Cambi ASA

Q1 2024

Eirik Fadnes, CEO

Mats Tristan Tjemsland, CFO

7 May 2024

1

Disclaimer

This presentation is for information purposes only. Cambi ASA gives no representation or warranty, expressed or implied, as to the accuracy or completeness of any information included herein. No information, including projections, estimates, targets and opinions, contained in this presentation is or can be relied upon as a promise or representation by Cambi ASA.

The presentation contains information obtained from third parties. Such information has been accurately reproduced, and as far as Cambi ASA is aware and able to ascertain from the information published by that third party no facts have been omitted that would render the reproduced information inaccurate or misleading. While all steps have been taken to ensure the presentation's accuracy, Cambi ASA does not accept any responsibility for any errors or resulting loss or damage whatsoever. Readers have the responsibility to check these aspects for themselves thoroughly. Enquiries about the reproduction of content from this publication should be directed to Cambi ASA.

The presentation contains forward-looking statements related to Cambi ASA's current plans, objectives, forecasts and estimates. These statements only consider available information up to the date that this presentation was prepared. Cambi ASA makes no guarantee that these forward-looking statements will prove right. The future development of Cambi ASA and its subsidiaries and the achieved results are subject to a variety of risks and uncertainties, which could cause actual events or results to differ significantly from those reflected in the forward-looking statements. Many of these factors are beyond the control of Cambi ASA and its subsidiaries and, therefore, cannot be precisely predicted.

Financial highlights

NOK million

Order

Order

Revenue

EBITDA

intake

backlog

Q1 2024

216

36

401

1,727

Q1 2023

210

57

223

1,079

Cambi delivers robust technology for a costly waste problem

Wastewater treatment

Sludge/ solids

Biosolids

Biosolids transport

management

treatment

Sewage/

Sludge/

Biosolids

wastewater

wastewater

Biological

Digestion

Road

Land application

solids

Chemical

Liming

Rail

Incineration

Physical

Composting

Landfill

Drying

Cambi

Grønn

Vekst

4

Deliveries are customised to client needs and site requirements

  • Cambi fits at almost any site and transforms sludge treatment
  • Each project is different
  • Greenfield vs. Brownfield construction site
  • Solids line or entire plant
  • Capacity expansion vs. upgrading with new technology or both
  • Integration of all plant technologies is essential

Cambi Plug&Go - illustration of a THP system retrofit

5

Cambi's project role and scope varies

Example from two projects with different scope

Copenhagen, Denmark

San Francisco, USA

BIOFOS

Cambi

Civil

Mechanical

Electrical

Cambi

Aux

Equipment

Equipment

Know-how

Know-how

Know-howKnow-how

Know-how

Consultant

Sub-

Sub-

Sub-

Supervision

Supplier

contractor

contractor

contractor

San Francisco Public Utilities Commission

JV MWH Constructors and Webcor Builders

Civil

Mechanical

Electrical

Cambi

Aux

Equipment

Equipment

Know-how

Know-how

Know-howKnow-how

Know-how

Consultant

Sub-

Sub-

Sub-

Supervision

Supervision

contractor

contractor

contractor

6

Project timelines vary with the scope and complexity

Illustration of the percent-of-completion for a Cambi THP construction contract by execution stage

100%

75%

40

10

15

20

15

50%

25%

0%

Engineering

Manufacturing

Installation

Commissioning

Performance

testing/ ramp-up

Basic + detailed engineering,

In-house manufacturing of

Requires the completion of

All elements of the sludge

Once in operation, Cambi

submittals and approvals by

Cambi's proprietary THP

the foundation work by the

line must be ready to work in

provides training, assists

both EPC contractor and

equipment. Sourcing the

main contractor. After site

sync for start-up. This can

with ramp-up and any

end-client. Up to 6 months

ancillary equipment included

delivery, Cambi's installation

often lead to delays, but

troubleshooting. Handover

in the contract scope.

involvement can be full

most of Cambi's scope and

takes place once the THP

responsibility or supervisory.

payment milestones have

meets the performance

already passed. Usually

criteria set in the contract.

done by Cambi, first on

X

steam, and then on sludge.

Share (%) of Cambi's current construction projects in different stages of execution

7

Cambi will improve solids treatment in Hawaii - major contract

  • Cambi has been awarded a contract to supply a THP system to the Honouliuli wastewater treatment plant
  • Cambi's 12th project in the US, with operations scheduled to start in 2027
  • Modern, efficient, high-seismic THP system
  • Saves space and cost by substituting new digesters and enables safe biosolids reuse

Grønn Vekst was awarded an important biosolids handling contract

  • Grønn Vekst has been awarded one of Norway's largest contracts for handling biosolids for Veas
  • Veas is Norway's largest wastewater treatment plant, serving more than 800,000 people
  • The contract has a firm duration of 2 years, with two extension options of one year for a total duration of up to 4 years.
  • The estimated contract value, including options, is up to NOK 80 million.
  • Cambi's process and Grønn Vekst's experience with biosolids-based soil products will strengthen Veas' role in the local circular economy, contributing to a healthier Oslo fjord.

Recent events

Grønn Vekst secures contract renewal

  • Grønn Vekst was awarded at the end of April a contract renewal in Bærum, Norway
  • Grinding, transporting and composting all garden waste in the municipality for 3 years, with a one-year extension option

Approved dividend payout

  • The AGM has approved a dividend of NOK 1.00 per share at the meeting on 2 May, to be paid out on or around 16 May 2024
  • Largest dividend payout in Cambi's history, in total amount of NOK 160 million

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Cambi ASA published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 05:30:05 UTC.