1. NORDIC SEMICONDUCTOR ASA Q2 - 2004 PRESENTATION Svenn-Tore Larsen CEO 15th of July, 2004

2. - 1 - Nordic Semiconductor 15-07-2004 AGENDA Financial Update Sales Update Product Division Status

3. - 2 - Nordic Semiconductor 15-07-2004 KEY FIGURES Revenues Operating profit Earnings before taxes (EBT) Earnings per share (28% tax) Bookings Backlog Q2, 2004 54,9 10,1 10,7 0,25 72,3 85,4 Q2, 2003 20,2 -7,5 -7,1 (-0,18) 26,5 50,1 Change 171% - 173% 70%

4. - 3 - Nordic Semiconductor 15-07-2004 PROFIT AND LOSS ACCOUNT MNOK COMPONENTS Std. Components SoC Components CONSULTING SoC Projects Data Converter Other operating revenue Total operating revenue (1) Cost of goods sold Direct project costs Personnel expenses (2) Depreciation Other operating expenses EBIT Net financial items EBT Q2, 2004 32,6 5,5 9,3 7,5 0,0 54,9 20,3 2,1 13,7 0,7 8,0 10,1 0,6 10,7 Q2, 2003 5,0 3,7 7,8 3,7 0.0 20,2 5,9 2,1 10,8 1,2 7,7 -7,5 0,5 -7,0 2003 16,2 24,5 41,5 9,0 0.1 91,3 22,5 17,6 52.4 5,9 28.0 -35,1 2,0 -33,0 Change Q2-Q2 6,5 X 49% 19% 103% - 172% 3,4 X 0% 27% -42% 4% - 28,0 24,1 39,6 18,6 0.0 110,3 34,2 8,8 51,0 5,3 29,4 -18,4 1,8 -16,6 2002 (1)2.0 MNOK development grant incl. (2) 1.6 MNOK employee option tax incl.

5. - 4 - Nordic Semiconductor 15-07-2004 BALANCE SHEET Fixed and long term assets Inventories Accounts receivables Other receivables Cash and cash equivalents Total assets Equity Long term liabilities Current liabilities Sum equity and liabilities MNOKQ2 2004 27,5 15,6 36,9 3,6 44,6 128,2 94,0 0,0 34,2 128,2 2003 32,7 15,3 18,7 2,0 37,1 105,8 79,4 2,0 24,4 105,8 2002 32.8 11.6 13.2 4.8 53.6 116.0 91.6 2.0 22.4 116.0

6. - 5 - Nordic Semiconductor 15-07-2004 MAIN SHAREHOLDERS/STOCK OPTIONS Odin-fondene9,1% Ferd Invest6,8% Delphi-fondene 6,6% Arne Græe6,0% Fidelity6,0% Inak AS5,8% Edvin Austbø5,2% Firstnordic-fondene4,4% Velox4,2% Foreign investors (27 shareholders)11,0% Employees5,8% Board members8,9% Stock options to board members2,6% Stock options to CEO2,6% Stock options to employees8,5% Total number of shareholders: 655

7. - 6 - Nordic Semiconductor 15-07-2004 STRONG GROWTH IN REVENUE AND POSITIVE RESULT Quarterly Operating Income And Earnings MNOK Operating income Earnings before taxes

8. - 7 - Nordic Semiconductor 15-07-2004 AGENDA Financial Update Sales Update Product Division Status

9. - 8 - Nordic Semiconductor 15-07-2004 OVERALL MARKET STRONG Semiconductor Market Source:World Semiconductor Trade Statistics / SIA Monthly WW Semiconductor Sales (BUSD)

10. - 9 - Nordic Semiconductor 15-07-2004 GROWTH DRIVEN BY ASIA Semiconductor Market Per Region Source:World Semiconductor Trade Statistics / SIA Monthly WW Semiconductor Sales (BUSD) Asia-Pacific Japan Europe Americas

11. - 10 - Nordic Semiconductor 15-07-2004 RECORD REVENUE AND BACKLOG Quarterly Operating Income, Booking And Backlog MNOK

12. - 11 - Nordic Semiconductor 15-07-2004 STANDARD COMPONENTS DOMINATE REVENUE Revenue Split 2002 - 1H 2004 (1) SoC Projects excluding components sold (1)

13. - 12 - Nordic Semiconductor 15-07-2004 GROWTH DRIVEN BY STANDARD COMPONENTS Summary of Financial Status Strong quarter Record revenue of 54.9 MNOK Standard Component Revenues of 32.6 MNOK Quarter to quarter growth of 34% 10.7 MNOK in profits, 19.5% of turnover Record turnover, Backlog is 85.4 MNOK Book/Bill : 1.34 Book/Bill for standard components : 1.38

14. - 13 - Nordic Semiconductor 15-07-2004 AGENDA Financial Update Sales Update Product Division Status

15. - 14 - Nordic Semiconductor 15-07-2004 HIGH DEMAND FOR OUR 2.4GHz PRODUCTS Standard Components Status Quarterly growth: Q1- 2004 to Q2- 2004; 80% Revenue/Booking 32.6 Revenue 45.0 MNOK Booking Book/Bill: 1.38 New production capabilities on-line 315 new evaluation kits sold this quarter nRF9E5 and nRF905 in production Volume shipments in Q2 exceeds expectations Next generation products on schedule and will launch end of year

16. - 15 - Nordic Semiconductor 15-07-2004 NEW PRODUCT FAMILIES ARE DOMINATING REVENUE Revenue Split Q2- 2003 to Q2-2004 Revenue from Standard Components (MNOK)

17. - 16 - Nordic Semiconductor 15-07-2004 STABLE ACTIVITY OF CUSTOMER PROJECTS SoC Project Status Four major projects taped out Component deliveries expected in Q4 Two new projects started Value added with Nordic IP All projects on track RF-ASIC program in progress for release in Q3 Custom nRF components program

18. - 17 - Nordic Semiconductor 15-07-2004 GOOD QUARTER FOR SOC COMPONENTS SoC Components Status Two new components into volume On track for 8 new component releases into volume production during 2004 Good component booking for delivery in coming quarters

19. - 18 - Nordic Semiconductor 15-07-2004 DATA CONVERTER IP MARKET SHIFTS TOWARDS 0.13um IP Data Converter Status First 0.13um IP license sold and R&D efforts to strengthen 0.13um IP portfolio High activity in Japan One new license to new customer and several strong prospects Increased focus on key application segments

20. - 19 - Nordic Semiconductor 15-07-2004 SCALABLE BUSINESS MODEL PROVEN Strong growth in Revenue with marginal growth in fixed cost has lead to solid quarterly profits We still consider to be early in the product life-cycle for our 2.4GHz products Continued design-wins Hong Kong office opened to address strong Asian market New local Sales Professional Existing Area Manager relocated Asian warehouse established Highly motivated organization enjoying success