fourth quarter 2015, including 6 MNOK in acquisition cost related to the Compac acquisition.

EBITA was 316 MNOK in fourth quarter 2016 versus 347 MNOK in the fourth quarter 2015.

EPS decreased from NOK 1.61 to NOK 1.26 in fourth quarter 2016 versusfourth quarter 2015.

Cash flow from operations in fourth quarter 2016 equaled 390 MNOK, up from 343 MNOK in fourth quarter 2015, positively influenced by prepayments from customers.

Full year

Revenues in 2016 were 6,610 MNOK compared to 6,143 MNOK in 2015. Revenues in TOMRA Collection Solutions increased 7% (up 4% currency adjusted), while revenues in TOMRA Sorting Solutions were up 9% (up 5% currency adjusted).

The gross margin was 43% in 2016, up from 42% last year. The margin improved in Collection Solutions and was stable in Sorting Solutions.

Operating expenses increased from 1,548 MNOK in 2015 to 1,695 MNOK in 2016. Adjusted for currency, operating expenses were up 5%.

EBITA was 1,119 MNOK in 2016 versus 1,015 MNOK in 2015.

Cash flow from operations was strong at 1,095 MNOK in 2016, compared to 913 MNOK in 2015.

The Board proposes a dividend of NOK 2.10 per share, up from NOK 1.75 last year.

TOMRA Group
(MNOK)	4Q16	4Q15	2016	2015
Revenues	1 766	1 816	6 610	6 143
Gross contribution	743	751	2 814	2563
- in %	42 %	41 %	43 %	42 %
Operating expenses	427	404	1695	1548
EBITA	316		347 1 119	1015
- in %	18 %	19 %	17 %	17 %
Incl. onetime costs
- In operating exp.	6	-	12	-

Total assets were 7,317 MNOK as of 31 December 2016. This represents a currency-adjusted increase of 1 percent in 2016.

EPS increased from NOK 4.06 in 2015 to NOK 4.68 in 2016, due to higher sales, improved gross margin and positive contribution from finance (currency gain on forward contracts). The equity ratio increased from 54% to 59% during 2016, positively influenced by 2016 earnings, partly offset by negative translation differences of NOK 171 million (as decreased value of assets in foreign currencies reduces the equity when measured in NOK) and dividend of 259 MNOK.

Net Interest Bearing Debt / EBITDA (rolling 12 months' basis) improved from 0.7x at the end of 2015 to 0.3x at the end of 2016 (but will increase to ~0.6x after first installment of the Compac acquisition 1 st February 2017)

BUSINESS AREA REPORTING

TOMRA Collection Solutions

Revenues in the business area equaled 1,028 MNOK in the fourth quarter, down from 1,139 MNOK in fourth quarter last year. After adjustment for currency changes, revenues were down 7%.

Gross margin was 39%, slightly up from same period last year, positively influenced by product mix.

EBITA was 198 MNOK, down from 242 MNOK last year, due to lower sales and increased operating expenses.

Europe

Currency adjusted revenues in Europe were down 9% in fourth quarter 2016, compared to a very strong fourth quarter 2015 (which was 39% up against fourth quarter 2014).

There has continued to be good momentum in Germany due to replacement demand. There has also been high activity in the Nordic region, due to new regulations in Sweden effective from 1 January 2017 and the start-up of the Lithuanian deposit system (introduced February 2016).

North America

Currency adjusted revenues were up 2% in fourth quarter, compared to same period last year. Increased machine sales compensated for somewhat reduced throughput volumes.

TOMRA Collection Solutions

(MNOK)	4Q16	4Q15	2016	2015
Revenues
- Nordic	157	152	665	526
- Europe (ex Nordic)	505	616	1 860	1 809
- North America	354	353	1 474	1 393
- Rest of World	12	18	66	75
Total revenues	1 028	1 139	4 065	3 803
Gross contribution	402	441	1 664	1 510
- in %	39 %	39 %	41 %	40 %
Operating expenses	204	199	821	749
EBITA	198	242	843	761
- in %	19 %	21 %	21 %	20 %

BUSINESS AREA REPORTING

TOMRA Sorting Solutions

Revenues equaled 738 MNOK in fourth quarter 2016, up 11% in local currencies.

Gross margin was 46%, slightly up from same period last year, positively influenced by product mix.

Operating expenses were up 6%.

EBITA increased from 115 MNOK in fourth quarter 2015 to 134 MNOK in fourth quarter 2016.

The overall performance improved in TOMRA Sorting during fourth quarter 2016, with increased order intake (649 MNOK versus 551 MNOK in fourth quarter 2015), improved back log (704 MNOK versus 659 MNOK at the end of 2015) and increased revenues.

	TOMRA Sorting Solutions

(MNOK)	4Q16	4Q15	2016	2015
Revenues
- Europe	290	305	1 100	1 089
- North America	194	179	805	685
- South America	47	35	80	92
- Asia	122	132	368	366
- Oceania	48	13	115	52
- Africa	37	13	77	56
Total revenues	738	677	2 545	2 340
Gross contribution	341	310	1 150	1 053
- in %	46 %	46 %	45 %	45 %
Operating expenses	207	195	822	763
EBITA	134	115	328	290
- in %	18 %	17 %	13 %	12 %

Businessstreams

Food

Overall, there is a good momentum in the Food segment. Revenues in fourth quarter 2016 were significantly up from fourth quarter 2015 and the order intake also improved during the same period.

Recycling

Continuing low prices on several commodities are still having a somewhat negative effect on the performance of the Recycling business stream. Revenues in fourth quarter 2016 were slightly down compared to fourth quarter 2015. Order intake was however up quarter over quarter.

Mining

The market is still depressed in all commodities, apart from diamonds, but revenues and order intake have improved from a low level last year.

COMPAC ACQUISITION

TOMRA signed 11 October a sales and purchase agreement with the owners of Compac Holding Ltd (Compac), acquiring 100 per cent of the shares in the company. Closing of the transaction took place 31 January 2017, after TOMRA obtained approval from the New Zealand Overseas Investment Office. Compac will be consolidated into the Tomra Group accounts, starting 1 February 2017.

Order intake TOMRA Sorting

Order backlog TOMRA Sorting

Revenues TOMRA Sorting

Compac is a leading provider of lane sorting within the fresh fruit and vegetable segment. The company designs, manufactures, sells and services packhouse automation systems that sort fresh produce based on weight, size, shape, color, surface blemishes and internal quality.

With the acquisition of Compac, TOMRA will reinforce its leading position within the food segment and it will be the first player to offer its customers both lane and bulk sorting of fresh and processed foods.

TOMRA has at closing paid a consideration of 70 MNZD, free of cash and interest bearing debt. In addition to the initial purchase price, the sellers are entitled to an earn-out linked to the combined EBIT for the period July 2016 to June 2019. The earn-out is capped at 230 MNZD, which is reached at a combined EBIT for the three years' period of 84 MNZD. There will be progress payments after Fiscal year 2017 (ending June 2017), Fiscal year 2018 (ending June 2018) and Fiscal year 2019 (ending 2019), if certain interim targets are met. If the combined EBIT during the period is below 20 MNZD, no additional earn-out will be paid (somewhat dependent upon the distribution of EBIT between the three years).

MARKET OUTLOOK

The long term demand for better resource productivity is a result of megatrends such as population increase, a growing middle class consumer base and greater urbanization. TOMRA, as a leader in sensor based solutions, is favorably positioned to capitalize on these trends.

TOMRA Collection Solutions

The replacement demand in Germany is assumed to continue into 2017, but the replacement in Sweden was to a large extent finished at the end of 2016.

TOMRA Sorting Solutions

Currently good momentum in Food, but low commodity prices will still have a somewhat negative influence on the Recycling and Mining performance.

Compac to be consolidated from 1 February 2017.

Currency

Reporting in NOK and with some NOK cost base, TOMRA will be negatively impacted by a strengthening NOK, measured particularly against EUR and USD.

THE TOMRA SHARE

The total number of issued shares at the end of fourth quarter 2016 was 148,020,078 shares, including 498,946 treasury shares. The total number of shareholders decreased from 5,683 at the end of third quarter 2016 to 5,595 at the end of fourth quarter 2016. Norwegian residents held 27% of the shares at the end of fourth quarter 2016.

TOMRA's share price decreased from NOK 92.75 to NOK 90.50 during fourth quarter 2016. The number of shares traded on the Oslo Stock Exchange in the period was 7 million, down from 13 million in the same period in 2015.

Asker, 22 February 2017

The Board of Directors TOMRA SYSTEMS ASA

Jan Svensson Stefan Ranstrand Chairman of the Board President & CEO

Condensed Consolidated interim financial statements

STATEMENT OF PROFIT AND LOSS		4th Quarter		Full year
(MNOK)	Note	2016	2015	2016	2015
Operating revenues	(5)	1 765,9	1 748,4	6 609,9	6 142,9
Cost of goods sold		995,4	1 011,0	3 692,4	3 500,5
Depreciations/write-down		27,2	20,4	103,4	79,5
Gross contribution		743,3	717,0	2 814,1	2 562,9
Operating expenses		402,9	367,2	1 586,8	1 448,4
Depreciations/write-down		24,1	25,9	108,1	99,5
EBITA	(5)	316,3	323,9	1 119,2	1 015,0
Amortizations		29,2	34,1	131,5	124,3
EBIT	(5)	287,1	289,8	987,7	890,7
Net financial income		(15,3)	(7,0)	20,4	(24,7)
Profit before tax		271,8	282,8	1 008,1	866,0
Taxes		77,3	80,6	256,9	211,6
Profit from continuing operations		194,5	202,2	751,2	654,4
Discontinued operations		(5,1)	(1,1)	(12,9)	(6,7)
Net profit		189,4	201,1	738,3	647,7
Non-Controlling interest (Minority interest)		(4,2)	(18,7)	(47,2)	(46,9)
Earnings per share (EPS)		1,26	1,23	4,68	4,06
Earnings per share (EPS) continuing operations		1,29	1,24	4,76	4,11
STATEMENT OF OTHER COMPREHENSIVE INCOME		4th Quarter			Full year
(MNOK)		2016	2015	2016	2015
Net profit for the period		189,4	247,8	738,3	647,7
Other comprehensive income that may be reclassified to profit or loss
Translation differences		126,7	87,3	(175,4)	352,2
Other comprehensive income that will not be reclassified to profit or loss
Remeasurements of defined benefit liability (assets)		(2,9)	(0,4)	(2,9)	(0,4)
Total comprehensive income		313,2	334,7	560,0	999,5

Attributable to:
Non-controlling interest	14,0	15,2	43,1	68,3
Shareholders of the parent company	299,2	319,5	516,9	931,2
Total comprehensive income	313,2	334,7	560,0	999,5
	#REF!

STATEMENTS OF FINANCIAL POSITION		31 December
(MNOK)	2016	2015
ASSETS
Intangible non-current assets	2 749,9	2 890,5
Tangible non-current assets	800,7	837,9
Financial non-current assets	342,6	315,7
Inventory	1 126,9	1 209,0
Receivables	1 695,5	1 751,2
Cash and cash equivalents	399,2	312,9
TOTAL ASSETS	7 114,8	7 317,2
EQUITY & LIABILITIES
Equity	4 192,3	3 945,1
Non-controlling interest	177,7	160,4
Deferred taxes	97,5	124,2
Long-term interest bearing liabilities	759,7	1 206,4
Short-term interest bearing liabilities	-	-
Other liabilities	1 887,6	1 881,1
TOTAL EQUITY & LIABILITIES	7 114,8	7 317,2

8

STATEMENT OF CASHFLOWS		4th Quarter		Full year
(MNOK)	Note	2016	2015	2016	2015
Profit before income tax*		267,0	309,3	995,2	859,3
Changes in working capital		155,0	26,2	60,9	(88,9)
Other operating changes		(32,3)	7,8	39,1	143,1
Total cash flow from operations		389,7	343,3	1 095,2	913,5
Cashflow from (purchase)/sales of subsidiaries		2,7	7,1	2,7	59,3
Other cashflow from investments		(94,4)	(158,3)	(320,3)	(339,5)
Total cash flow from investments		(91,7)	(151,2)	(317,6)	(280,2)
Cashflow from sales/repurchase of treasury shares	(3)	(31,2)	(22,8)	(10,8)	(15,7)
Dividend paid out	(2)	0,0	0,0	(258,8)	(214,3)
Other cashflow from financing		(174,4)	(263,8)	(396,5)	(580,6)
Total cash flow from financing		(205,6)	(286,6)	(666,1)	(810,6)
Total cash flow for period		92,4	(94,5)	111,5	(177,3)
Exchange rate effect on cash		(27,3)	11,9	(25,2)	53,9
Opening cash balance		334,1	395,5	312,9	436,3
Closing cash balance		399,2	312,9	399,2	312,9

Condensed Consolidated interim financial statements (continued)

* Including loss from discontinued operations

EQUITY	Paid in	Transl.	Actuarial	Retained	Total	Minority
(MNOK)	capital	reserve	Gain /	earnings	majority	interest
Balance per 31 December 2015	1 065,9	656,0	(37,5)	2 260,7	3 945,1	160,4
Net profit				691,2	691,2	47,2
Changes in translation difference		(171,4)			(171,4)	(4,1)
Remeasurement defined benefit liability			(2,9)		(2,9)
Dividend non-controlling interest					0,0	(29,8)
Purchase of treasury shares	(0,3)			(31,0)	(31,3)
Treasury shares sold to employees	0,2			20,2	20,4
Minority new consolidated companies					0,0	4,0
Dividend to shareholders				(258,8)	(258,8)
Balance per 30 September 2016	1 065,8	484,6	(40,4)	2 682,3	4 192,3	177,7

EQUITY	4th Quarter			Full year
(MNOK)	2016	2015	2016	2015
Opening balance	3 924,5	3 648,3	3 945,1	3 244,0
Net profit	185,6	237,1	691,2	600,8
Translation difference	116,4	82,9	(171,4)	330,8
Remeasurement defined benefit liability	(2,9)	(0,4)	(2,9)	(0,4)
Dividend paid		0,0	(258,8)	(214,4)
Net purchase of own shares	(31,3)	(22,8)	(10,9)	(15,7)
Closing balance	4 192,3	3 945,1	4 192,3	3 945,1

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTE 1 Disclosure

This interim report has been prepared in accordance with IAS34, and in accordance with the principles used in the annual accounts for 2016. The quarterly reports do not however include all information required for a full annual financial statement of the Group and should be read in conjunction with the annual financial statement for 2016. The quarterly reports have not been audited. The quarterly reports require management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The significant judgments made by management in preparing these condensed consolidated interim financial statements in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for the year ending 31 December 2016.

A number of new standards, amendments to standards and interpretations are not effective for the year ended 31 December 2016 and have not been applied in preparing these consolidated financial statements. Those that may be relevant to the Group are set out below. The Group does not plan to adopt these standards early. These will be adopted in the period that they become mandatory unless otherwise indicated:

IFRS 9 Financial Instruments IFRS 15 Revenue from Contracts with Customers IFRS 16 Leases Amendments to IAS 12 – Recognition of Deferred Tax Assets for Unrealised Losses Amendments to 7 – Disclosure Initiative

TOMRA is considering the effects of the future adoption of these standards.

IFRS 15 was issued in May 2014 with effective date 1. January 2018. The standard establishes a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers. Under IFRS 15 an entity recognizes revenue when a performance obligation is satisfied, i.e. when control over the goods or services underlying the particular performance obligation is transferred to the customer.

The evaluation of the impact for Tomra Collection Solutions will be completed during 2017, but as the majority of revenues in Tomra Collection Solutions stem from sale of goods and service with only one performance obligation, the implementation of IFRS 15 in Tomra Collection Solutions is not anticipated to significantly impact the financial statements.

The evaluation of the impact for Tomra Sorting Solutions will be completed during 2017, however an impact from the new Revenue recognition standard is expected. In the preliminary assessment, the sale of a sorter and the following installation is considered one performance obligation, and the revenues cannot be recognized until the installation is completed. As it normally takes 3-6 months from delivery of the machine until the installation is complete, revenue recognition is expected at a later point in time with the new standard.

IFRS 16 leases was issued in January 2016 with effective date 1. January 2019. IFRS 16 specifies how to recognize, measure and disclose leases. The standard provides a single lessee accounting model, requiring lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.

The evaluation of the impact for TOMRA has not been completed at this stage, but the implementation of the lease standard is anticipated to increase the balance sheet by 10-15 percent. The implementation will also have a negative impact on key figures using total assets as a variable like ROCE. The expenses will be presented as depreciations and interest expenses in the income statement, rather than operating lease expenses, and will have a positive effect on EBITDA.

TOMRA's current assessment of other new and revised standards does not indicate any material effects in the financial statements from the new requirements.

Revenue recognition: Revenues from sales and sales-type leases of the company's products are generally recognized at the time of installation. Revenues from service contracts and operating leases of the company's products are recognized over the duration of the related agreements. Other service revenues are recognized when services are provided.

Seasonality: The Material Recovery operations, and to some extent the US Reverse Vending operations, are influenced by seasonality. The seasonality mirrors the beverage consumption pattern in the US, which normally is higher during the summer (2Q and 3Q) than during the winter (1Q and 4Q). Also the Food business stream within Sorting Solutions is influenced by seasonality, with somewhat higher activity during the harvest season in the northern hemisphere.

Financial exposures: TOMRA is exposed to currency risk, as only ~4% of its income is nominated in NOK. A strengthening/ weakening of NOK toward other currencies of 10% would normally decrease/increase operating profit by 8-12%. An increase in NIBOR and EURIBOR of 1 percentage point, would increase financial expenses by ~NOK 5 million per year.

Segment reporting: TOMRA has divided its primary reporting format into two business areas: Collection Solutions and Sorting Solutions. In addition, the corporate overhead costs are reported in a separate column. The split is based upon the risk- and return profile of the Group's different activities; also taking into consideration TOMRA's internal reporting structure.

• Collection Solutions consists of the business streams Reverse Vending (development, production, sales and service of Reverse Vending Machines and related data management systems) + Material Recovery (pick-up, transportation and processing of empty beverage containers on behalf of beverage producers/fillers on the US East Coast and in Canada)
• Sorting Solutions consists of the business streams Food, Recycling and Mining, all providing advanced optical sorting systems
• Group Functions consists of costs related to corporate functions at TOMRA's headquarters

Assets and liabilities are distributed to the different business streams, except for cash, interest-bearing debt and taxpositions, which are allocated to Group Functions. There are no material revenues from transactions with other business areas. There were no material related party transactions in 2016.

Alternative performance measures: Alternative performance measures used in this report are defined in the following way:

• EBITA is the calculated profit (loss) for the period before (i) income tax expenses, (ii) finance income and expenses and (iii) amortization.
• Net interest bearing debt is calculated as the difference between interest-bearing debts and cash and cash equivalents. Interest-bearing debts include loans from financial institutions (current and non-current loans) and cash and cash equivalents include short-term deposits, cash funds and bank accounts.
• Currency adjusted revenues is the change in revenues, after adjusting for estimated currency effect.
• Order backlog is defined as the value of orders received within Tomra Sorting, that have not yet been delivered (and consequently not yet been taken to P/L).

The divested Compaction business is classified as discontinued operations in the profit and loss statement.

NOTE 2 Dividend paid

Paid out May 2015:	1.45 NOK x 147.8 million shares = NOK 214.3 million
Paid out May 2016:	1.75 NOK x 147.9 million shares = NOK 258.8 million

NOTE 3 Purchase of treasury shares

Net purchase of own shares	# shares	Average price		Total (MNOK)
2015
Purchased in the marked	250 000	NOK	91,16	22,8
Sold to employees	(103 603)	NOK	68,59	(7,1)
Net purchased	146 397			15,7
2016
Purchased in the marked	350 000	NOK	89,16	31,2
Sold to employees	(242 136)	NOK	84,25	(20,4)
Net purchased	107 864			10,8

NOTE 4 Interim results

(MNOK)	4Q16	3Q16	2Q16	1Q16	4Q15
Operating revenues (MNOK)	1 766	1 715	1 770	1 360	1 816
EBITA (MNOK)	316	331	318	153	347
EBIT (MNOK)	287	294	285	121	315
Sales growth (year-on-year) (%)	-3 %	-2 %	20 %	23 %	30 %
Gross margin (%)	43 %	43 %	43 %	42 %	41 %
EBITA margin (%)	18 %	19 %	18 %	9 %	19 %
EPS (NOK)	1,26	1,50	1,38	0,54	1,61
EPS (NOK) fully diluted	1,26	1,50	1,38	0,54	1,61

NOTE 5 Operating segments

SEGMENT	Collection Solutions			Sorting Solutions		Group Functions	Group Total
(MNOK)	4Q16	4Q15	4Q16	4Q15	4Q16	4Q15	4Q16	4Q15
Revenues	1 028	1 139	738	677			1 766	1 816
Gross contribution	402	441	341	310			743	751
- in %	39 %	39 %	46 %	46 %			42 %	41 %
Operating expenses	204	199	207	195	1 6	1 0	427	404
EBITA	198	242	134	115	(16)	(10)	316	347
- in %	19 %	21 %	18 %	17 %			18 %	19 %
Amortization	1 2	1 1	1 7	2 1			2 9	3 2
EBIT	186	231	117	9 4	(16)	(10)	287	315
- in %	18 %	20 %	16 %	14 %			16 %	17 %
SEGMENT	Collection Solutions		Sorting Solutions		Group Functions		Group Total
(MNOK)	2016	2015	2016	2015	2016	2015	2016	2015
Revenues	4 065	3 803	2 545	2 340			6 610	6 143
Gross contribution	1 664	1 510	1 150	1 053			2 814	2 563
- in %	41 %	40 %	45 %	45 %			43 %	42 %
Operating expenses	821	749	822	763	5 2	3 6	1 695	1 548
EBITA	843	761	328	290	(52)	(36)	1 119	1 015
- in %	21 %	20 %	13 %	12 %			17 %	17 %
Amortization	4 8	4 1	8 3	8 3			131	124
EBIT	795	720	245	207	(52)	(36)	988	891
- in %	20 %	19 %	10 %	9 %			15 %	15 %
Assets	2 786	2 992	3 712	3 793	617	532	7 115	7 317
Liabilities	643	1 063	586	588	1 516	1 561	2 745	3 212

About TOMRA

TOMRA was founded on an innovation in 1972 that began with design, manufacturing and sale of reverse vending machines (RVMs) for automated collection of used beverage containers.

Today, TOMRA has ~90,000 installations in over 80 markets worldwide and had total revenues of ~6.6 billion NOK in 2016.

The Group employs ~3,300 globally, and is publicly listed on the Oslo Stock Exchange. (OSE: TOM)

The TOMRA Group continues to innovate and provide cutting-edge solutions for optimal resource productivity within two main business areas: Collection Solutions (reverse vending and material recovery) and Sorting Solutions (recycling, mining and food sorting).

For further information about TOMRA, please see www.tomra.com

The results announcement will be broadcasted Thursday 23rd of October at 08:00 CET via live webcast. Link to webcast for this and previous releases are available athttps://tomra.com/en/investor-relations/webcasts/

For further information contact:

Espen Gundersen, Deputy CEO / CFO, Tel: +47 97 68 73 01 Elisabet V. Sandnes, Vice President Investor/M&A, Tel: +47 97 55 79 15