Correction: Orkla confirms progress on strategy

28 May 2025 15:25 CEST

Added missing attachment to the English version

Following structural changes and strong performance in key areas, Orkla
outlined how it is positioning for continued profitable growth.

At its Capital Markets Update today, Orkla ASA confirmed it is on track to
reach the financial targets presented at the 2023 Capital Markets Day. The
company also provided insights into value creation in the three largest
consolidated portfolio companies: Orkla Foods, Orkla Snacks and Orkla Food
Ingredients.

"We are developing a less complex, more focused portfolio. Through a
combination of profitable growth, disciplined capital allocation and
value-creating structural transactions, we aim to deliver on our financial
targets," says Nils K. Selte, President and CEO of Orkla.

Financial targets for 2024--2026
The key financial targets remain unchanged. These include 12-14% Total
Shareholder Return (TSR) per year in the period 2024-2026, as well as:

* Underlying EBIT (adj.) growth of 8--10% CAGR in the period 2024-2026
* Improvement in EBIT (adj.) margin from 9% in 2023 to 10.5--11% in 2026
* Improvement in ROCE from 10% in 2023 to 13% by 2026

Orkla's capital allocation priorities remain firm: a stable and increasing
dividend, value-accretive investments, and return of excess capital to
shareholders.

Simplification and structural progress
Since the 2023 Capital Markets Day, Orkla has reduced the number of portfolio
companies from 12 to 10 and is targeting 7--9 by year-end 2026. This
simplification supports Orkla's three strategic priorities: driving organic
value in the existing portfolio, reducing complexity, and executing
value-adding structural transactions. Orkla continues to categorise the
portfolio companies as "Grow and Build", "Anchor", or "Transform or Exit".

Orkla Home & Personal Care has been reclassified from the "Transform or Exit"
category to "Anchor", reflecting a strong operational turnaround. EBIT (adj.)
has more than doubled from 2022 to 2024, and the company delivered strong cash
flow in 2024.

"The move reflects Orkla Home & Personal Care's improved performance,
positioning it as a solid contributor going forward," says Selte.

Presentation and materials
Presenters at the event:

* Nils K. Selte, President and CEO Orkla ASA
* Arve Regland, EVP and CFO Orkla ASA
* Aku Vikström, CEO Orkla Foods
* Ingvill Tarberg Berg, CEO Orkla Snacks
* Johan Clarin, CEO Orkla Food Ingredients

The presentations are available as a downloadable attachment (PDF) to this
announcement.

Watch a replay of the webcast and Q&A here:
https://events.webcast.no/orkla-asa-1/capital-markets-update/YanhUPEmbNX3PdExesp
l

About Orkla
Orkla ASA is a leading industrial investment company within brands and
consumer-oriented businesses. At present, Orkla has 10 portfolio companies.
The company takes a long-term and strategic approach to its investments,
creating value by combining brand expertise with an investment company
mindset. Orkla is listed on the Oslo Stock Exchange and is headquartered in
Oslo, Norway. Orkla had a turnover of approximately NOK 71 billion in 2024.

Orkla ASA
Oslo, 28 May 2025

Ref.:

SVP Investor Relations & Communication
Annie Bersagel
Mobile: +47 986 03 664
Email: annie.bersagel@orkla.no

VP Financial Communication
Joachim Gresslien
Mobile: +47 907 25 018
Email: joachim.gresslien@orkla.no

More information:
Access the news on Oslo Bors NewsWeb site

647899_Orkla Capital Markets Update 2025.pdf