TOMRA Systems — Investor Presentation 2014

Apr 8, 2014

DNB SMALL AND MID CAP SEMINAR

Deputy CEO / CFO, Espen Gundersen 8 April 2014

THE WORLD POPULATION AND STANDARD OF LIVING IS INCREASING DRAMATICALLY

WORLD RESOURCES ARE UNDER UNPRECEDENTED PRESSURE

RESOURCE PRODUCTIVITY MUST INCREASE TO ENSURE SUSTAINABLE DEVELOPMENT

THE TOMRA TRANSFORMATION JOURNEY

A MARKET LEADER IN ALL ACTIVE MARKETS

* In total food (incl. rice and lane sorting): 12-15%

CREATING VALUE THROUGH TWO STRONG BUSINESS AREAS

Two strong areas for value creation

Source: 2013 FY financials

TOMRA Collection Solutions

ENSURE SUFFICIENT DIFFERENTIATION BY DELIVERING ON PRODUCT ROADMAP AMBITIONS

2012

2015

COMPETITIVE LANDSCAPE

Number of RVS markets

Source: TOMRA estimates and analysis

ESTIMATES

ENTER NEW SEGMENTS

CREATE NEW REVENUE STREAMS FROM SW/IT

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Integrating hardware and software into attractive and engaging combos

NEW DEPOSIT MARKETS

TOMRA Sorting Solutions

STRONG REVENUE GROWTH SINCE INCEPTION IN 1996

* Includes BEST proforma for 2012 and excluding Chilling and Freezing unit divested Q1 2013

HOW DOES SENSOR BASED SEPARATION WORK?

• High-tech sensors to identify objects
• High speed processing of information (material, shape, size, color, defect, damage and location of objects)
• Precise sorting by air jets or mechanical fingers
• Product specific equipment design often including multiple technologies to maximize sorting efficiency

A COMMON SENSOR BASED TECHNOLOGY PORTFOLIO

Gamma
radiation
X-ray
Ultraviolett (UV)
Visible light (VIS)
Near Infrared (NIR)
Infrarot (IR)
Microwaves
Radio waves
Alternating current (AC)

[m]	Sensor/ Technology	Material Property	Segment
10-12 10-11 10-10 10-9	RM (Radiometric)	Natural Gamma Radiation	Mining
	XRT (X-ray transmission) Low Energy X-ray	Atomic Density	Recycling, Mining, Food
10-8 10-7	XRF	X ray fluorescence (Elemental Spectroscopy)	Recycling, Mining
10-6 10-5 10-4 10-3 10-2 10-1	COLOR (CCD Color Camera)	Reflection, Absorption, Transmission	Recycling, Mining, Food
	Laser attenuation and PM (Photometric)	Monochromatic Reflection /Absorption of Laser Light Scattering analysis of Laser Light	Mining, Food
	NIR / MIR (Near/Medium Infrared Spectrometry)	Reflection, Absorption (Molecular Spectroscopy)	Recycling, Mining, Food
101 102	LIBS	Laser induced breakdown spectroscopy	Recycling, Mining
103 104	EM (Electro Magnetic sensor)	Conductivity, permeability	Recycling, Mining, Food

AUTOMATED WITH TOMRA SORTING UNITS

Sorting of Municipal Solid Waste, Cyprus

RECYCLING: APPLICATIONS AND SENSOR TECHNOLOGY

	HOUSEHOLD WASTE	PACKAGING	C & D	AUTOMOBILE SHREDDER	ELECTRONIC SCRAP
MATERIAL	• Hard plastics • Plastic film • Mixed paper • RDF • Metals • Organics/ Biomass	• Plastics • Plastic film • Cardboard • Mixed paper • Deinking paper • Metal	• Inert material • Plastic film • Metals • Wood • Paper & Cardboard • Plastics	• NF metal • Stainless steel • Copper cables • Copper • Brass • Aluminum • Meatball sorting	• Printed circuit boards • Non-ferrous metal concentrates • Cables • Copper • Brass • Stainless steel • Meatball sorting
SENSOR TECHNOLOGY	NIR VIS XRT	NIR VIS EM	NIR VIS XRT EM	NIR VIS XRT EM COLOR XRF	XRT EM NIR COLOR XRF

Mixed paper PE/PP flakes Cleaned wood Copper Wire Brass

RECYCLING COMPETITIVE LANDSCAPE

TOMRA competitive positioning

• Largest installed base
• Highest revenues
• Broadest technology platform
• Highest number of applications and markets served
• Leading brand
• Market share: 55-65%

Source: TOMRA estimates and analysis

OUR BROAD COVERAGE AND TECHNOLOGY BASE IS SETTING US APART

	DRIED FRUIT	NUTS	FRESH CUT	FRUIT	VEGETABLES	MEAT	POTATOES	SEAFOOD
FOOD	• Apricots • Craisins • Figs • Prunes • Raisins	• Almonds • Cashews • Hazelnuts • Macadamias • Peanuts • Pecans • Pistachios • Seeds • Walnuts	• Baby leaves •Iceberg lettuce • Spinach • Spring mix	• Apples • Blackberries • Blueberries • Cherries • Citrus • Cranberries • Peaches & pears • Raspberries • Strawberries • Tomatoes	• Beans • Beet • Broccoli • Carrots • Corn • Cucumbers • IQF vegetables • Jalapenos/ Peppers • Onions • Peas • Pickles	• Bacon bits • Beef •IQF meat • Pork • Pork rind	• Washed • French fries • Unpeeled • Peeled • Potato chips • Specialty products • Sweet	• Mussels • Scallops • Shrimps
SENSOR TECHNOLOGY	LASER NIR VIS X-RAY	LASER CAMERA X-RAY	LASER CAMERA	LASER CAMERA NIR VIS	LASER CAMERA NIR VIS	LASER CAMERA NIR	LASER CAMERA NIR VIS	LASER CAMERA NIR VIS X-RAY

TOMRA HAS THE BROADEST FOOTPRINT WITHIN THE FOOD SORTING UNIVERSE

* TOMRA estimates

FOOD COMPETITIVE LANDSCAPE

TOMRA competitive positioning

• Size (revenues)
• Widest range of applications (150+)
• Broadest technology base
• Geographic reach (~80 countries)
• Market share in targeted segments
• Transformative solutions (Q-Vision)
• Market share: 40-50% in markets served*

* Total Food sorting (also including rice and lane sorting): 12-15%

THE CONCEPT OF SENSOR-BASED SORTING IN MINING

Mining process: Industrial minerals

• 15% to 50% of the ROM can be rejected in an early stage of the process (application dependent)
• These low grade waste rocks don't need to be transported, crushed, grinded or further treated

Mining process: Metal mining

Current segment Potential new segment

MINING: APPLICATIONS AND SENSOR TECHNOLOGY

	INDUSTRIAL MINERALS	BASE & Fe METALS	FUEL/ ENERGY	PRECIOUS METALS	DIAMONDS & GEMS	METAL SLAG
	• Calcite	•Copper	• Coal	• Gold	• Diamonds	• Stainless steel
COMMODITY	• Quarts	• Zinc	• Uranium	• Platinum	• Tanzanite	• Copper
	• Feldspar	• Nickel			• Colored	• Chrome
	• Magnesite	• Tungsten			gemstones
	• Talcum	• Iron
	• Dolomite	• Manganese
	• Salt	• Chromite
SENSOR	COLOR	XRT	XRT	XRT	COLOR	XRT
TECHNOLOGY	XRT	COLOR EM	RM	COLOR XRF	XRT XRF	XRF EM
	NIR XRF	NIR		NIR	NIR
	Calcite	Copper	Coal	Gold	Diamonds	Ferro Silica Slag

MINING COMPETITIVE LANDSCAPE

TOMRA competitive positioning

• Wide geographical coverage
• Broadest technology platform
• Leading brand
• Pioneering in developing high volume sorter in corporation with Rio Tinto
• Market share: 40-50%

ADOPTION OF SENSOR-BASED SORTING AT DIFFERENT MATURITY LEVELS

* In certain mining sub-segments, such as industrial minerals and diamonds, sensor-based sorting is a more mature technology.

MARKET SIZE AND POTENTIAL

Total annual market size

EUR million

Source: TOMRA estimates and analysis

* Market size for food includes peeling, meat/process analytics, virgin materials and tobacco.

Market growth

• Market expected to grow at rate of around 7-9% per year
• A large part of growth from unlocking of dormant potential – only possible by developing new applications and technologies
• Some growth in "old world", but faster growth in "new world"

Expected development in geographical revenue contribution

AMBITIOUS TARGETS FOR GROWTH AND POSITIONING…

Q&A