1. NORDIC VLSI ASA Q1 - 2003 PRESENTATION Svenn-Tore Larsen CEO 7. May, 2003

2. - 1 - Investor Presentation 07-05-2003 AGENDA Financial Update Sales Update Product Division Status

3. - 2 - Investor Presentation 07-05-2003 MAIN SHAREHOLDERS Delphi-fondene (1) 9% Odin-fondene9% Nordea-fondene9% Inak AS8% Firstnordic-fondene6% Ferd Invest6% Nordea Securities (market making) 5% Arne Græe5% Velox4% Employees5% Board members9% Stock options to employees9% (1): Still reporting Delphi and Storebrand separately

4. - 3 - Investor Presentation 07-05-2003 PROFIT AND LOSS ACCOUNT MNOK Sales System on Chip Projects Components Sales Data Converter IP Sales Standard components Other operating revenue Total operating revenue Cost of goods sold Direct project costs Personnel expenses Depreciation Other operating expenses Operating profit/loss Net financial items Profit before taxes Q1, 2003 10.2 4.0 5.0 6.1 0.0 25.3 6.8 2.6 13.5 1.4 7.3 -6.3 1.1 -5.2 Q1, 2002 9.2 4.9 2.8 3.1 0.0 20.0 5.6 2.1 13.7 1.9 4.3 -7.6 1.1 -6.5 2002 56.6 28.4 13.2 6.9 0.1 105.2 25.3 13.8 52.3 7,0 28.9 -22.1 6,7 -15.4 Change Q1-Q1 11% -18% 79% 97% - 27% 21% 24% -1% -26% 70% 17% 0% 20% 41.5 24.5 9.0 16.2 0.1 91,3 22.5 17.6 52,4 5,9 28.0 -35.1 2,1 -33,0 2001

5. - 4 - Investor Presentation 07-05-2003 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 MNOKQ1, 2003 10.4 13.6 8.9 35.9 102.3 87.8 2.0 12.5 102.3 2002 32.8 11.6 13.2 4.8 53.6 116.0 91.6 2.0 22.4 116.0 2001 21.5 7.7 16.5 32.1 80.2 133.8 115.8 2.0 16.0 133.8

6. - 5 - Investor Presentation 07-05-2003 QUARTERLY OPERATING INCOME AND EARNINGS MNOK Operating income Earnings before taxes

7. - 6 - Investor Presentation 07-05-2003 AGENDA Financial Update Sales Update Product Division Status

8. - 7 - Investor Presentation 07-05-2003 SEMICONDUCTOR MARKET STILL SLOW Source:World Semiconductor Trade Statistics Monthly WW Semiconductor Sales (BUSD)

9. - 8 - Investor Presentation 07-05-2003 QUARTERLY OPERATING INCOME, BOOKING AND BACKLOG MNOK

10. - 9 - Investor Presentation 07-05-2003 INCREASING SHARE OF STANDARD PRODUCTS Revenue split 2003Revenue split 2002 (1) SoC Projects excluding components sold (1)

11. - 10 - Investor Presentation 07-05-2003 AGENDA Financial Update Sales Update Product Division Status

12. - 11 - Investor Presentation 07-05-2003 STABLE MARKET FOR SOC PROJECTS SoC Project Status Workforce adjusted to workload Fully utilized but still able to run more more projects 4 new projects started (1 large and 3 smaller projects) Still some personnel active in RF component development, but the number is reduced since last quarter Current projects all executing well Time and result

13. - 12 - Investor Presentation 07-05-2003 ANOTHER GOOD QUARTER FOR SOC COMPONENTS SoC Components Status Increased demand from our customer resulted in a good quarter Current customer forecasts and order backlog indicate significant growth for 2003 Existing portfolio of customers stable runrate New customer contribution expected 2nd half of 2003

14. - 13 - Investor Presentation 07-05-2003 GOOD QUARTER FOR DATA CONVERTERS IP Data Converter Status Record quarter with 5 MNOK in revenues New order for a wireless LAN customer Completed development of several 0.13µm products Strong initial response Strong product portfolio, but target market still very slow

15. - 14 - Investor Presentation 07-05-2003 WORLD LEADING DATA CONVERTER IP Profit Line $$$$$ Product Leadership Segment Focus We believe that in the IP provider business you must be the leading provider in your chosen segment Nordic VLSI is the undisputed leader in high speed data converter IP in TSMC processes Leadership InSilicon Leda ARM Nordic

16. - 15 - Investor Presentation 07-05-2003 JUMP IN SALES OF STANDARD PRODUCTS Standard Components Status Q1 Sales grew 33% from Q4, 2002 nRF2401 successfully launched for production Large volumes of Evaluation Kits shipped Initial prototype series shipments nRF2402 Transmitter launched Production ready in July Will launch two new products for full production this quarter (30 April) nRF24E1 - Tranceiver with microcontroller, AD and peripherals nRF24E2 - Transmitter with microcontroller, AD and peripherals Nordic VLSI established as the undisputed leader in 2.4GHz ISM devices

17. - 16 - Investor Presentation 07-05-2003 25% GROWTH IN SALES OF STANDARD COMPONENTS Standard Components Sales (MNOK) Quarterly Growth Rate 25%

18. - 17 - Investor Presentation 07-05-2003 PRODUCT LEADERSHIP NECESSARY FOR SUCCESS Excellent Support Active Sales Network Product Leadership

19. - 18 - Investor Presentation 07-05-2003 WE SEEK LEADERSHIP WITHIN A FOCUS SEGMENT Complexity/Price 100 Mb/s 10 Mb/s 1 Mb/s 100 Kb/s 10 Kb/s Data rate RF ID Bluetooth Wireless LAN Nordic VLSI ISM band components Nordic’s components perfect for low complexity data transfer ZigBee

20. - 19 - Investor Presentation 07-05-2003 RF used to be Black Magic WE ARE TAKING A SYSTEM LEVEL APPROACH Continuous Focus on Value Added µC RF Chip nRFXXX 110010100110 USB Codec AD/DA Sensors Focus on integrating features and value nRF System

21. - 20 - Investor Presentation 07-05-2003 ADVANCED PROCESS TECHNOLOGY ENABLES NEW PRODUCTS The majority of RF Devices available today is designed with BiCMOS, SiGe or larger CMOS processes, 0.5µm, 0.35µm, 0.25µm Offers limited possibilities to add new features Higher current consumption, voltage supply Cost Our nRF24XX family and new devices under development are all based on an advanced 0.18µm process Low current consumption, voltage supply High level of integration Excellent opportunities to add digital functions

22. - 21 - Investor Presentation 07-05-2003 SUMMARY Positive effect of cost cutting Still highly motivated workforce Successful European Sales Seminar for our European sales partners Major 2.4GHz launch Major customer Systemonic bought by Philips Semiconductors Philips to maintain customer relationship with Nordic Earlier announced co-operation with major consumer customer progressing according to plan