Norconsult: Q2 and first half year 2026 - Strong growth and stable profitability

Sandvika, 20 August 2026 (OSE: NORCO): The income after external project costs increased by 17 percent to NOK 2 883 million (2 468) in the second quarter of 2026. Organic growth adjusted for calendar effects was 6 percent. The adjusted EBITA margin adjusted for calendar effects was 6.2 percent in the quarter, consistent with the corresponding period last year.

Highlights Q2 2026

· Strong growth of 17 percent in income after external project cost to NOK 2 883 million (2 468) · Positive calendar effects of NOK 82 million · Organic growth of 6 percent adjusted for calendar effects · Adj. EBITA was NOK 255 million (152) with an adj. EBITA margin of 8.8

percent (6.2)

· Adj. EBITA margin was 6.2 percent, adjusted for calendar effects · Net profit of NOK 134 million (114) · Earnings per share (EPS) NOK 0.43 (0.37) · Orderbook increased to NOK 7.8 billion, up from NOK 7.6 billion in Q1 2026 · Integration of the Aas-Jakobsen Group was completed as planned during the

quarter

Highlights H1 2026

· Strong growth of 15 percent in income after external project costs to NOK 5 889 million (5 105) · Positive calendar effects of NOK 17 million · Organic growth of 6 percent adjusted for calendar effects · Adj. EBITA was NOK 586 million (487) with an adj. EBITA margin of 10.0

percent (9.5)

· Adj. EBITA margin was 9.7 percent, adjusted for calendar effects · Net profit of NOK 328 million (371) · Cash flow from operating activities of NOK 423 million (342) · Earnings per share (EPS) NOK 1.05 (1.23)

Comments from CEO Egil Hogna:

"Norconsult delivered strong growth and stable profitability in the second quarter. Market conditions were mixed, but with an underlying resilience in Nordic building and construction demand.

The award of the Stad Ship Tunnel design and engineering and the strong participation in our annual employee share programme were two notable milestones in the quarter."

Outlook:

The overall market is expected to remain stable, however, with continued uncertainty linked to the geopolitical situation.

The demand in Infrastructure is expected to be stable going forward in line with public spending plans. The private market for Buildings & Architecture is expected to continue as-is. We continue to expect a high level of activity in the energy sector, and a more mixed development in other industry segments as geopolitical factors may further delay investment decisions in certain markets.

Norconsult has considerable flexibility with a diversified mix of services and end-market exposures in the Nordics. Most of the demand for our services comes from the public sector. This makes Norconsult less exposed towards short-term cyclicality in the economy in general.

Norconsult will continue to take proactive measures to improve underlying profitability and maintain efficiency in selected parts of the business

For detailed information, please see the attached report and presentation.

The company will present the results today at 09:00 CET at VIA - House of Oslo, Ruseløkkveien 34, Oslo. The presentation will be held by CEO Egil Hogna and CFO Dag Fladby. The results will also be presented online through a live webcast where the participants will have the opportunity to submit questions.

The live webcast can be accessed at: https://qcnl.tv/p/jQ1CE58wn0IHgfdBIvaXOA

For further information, please contact:

Investors: Christian Salbu Aasland, SVP Investor Relations & Business

Intelligence, IR@norconsult.com

Media: Henrik Charlesen, Senior Communication Advisor,

Henrik.Charlesen@norconsult.com

This information is considered to be inside information pursuant to the EUR Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Elin Spieler, Head of Treasury and Investor Relations Manager, Norconsult ASA at the date and time as set out above.

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About Norconsult:

Norconsult is a leading pan-Nordic interdisciplinary consulting firm combining engineering, architecture and digital expertise across projects of all sizes, for private and public customers in infrastructure, energy and industry, buildings and architecture. Headquartered in Sandvika, Norway, Norconsult's delivery model is centred around knowledge hubs and local presence through approximately 7,200 employees across more than 140 offices in Norway, Sweden, Denmark, Iceland, Poland and Finland.