#1TOMRA Systems ASA April 29, 2022 © TOMRA TOMRA INVESTOR PRESENTATION#2TOMRA is well-positioned towards megatrends 1 Pioneer in sensor-based and digital technologies 2 Leading market position - fit for growth Recycling Collection Food Mining #1 #1 #1 #1 3 Solutions for optimal resource productivity TOMRA Circular Economy Strong financial performance, people & culture Revenues Future of Food 12,000 10,000 8,000 MNOK 6,000 4,000 2,000 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 WASTE INTO WEALTH 2#3DID YOU KNOW? By 2025 solid waste generation will increase by 70% compared to 2010 levels 32% of all plastic packaging made ends up in nature every year 20% of plastic packaging could be profitably re-used and 50% could be profitably recycled if designed for after use systems Continuing current practices there will be more plastic than fish in the ocean by 2050 AND Sources: Wrap, Ellen McArthur Foundation, World Bank#4Only 2% of the planet's annual plastic packaging production is reused for the same/similar products 8% CASCADED RECYCLING² 2% CLOSED-LOOP RECYCLING' 4% PROCESS LOSSES 14% COLLECTED FOR RECYCLING 98% VIRGIN FEEDSTOCK 78 MILLION TONNES (ANNUAL PRODUCTION) 14% INCINERATION AND/ OR ENERGY RECOVERY 40% LANDFILLED ELLEN MACARTHUR FOUNDATION 32% LEAKAGE H OUR AMBITION: 40% Collected for Recycling 30% Closed Loop Recycling 4#5DID YOU KNOW? By 2050, a global population of 9.8 billion will require 70% more food than is consumed today We are currently wasting 33% of global food production The food industry accounts for around 10% of global GDP Agriculture accounts for 20% of global greenhouse gas emissions Sources: Wrap, WEE Accenture (Future of Food), McKinsey#6New ways of feeding a fast-growing DEMANDING population... To ensure an efficient food production there is an increased need to... ...AUTOMATE...CONTROL...AND INNOVATE INCREASE YIELD REDUCE WASTE MEET CONSUMER DEMANDS PROTECTING BRAND VALUE, ENHANCING FOOD QUALITY & SAFETY ...THROUGHOUT THE VALUE CHAIN TOMRA PRODUCTION DISTRIBUTION .......... CONSUMPTION Sources: Brookings 6#7At TOMRA, our company vision is Leading the Resource Revolution It is our belief that businesses have the power, responsibility, and vested interest to help manage our planet's precious resources-today and tomorrow. 7#8TOMRA commits to ensure positive sustainability impact both internally and externally TOMRA'S SUSTAINABILITY STRATEGY TOMRA has in 2020 undertaken work to update its sustainability strategy, to prioritize and focus corporate sustainability efforts where they matter most and will have the greatest impact towards both external and internal sustainability outcomes. A key result of the strategy process has been the formulation of three overarching Group sustainability commitments, to ensure and inspire sustainability in our solutions, operations, and relationships. Solutions TOMRA commits to create lasting environmental and social value through our products and services, driving optimal resource productivity in the sectors that we serve Operations TOMRA commits to operate responsibly to minimize any negative sustainability impacts, internalizing social and environmental considerations in the way that we do business Relationships TOMRA commits to operate with integrity and fairness to be an employer of choice and a trusted business partner, inspiring sustainability in all our relations 8#9TOMRA AT A GLANCE#104600+ EMPLOYEES GLOBALLY Publicly listed on Oslo Stock Exchange (OSEBX: TOM) TOMRA 10.9 BILLION NOK REVENUES IN 2021 TOMRA COLLECTION TOMRA RECYCLING MINING TOMRA FOOD MIN REVERSE VENDING MATERIAL RECOVERY RECYCLING MINING PROCESSED FOOD FRESH FOOD 10#11100% Creating value through three business areas TOMRA 2021 Revenue TOMRA 2021 EBITA 100% 30% TOMRA FOOD 80% 80% 17% 60% TOMRA RECYCLING MINING 40% 20% 0% 60% 40% 53% 20% TOMRA COLLECTION Food Recycling Mining Collection 0% 19% 22% 59% Food Recycling Mining Collection 11#12The TOMRA transformation journey 2004 TOMRA SORTING SOLUTIONS TOMRA acquires TITECH, the world's leading provider of optical recognition and sorting technology for the waste industry and TOMRA's transformation journey starts. 2005 TOMRA acquires Orwak Group, a leading provider of compaction for a variety of materials. TOMRA COLLECTION SOLUTIONS 2008 TOMRA SORTING SOLUTIONS TOMRA acquires Ultrasort specialists in sensor-based mining technology. 2011 TOMRA COLLECTION SOLUTIONS Sale of Californian material handling business. With the divestment the US operation became less exposed to movements in commodity prices. 2012 TOMRA SORTING SOLUTIONS TOMRA acquires BEST, leading food sorting machine producer. With the acquisition of BEST, TOMRA has by far the widest reach within the food sorting universe. 2016 Through its transformation journey TOMRA has moved from a business of many brands to one brand with many areas of expertise. We are one TOMRA. 2006 TOMRA acquires Commodas - a leading supplier within the field of sensor-based products for mining and metal recycling. TOMRA SORTING SOLUTIONS 2011 TOMRA SORTING SOLUTIONS TOMRA acquires Odenberg, rounding out the offering to include food optimization. TOMRA 2016 COLLECTION SOLUTIONS 2014 Divestment of Orwak. Further portfolio focus on sensor-based technology. TOMRA SORTING SOLUTIONS TOMRA expands into lane sorting, acquiring New Zealand based Compac, confirming TOMRA's position as the leading provider of sorting technology into the food industry. 2018 TOMRA SORTING SOLUTIONS TOMRA compliments its food sorting portfolio with the acquisition of BBC Technologies, a leading provider of precision grading systems for blueberries and BBC other small fruits. TECHNOLOGIES FROM: 2000 2004 2008 2012 2019 2021 TO: 5% 18% 40% 30% TOMRA® 100% Helping 95% 82% 50% 50% 53% 60% 17% 1 the world recycle ■ Collection ■ Collection ■Sorting ■ Collection ■Sorting ■Recycling Mining LEADING THE RESOURCE REVOLUTION ■ Collection ■ Collection ■ Collection ■Sorting ■Sorting ■ Food 12#13TOMRA's three business areas TOMRA COLLECTION TOMRA RECYCLING MINING TOMRA FOOD REVERSE VENDING Share of '21 sales ~43% Employees 1,856 Customers Grocery retailers Market share ~70% MATERIAL RECOVERY RECYCLING PROCESSED FOOD ~17% ~15% 575 826 Material recovery plants, scrap dealers, metal shredder operators ~55-60% Food growers, packers and processors ~30% MINING Share of '21 sales ~10% ~2% 580 84 Employees Customers Market share Grocery retailers and beverage manufacturers ~60% in USA (markets served) Mining companies ~40-50% TOMRA GROUP FUNCTIONS Employees 34 TOMRA FRESH FOOD ~13% 655 Food growers, packers and cooperatives ~25% 14#14..... Installed base worldwide TOMRA COLLECTION 00000 TOMRA RECYCLING MINING AND FOOD ... REVERSE VENDING RECYCLING MINING PROCESSED FOOD FRESH FOOD Nordic ~16,200 Germany ~30,000 Other Europe ~15,100 EMEA ~5,850 Americas ~1,250 APAC ~1,100 North America ~13,700 EMEA Americas South Africa ~52 APAC/Other ~54 ~35 ~49 EMEA Americas APAC ~4,200 ~3,250 ~900 EMEA ~1,850 Americas ~1,600 APAC ~1,150 Rest of the world ~6,000 TOTAL*) ~81,000 TOTAL ~8,200 TOTAL ~190 TOTAL ~8,350 TOTAL ~4,600 15#15TOMRA COLLECTION 16#16DID YOU KNOW? 1 million plastic bottles are bought around the world every minute Less than half of all purchased plastic bottles are collected for recycling Approximately 42bn beverage containers are captured by TOMRA every year... ...representing only less than 3% of all beverage containers sold in 2018 Source: Euromonitor, GlobalData 17#17But the tides are shifting. There is a desire for change Stop Sete lobal Our Future! CE CE IT'S GETTING IN HOTHERE STOP BUR ALL HAT C THERE IS M WEALTH ON A 67 ET RESPECT YOUR MOTE THIS PLAN FUTURE Card for Your THE EU PLASTICS STRATEGY TOMRA EveryBottleBack.org The Coca-Cola Company Keurig DrPepper™ PEPSICO AMERICAN BEVERAGE ASSOCIATION Consumer demand for responsible plastic use options Legislative push for new plastic waste strategies Market pull from large brand owners and beverage. companies 18#18TOMRA An overview of current deposit markets* Yukon (1992) British Columbia (1970) Oregon (1972) California (1987) Hawaii (2005) Northwest Territories (2005) Quebec (1984) Norway (1999) Iceland (1989) Newfoundland Ontario (2007) (1997) Denmark (2002) Prince Edwardian Island (2008) Netherlands (2005/2021) Alberta (1972) Nova Scotia (1996) Saskatchewan (1988) Manitoba (2008) New Brunswick (1992) Germany (2006) Vermont (1973) Iowa (1979) New York (1983/2010) Northern Territory Michigan (1978) Maine (1978) (2013) Massachusetts (1983) Connecticut (1980/2010) Sweden (1984) Finland (1996) Estonia (2005) Latvia (2022) Lithuania (2016) Slovakia (2022) Croatia (2006/2015) Queensland (Nov 2018) Western Australia (Oct 2020) South Australia (1977) New South Wales (Dec 2017) * In addition, some markets have refillable deposit systems such as: Austria, Belgium, Chile, Czech Republic, France, Hungary, Poland and South Korea 19#19Upcoming deposit markets on the move Quebec: Deposit Return System to be implemented 2023 Connecticut: Expansion of existing deposit system in 2023/2024. Ireland: Scotland: Container deposit scheme planned to start August 2023 Deposit Return System to be implemented 2022/2023 England: Consultation ongoing for a deposit scheme anticipated to be implemented in 2024. Romania: Deposit Return System to be implemented 2022/2023 The Netherlands: Deposit Return System to be extended 2023 Collection target for plastic bottles: 77% by 2025 90% by 2029 Recycled content in product design: 25% by 2025 in PET bottles 30% by 2030 in all plastic bottles EU Single-Use Plastic Directive: Targets on recycled content and collection target for plastic bottles. Deposit scheme mentioned as a mean to reach those targets. TOMRA Austria: Deposit Return System to be implemented 2025 Victoria and Tasmania: Deposit Return System to be implemented in 2023 New Zealand Deposit Return System proposed for 2025 20#20Deposit return systems are extremely effective at capturing items for recycling PET Plastic Beverage Container Collection for Recycling Rates - Europe Average 100% 100% 80% 94% 80% Beverage Container Collection for Recycling Rates - USA Average 88% 72% 60% 60% 40% 40% 47% 20% 20% 27% 0% 0% Containers without a deposit Containers with a deposit Containers without a deposit¹ Containers with a deposit¹ Containers in high- performing DRS2 Compiled from deposit System Operators and "PET Market in Europe: State of Play," Eunomia. 2020. Data available upon request. 1 Aluminum, Glass, Plastic.. "Beverage Market Data Analysis 2017," Container Recycling Institute. 2020. 2 Michigan and Oregon. Bottlebill.org. 2021 21#21High collection rates achieved in two years' time • Return rate and deposit value* for various container deposit schemes Return rate 98% •Deposit value in EUR 95% 92% 92% 92% 92% 0.25 0.25 0.21- 0.31 Germany Netherlands Norway Finland 0.1-0.4 0.1 0.09 0.05 Michigan (US) *Deposit values converted to EUR for comparison purpose TOMRA Lithuania Massachusetts (US) 66% 43% ~40% No deposit No deposit UK France Return rates in Lithuania Prior to container 34% deposit scheme End of 74% year 1 End of year 2 92% Source: Reloop, The Guardian, LeParisien, USAD 22#22Key Information Material CENTRALIZED, NON-PROFIT ADMINISTRATION AND OPERATIONS The centralized DRS model: How it works Retailer Consumers Consumer buys beverage, paying purchase price + deposit Consumers are incentivized to Collects deposit participate through a meaningful deposit value. Beverage company sells beverages to retailer Trust is built into the system's processes through system integrity measures, transparency and reliable redemption technology. Cash Deposit Initiator Producers finance the net costs of the system through an EPR fee and are incentivized to design an effective system for reaching the legislated return-rate target. Pays deposit and admin fee Central System Operator Provides data on sales Container returned to the retailer and deposit refunded. Can return all brands together RVM provides redemption data to CSO CSO pays retailer deposit value and handling fee (higher if retailer has compacting RVM) CSO collects material revenues The CSO uses unredeemed deposits and material revenue to balance the system's budget. Retailer The return-to-retail obligation provides a convenient network of return locations. CSO arranges for containers to be transported to recycler 23#23Reinvestment of unredeemed deposits. and material revenue within the system 100% Profit and loss overview of Norway's Central System Administrator (2019) 14% 13% 49% In Norway over 80% of the system's costs are covered by unredeemed deposits and material revenue 90% 80% 70% 60% 25% 50% 40% 30% 48% 20% 10% 0% 35% Handling fees Transport Other production costs Admin/marketing/depreciation Unredeemed deposits Material sales Expenses 8% 38 8% Other revenues EPR fee Revenue#24Recycled content requirements complement deposit return systems lili Content requirements raise and stabilize a key funding stream for the DRS: commodity value Market values for recycled material are volatile, making investment in collection/recycling risky Lack of a stable market leads to a lack of supply for high-quality recycled material EU Single-Use Plastics Directive targets for plastic beverage bottles Collection targets for plastic beverage bottles Targets for recycled content in plastic beverage bottles 2025 2029 77% 90% Collected containers DRSS ensure containers consumed in a region are collected for recycling TOMRA Unrecovered containers 2025* 25% 2030* 30% Recycled content ■ Virgin plastic * 2025 target for PET beverage bottles only. 2030 target for all plastic beverage bottles. E Recycled content requirements ensure new bottles are made from recycled material 25#25The four principles of high-performing deposit return systems PERFORMANCE CONVENIENCE PRODUCER RESPONSIBILITY SYSTEM INTEGRITY A collection target for a broad scope of beverage packaging plus a meaningful deposit delivers strong results. The redemption system is easy, accessible and fair for everyone. Producers manage, finance and invest in the system with use of unredeemed deposits and commodity revenues. Trust is built into the system's processes through transparent management, a data-driven clearinghouse, and reliable redemption technology. 26#26Reverse vending technology in a high performing DRS TOMRA User communication Sorting & processing OTTINGER TOMRA TR TOMRA FLOW TECHNOLOGY" Recognition system Data administration YO 日 TAS 27#27Business model expertise across deposit systems Retail Sales & Service model Location Other 2 Retailer purchases and takes the ownership of the RVM and TOMRA provides services TOMRA Upfront revenue Profitable service concept Proven track record Low risk Financing return Deam 1 8 8 8 Throughput model HOW TO CLAIM THE YOUR 10: REFUND n retum ret 000 PLASTIC BAGE 〇 High recurring Revenue Swift roll-out Aligned interests TOMRA owns and operates the RVM and receives a fee per container handled by the RVM Utilize financial strength 28#28A "split-responsibility" model is when a network operator provides redemption points and ensures recycling return ANDearn WHICH CONTAINERS CAN BE RETURNED? NSW HOW TO FIND SALE DRINK CONTANER D TOMIA I CLEANA Calectos pa HOW TO CLAIM YOUR 10: REFUND Certos Cartons Plastk C Plastic Cans ELIGIBLE DRINK CONTAINERS Putin DON'T MUJ DON'T BE ATOSSERY return AND eam @00 return AND earn 000 TOMRA Roles and responsibilities in the New South Wales Australia deposit return system New South Wales Government Legislative framework Managing beverage container registrations Managing obligations and performance contracts with scheme coordinator and network operator Exchange for Change Scheme Coordinator TOMRA Cleanaway Network Coordinator Refund point operators Processing providers Beverage suppliers Financial management Scheme auditing Fraud identification Community education Marketing services Collection point Logistics management providers Management of logistics and sale of commodities Recyclers MRFS* Consumers * Material recovery facilities 29#29Cash flow profiles of the two business models Illustrative cash flow profiles per machine Cash flow Year O TOMRA Upfront CAPEX Higher initial sales Higher recurring revenue Sales & Service Throughput Time Throughput model return profile Higher CAPEX needs Up-front investment Bigger risk More responsibility Higher net present value 30#30Flexibility and scalability to enable new business models and new market entry TOMRA PRICE Small stores Discounters/Supermarkets 0.1 -0.3 M UBC/year 0.3 -1 M UBC/year 1-3 M UBC/year CONTAINER VOLUME Redemption centers, small depots etc. Large depots, counting centers 3-5 M UBC/year 5-15 M UBC/year 15-50 M UBC/year#31Advanced digital platform leveraged across stakeholder groups TOMRA TOMRA Productivity Gain John Consumer Engagement API/Data System Integration DIGITAL PLATFORM Retail Productivity Gain 32#32# of installed RVMs 80 000 Market leader in reverse vending solutions 10 000- 80 000 5 000- 10 000 Sielaff 500- 5 000 trautwein sb technik <500 TOMRA REMONDIS RE DEPOSIT 1-10 11-20 21-30 envipco RVM ankerandersen Annual revenue from RVM sales 31-40 >40 Number of RVM markets re Innovation champion Digital platform Trusted partner Leading technology Service network Solutions portfolio Source: TOMRA estimates and analysis#33TOMRA RECYCLING MINING 34#34TOMRA How does sensor-based separation work? tion by ultra fast 35#35TOMRA Focus on the PET stream Packaging Automation with TOMRA units NIR for packaging waste Baler PP Mixed Paper cleaning PE Colored PE Natural ONP Cleaning PET Ballistics (removing films) ONP Double Deck Screen Manual sorting for oversize materials Input Sorting of Municipal Solid Waste, Cyprus 36#36LASER A common sensor-based technology portfolio TOMRA EM LED IRT VIS XRT LIBS XRF COLOR IR ELECTROMAGNETIC SENSOR (EM) Electro-magnetic properties like conductivity and permeability LED SPECTOMETRY (LED) RECYCLING MINING FOOD X X X Color and spectral properties based on multiple LED light sources in very high optical resolution X X X NEAR-INFRARED SPECTROSCOPY (NIR) Specific and unique spectral properties of reflected X X X NIR light in the near-infrared spectrum VISIBLE LIGHT SPECTROMETRY (VIS) Specific and unique spectral properties of reflected light in the visible spectrum X X X-RAY TRANSMISSION (XRT) X X X Atomic density irrespective of surface properties and thickness LASER INDUCED BREAKDOWN SPECTROSCOPY (LIBS) Elemental composition X X-RAY FLUORESCENCE (XRF) X X Elemental composition INFRARED TRANSMISSION (IRT) Density and shape properties by light absorption IR CAMERA (IR) X X Heat conductivity and heat dissipation COLOR CAMERA (COLOR) X X X Color properties measured in very high optical resolution LASER REFLECTION/FLUORESCENCE (LASER) X Structural, elemental and biological properties by reflection, absorption and fluorescence of laser light 37#37TOMRA Recycling: applications and sensor technology MUNICIPAL SOLID WASTE Hard plastics, plastic film, mixed paper, RDF, metals, organics/biomass NIR, VIS, XRT, LASER POST-SHREDDER PACKAGING רר Plastics, plastic film, cardboard, mixed paper, deinking paper, metal NIR, VIS, EM UPGRADING PLASTICS PET, PE, PP, flakes NIR, VIS, EM ELECTRONIC SCRAP PAPER NF metal, stainless steel, copper cables, copper, brass, aluminum NIR, VIS, XRT, XRF, EM, COLOR Printed circuit boards, non-ferrous metal concentrates, cables, copper, brass, stainless steel XRT, XRF, EM, NIR, COLOR Deinking, cardboard, carton NIR, VIS, EM 38#38TOMRA Mining: applications and sensor technology INDUSTRIAL MINERALS DIAMONDS FERROUS METALS Phosphate-silica removal, lime- stone-silica removal, quartz up- grade, MgO2-silica removal, fluorite pre-conc., talc pre-conc., lithium pre-conc., barite pre-conc., COLOR, XRT, NIR NON-FERROUS METALS Kimberlite-waste removal, diamond ROM conc., diamonds final recovery, emeralds ROM conc., rubies ROM conc. COLOR, XRT, NIR SLAG Iron ore grading, hematite pre- conc., manganese pre-conc., chromite pre-conc. XRT, EM, NIR Copper, zinc, gold, nickel, tungsten, silver, platinum group metals XRT, COLOR, EM, NIR Stainless steel slag, ferro silica slag, ferro chrome slag XRT, EM 39#39FIRST-CLASS CUSTOMER SERVICE WORLDWIDE for highest sorting performance for lowest downtime for plannable costs Having the best systems is not enough without a dedicated service team to keep them running in top condition. TOMRA INSIGHT Unlocks new opportunities Secure access to information Connect to POSSIBILITIES 40#40TOMRA # of installed machines >3,000 1,000- 3,000 Recycling: competitive landscape 0-1,000 SGM MSS Revenue from sensor- based sorting A sesotec BTWBINDER OLFGANG MINERAL TECHNIC-PROZETELERING + WELTTED-HIK ELLENC RTT . 10-25 markets 25-50 markets >50 markets Geographic presence TOMRA competitive positioning • Largest installed base • Highest revenues • Broadest technology platform on WR Highest number of applications and markets served . Leading brand • Market share: 55-60% Source: TOMRA estimates and analysis 41#41TOMRA # of installed machines >200 Mining: competitive landscape RADOS Радиометрическое обогащение и сортировка 50-200 MOGENSEN 0-50 Revenue from sensor- based sorting ALSTICH BINDER BTWOLFGANG MINERAL TECHNIK PROTERUNG UMWELTTECHNIK RTT STEINERT 10-25 markets 25-50 markets binder+co >50 markets Geographic presence TOMRA competitive positioning • Wide geographical coverage • Broadest technology platform Leading brand • Market share: 40-50% Source: TOMRA estimates and analysis 42#42RESOURCES ARE FINITE Today: we are paying to get rid of our waste through landfill fees and incineration We are wasting perfectly good materials that can be reused Tomorrow: The Circular Economy is a driver for change Creating value out of waste That is what the Circular Economy is all about TOMRA SORTING SOLUTIONS RECYCLING 43#43The circular economy drives a legislative push... Continued ambitious EU regulations and recycling targets: Attract capital and drives investments European Commission CIRCULAR ECONOMY Closing the loop AN AMBITIOUS EU CIRCULAR ECONOMY PACKAGE CIRCULAR ECONOMY • From Green Fence to National Sword: Short-term demand for recycling solutions in waste exporting countries "A common EU target for recycling 70% of packaging waste by 2030" The Strategy also highlights the need for specific measures, possibly a legislative instrument, to reduce the impact of single-use plastics, particularly in our seas and oceans 洋垃圾 • Limits the import of contaminated recyclable • commodities and increases inspections of recyclable commodity imports ⚫ Purity level set to 99.5% TOMRA Source: European Commission, Recycling Today 44#44TOMRA 2018 CIRCULAR ECONOMY PACKAGE ...promoting recycling Waste Framework Directive Packaging and Packaging Waste Directive Waste Electrical and Electronic Equipment (WEEE) Directive Landfill Directive End of Life Vehicle (ELV) Directive Description • Rules on how waste should be managed in the EU. It provides general principles for doing so, such as the Waste Hierarchy, Polluter Pays Principle and Extended Producer Responsibility. • • Rules on the production, marketing, use, recycling and refilling of containers of liquids for human consumption and on the disposal of used containers ⚫2015 revision includes lightweight plastic carrier bags Collection, recycling and recovery targets for all types of electrical goods • 10 categories: Large household appliances, Small household appliances, IT and telco equipment, Consumer equipment, Lighting equipment, Electrical and electronic tools, Toys, Leisure and sports equipment, Medical devices, Monitoring and control instruments, Automatic dispensers • The objective of the Directive is to prevent or reduce as far as possible negative effects on the environment from the landfilling of waste • In particular: impact on surface water, groundwater, soil, air, and on human health by introducing stringent technical requirements for waste and landfills. • Aims at reduction of waste arising from end-of-life vehicles • The scope of the directive is limited to passenger cars and light commercial vehicles Targets and measures • A common EU target for recycling 60% of municipal waste by 2030 • A common EU target for recycling 70% of all packaging waste by 2030 • A common EU target for recycling 55% of all plastics by 2030 • A binding landfill target to reduce landfill to maximum of 10% of municipal waste by 2030 • Minimum requirements are established for extended producer responsibility schemes • Simplified and improved definitions and harmonized calculation methods for recycling rates • Concrete measures to promote re- use and stimulate industrial symbiosis • Economic incentives for producers to put greener products on the market and support recovery and recycling schemes WASTE ELECTRICAL A WEEE AND TRONIC EQUIPMENT Source: www.ec.europa.eu, letsrecycle.com, www.Eurometrec.org, waste managementworld.com 45#45...and a market pull 100% reusable, recyclable or compostable plastic packaging by 2025 NEW Follow their lead PLASTICS ECONOMY evian ecover Walmart Unilever M&S L'ORÉAL EST. 1884 PEPSICO WERNER & MERTZ amcor MARS incorporated The Coca-Cola Company Large companies committing to use recycled raw materials = increased demand for recycled offtake Source: Ellen McArthur Foundation @ World Economic Forum 46#46Circular Economy - Innovating through collaboration TOMRA TOMA TOMRA TOMIA AUTOSORT Post consumer waste Pre- Washing sorting Flake Compoun Productio ding n sortin g The demo plant covers the process from post consumer waste to production of recycled polymers. 笸 腦 PET PE PE PE PP PP PVC PUR PS Other 8% 30% 19% 10% 8% 6% 19% TOMRA and Borealis, in collaboration with Zimmerman, opened a demo plant for advanced mechanical recycling with the purpose of generating material for brand owners and converters to qualify, validate and prove fit for use in their applications. TOMRA PET is the main polymer type in the market for high quality recycled plastics. However, PET accounts for less than 10% of plastic packaging*. Proving other polymer types is an important enabler of plastic circularity. Henkel "One major challenge towards more circular packaging is the availability of high-quality recycled plastics that can be used in the packaging of our brands." Dr. Thorsten Leopold, Director International Packaging Technology Home Care Henkel *) https://www.plasticseurope.org/application/files/1115/7236/4388/FINAL_web_version_Plastics_the_facts2019_14102019.pdf 47#47Recycling: market growth expectations MARKET DEFINITION RECYLING Sensor-based sorting equipment . excluding cullet glass sorting excluding peripheral equipment and turn-key solutions TOMRA AFFECTING FACTORS Tightening regulation Access to capital Consumer awareness Commodity price fluctuations Political instability (emerging markets) Emerging countries ban CAGR 10-12% 2018 2023 Source: TOMRA estimates and analysis 48#48INTELLIGENT MINE Mining is an old industry. But chances are that it will it look very different in 10 years time Energy intensity and water stress are major drivers... ...for disruptive technology forces to reshape the industry Commodity prices and capex impact the investment sentiment TOMRATIONS MINING#49TOMRA The concept of sensor-based sorting in mining Mining process: Industrial minerals Run of Mine (ROM) Primary Crushing Secondary Crushing Sensor Based Sorting Product Current segment Waste 15% to 50% of the ROM Mining process: Metal mining Run of Mine (ROM) Primary Crushing Sensor Based Sorting can be rejected in an early stage of the process (application dependent) These low grade waste rocks don't need to be transported, crushed, grinded or further treated Beneficiation Plant: Milling Screening DMS Flotation Product Potential new segment Waste Tailings (fines) 50#50TOMRA Mining: market growth expectations Total annual market size • CAGR 15% MARKET DEFINITION MINING Sensor-based sorting equipment is still a technology to be accepted growth is conditional on new applications and technologies being developed AFFECTING FACTORS Political climate Access to capital Commodity price Cost drivers fluctuations 2018 2023 51#51TOMRA FOOD#52FOOD FOR THOUGHT We will need more food in the next 40 years than all the harvests in history combined But farmland is constant - at best The food you eat will have travelled more than you have Sources: Wrap, WEF, Accenture (Future of Food), McKinsey, FAO Sources: WEF 53#53Automation continues on a good growth trajectory From... To... TOMRA Robotics become cheaper, more advanced and user-friendly Higher labor cost and labor shortages Improve efficiency Ensure quality and safety Leverage data insight 54#54TOMRA Creating value in various parts of the food process Potatoes fresh from the field FM sort with product data Storage Reject Rework Repeeling FM sort with product data Wash Peeling Line Hydro cut Preheating FM, quality & size sort with product data Automated true peeler control Reduced loss and water usage Accept Lowest-loss peeling solution FM, quality & size sort with product data Stored in bunkers by size: 1, 2, 3 Product analysis Defect, length & FM sort Sort to grade Product analysis Blanching Drying ** Frying Freezing Defect, length & FM sort Packaging Distribution * 55#55TOMRA Food: applications and sensor technology POTATOES VEGETABLES NUTS DRIED FRUIT SEEDS & GRAINS Chips, French fries, peeled, specialty products, sweet potatoes, unpeeled, washed LASER, CAMERA, BSI, PULSED LED Beans, beets, broccoli, carrots, corn, cucumbers, industrial spinach, IQF vegetables, jalapenos/peppers, onions, peas, pickles LASER, CAMERA, BSI, PULSED LED Almonds, cashews, hazelnuts, macadamias, peanuts, pecans, pistachios, walnuts LASER, CAMERA, X-RAY Apricots, cranberries, dates, figs, prunes, raisins LASER, CAMERA, BSI, X-RAY Barley, coffee, corn, dry beans, lentils, oat, pulses, pumpkin, sunflower and watermelon seeds, wheat LASER, CAMERA, BSI, X-RAY FRUIT FRESH CUT SEAFOOD PROTEIN OTHERS Apples, blackberries, blueberries, cherries, cranberries, peaches & pears, raspberries, strawberries, tomatoes LASER, CAMERA, BSI, PULSED LED Baby leaves, iceberg lettuce, spinach, spring mix LASER, CAMERA Mussels, scallops, seaweed, shrimps, tuna, pet food LASER, CAMERA, BSI, X-RAY, INTERACTANCE SPECTROSCOPY Bacon bits, beef, chicken breasts, hot dogs, IQF meat, pork, pork rind, sausages, pet food LASER, CAMERA, BSI, INTERACTANCE SPECTROSCOPY Gummies, Tobacco LASER, CAMERA 56#56Our products are detecting a wide range of parameters 0 Color Removal of discolorations in mono- and mixed-color material Blemishes Objects with spots or other (small) blemishes are removed Defects Removal of visible and invisible small and substantial defects Structure Removal of soft, molded or rotten food Shape & Size Sort on length, width, diameter, area, broken-piece recognition, ... Biometric Characteristics Sort based on water content and removal of mycotoxin contaminations Foreign Material Removal of foreign material in a material stream, e.g. insects, worms, snails or plastics in food applications Fluo Based on the chlorophyll level present in produce defects are removed OPERATIONAL EFFICIENCY REDUCES COSTS SORTING VALUE PROPOSITION P Density Detection of density differences О TOMRA Damage Broken, split and damaged objects are detected and removed Visible Invisible Both There are three main components to our value proposition X-RAY Analysis of objects based on their density and shape Detox Removal of produce contaminated with aflatoxin INCREASED PURITY OF MATERIAL STREAM INCREASES REVENUE 57#57New sensor technologies will unlock new opportunities... • From measuring visual appearance... FULL COLOUR 2 IMAGING 1 MONOCHROME IMAGING TOMRA SPECTROSCOPY 3 TOMOGRAPHY 4 ... to measuring Internal defects Taste Shelf life / Freshness Food hazards 58#58Top Food Categories Potatoes Nuts & Dried Fruit Vegetables Apples Citrus Berries TOMRA Cherries Fresh Cut Avocados Kiwifruit Grains & Seeds 59#59Three ways of sorting within the Food segment Free fall (Channel / Chute) Application Sensor tech. Seeds, rice, grains Camera (simple) Revenue share* Approx. 60% Chute or Channel sorter Belt Application Sensor tech. Prepared/preserved veg. and fruit Several (complex) Revenue share Approx. 20% Infeed shaker or hopper (unsorted) 2 BSI module 3 Lasers 4 Precise air guns 5 Accept/reject On belt inspection Lane Application Sensor tech. Revenue share Fresh produce Several (medium) Approx. 20% TOMRA Infeed belt (unsorted) 2 Cameras 3 Lasers 4 Precise air guns 5 Accept/reject ............ Lane grading 2 3 Acumulation Conveyor 2 Singulation Conveyor 3 Acceleration Conveyor Roller Rotation Units 5 Pulsed LEDs and Cameras 6 Air Jets 7 Specified Grade *Estimated total revenue within the food sorting segment 60#60TOMRA has established the broadest footprint within food sorting TOMRA Free fall TOMRA SORTING SOLUTIONS FOOD Belt SK Rice, Seeds & Kernels NDF PFV Fresh Nuts & Dried Fruit Processed Fruits, Veg & Potatoes Fruit, Vegetables & Potatoes TOMRA TOMRA CHANNEL CHUTE TOMOA BULK SORTING TOMBA TONDA BELT AIR Lane BBC TECHNOLOGIES Ở compac LANE/MULTI-DROP SINGULATED SORTING spectrim inspectra2 *Approximately 5% of annual global sorter sales revenue comes from other segments, like confectionary 61#61TOMRA Freefall # of installed machines >3,000 Food competitive landscape III MEYER TAIHO泰 DAEWON GSI SK SATAKE KEY Technology 1,000- 3,000 C(MBR)) insort 0-1,000 OPTIMUM SORTING GREEFA NEWTEC Ser mac9pgraders REEMOONO UNIEC Wapwork for your results ellips NEXT LEVEL GRADING Revenue from sensor- based sorting and related peripherals 10-25 markets 25-50 markets Geographic presence BUHLER SORTEX Belt MaF RODA AWETA >50 markets TOMRA competitive positioning • • Broadest and deepest technology base Widest range of categories and applications Most comprehensive geographic reach (~80 countries) Lane Source: TOMRA estimates and analysis 62#62Recycling, Mining and Food Connected Sorters TOMRA Insight Users 01/2018 01/2019 01/2020 01/2021 Connect POSSIBILITIES 01/2022 TOMBA 田 TOMRA ✓ INSIGHT#63TOMRA Sorting & Grading Global Leader 1. PROCESSED FOOD INDUSTRY OF SORTING AND PEELING SOLUTIONS TOMRA FOOD compac BBC TECHNOLOGIES Packing } Data & Analytics PRODUCE INDUSTRY TURNKEY SOLUTIONS FOR SORTING, Infeed & Treatment Materials Han Artificial Intelligence Q Service & Support 64#64Our food sorting customers PROCESSED FOOD INDUSTRY BLUE DIAMOND ALMONDS Tyson FRESH PRODUCE INDUSTRY S PEPSICO KINGS RIVER SUN ORCHARD utz Paramount Farms Pistachios & Almonds ConAgra Foods BAKKAVOR SUN-MAID McCain Bonduelle Nestle SUNSWEET SPC ARDMONA Heinz Del Monte Baxters Simplot FOOD GROUP Quality BRANSTON Pom Alliance ardo о APPLES UNIVEG Cycle of Freshness FAMILY OWNED Easterday GROWN AND SINCE 195 SCHOONBEE LANDGOED unparalleled quality halos Calavo CRASBORN EP EastPack WWWORLD CLASS ORCHARD TO MARKET Wonderful citrusTM costa fresh is our passion Del Monte) Quality WASHINGTON ZUR GROUP Austral Fruit Trevelyan's where growers come first naturipe BERRY GROWERS, INC. SINCE 1917 United exports generation FARMS- Driscoll's MrAPPLE NEW ZEALAND FRUIT & PRODUCE CO. Only the Finest Berries" Primavera AGRICOM ECO-FARMS FRUIT TITAN CERTIFIED ORGANIC 天天果园 FARMS Sunkist FowlerPacking Zespri Kiwifruit TotalBerry WEST PAK Gourmet. AVOCADO, INC. Zirkle FRUIT COMPANY TOMRA 65#651400+ TOMRA FOOD TEAM 32 GLOBAL OFFICES 4 PRODUCTION FACILITIES TOMRA Food Locations B WHERE ARE WE LOCATED TOMRA Food Compac BBC Technologies PRESENCE 80 countries 66#66TOMRA Market growth expectations - food CAGR 6-8% . MARKET DEFINITION FOOD Sensor-based sorting and grading equipment • Including color sorting Excluding peripheral equipment and turn-key solutions Fresh and processed segment AFFECTING FACTORS Weather conditions Raw material pricing Manual labor availability and cost Urbanization and living standards 2018 2023 Global trade agreements and tariffs Geopolitical and other global events Source: TOMRA estimates and analysis 67#67HISTORICAL GROUP FINANCIALS AND TARGETS#68MNOK Group financials development - solid track record Revenues 12,000 Gross contribution and margin 5,500 10,000 8,000 6,000 4,000 2,000 50% 5,000 45% 4,500 40% 4,000 35% 3,500 30% ΧΙΟΝΙ 3,000 25% 2,500 20% 2,000 1,500 1,000 500 0 0 H 15% 10% 5% 0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 EBITA and margin 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 MNOK TOMRA Earnings per share 8.00 20% 18% 7.00 16% 6.00 14% 12% 10% 8% NOK per share 5.00 4.00 3.00 6% 2.00 4% 1.00 2% 0% 0.00 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Does not include discontinued operations (California divested 2011 and Orwak divested 2014), except for EPS 69#69Currency risk and hedging policy Measured against NOK 110 105 100 95 90 *Average 1Q22 vs 1Q21 10% change in NOK towards other currencies will impact: Revenues Expenses EBITA USD/NOK +3.9%* EUR* 4.5% 4.0% 7.0% USD 3.5% 2.5% 8.0% OTHER² 2.0% 3.0% -4.0% EUR/NOK -3.3%* ALL 10.0% 9.5% 11.0% 1Q21 85 2Q21 3Q21 4Q21 1Q22 EUR USD HEDGING POLICY Revenues and expenses per currency: CASHFLOW AND P/L EUR¹ USD NOK OTHER² TOTAL Revenues 45% 35% 0% 20% 100% Expenses 40% 25% 5% 30% 100% Assets and liabilities per currency: EUR¹ USD NOK OTHER² TOTAL Assets 45 % 15% 10% 30% 100% Liabilities 55 % 15% 10% 20% 100% B/S TOMRA can hedge up to one year of future predicted cash flows. Gains and losses on these hedges are recorded at the finance line, not influencing EBITA TOMRA only hedges B/S items where exchange rate fluctuations could have P/L impact. Gains and losses on B/S hedging are recorded in accordance with IAS 21 and will normally not have P/L impact 1 EUR includes DKK ² Most important: AUD, NZD, RMB, CAD, SEK, GBP and JPY NOTE: Estimated and rounded figures TOMRA 70#70Financial highlights | Balance sheet and cash flow 31 March 31 Dec Cash flow from operations 2022 Amounts in NOK million ASSETS 2021 2021 1800 1600 11,821 10,806 11,589 1400 Intangible non-current assets 3,742 3,737 3,790 1200 1000 Tangible non-current assets 2,269 2,263 2,197 800 600 Financial non-current assets 388 362 347 400 200 Inventory 1,921 1,571 1,883 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Receivables 2,881 2,419 2,740 Min 2019-2021 Max 2019-2021 2019 2020 2021 -2022 Cash and cash equivalents 619 454 632 LIABILITIES AND EQUITY 11,821 10,806 11,589 . Equity 6,249 5,568 6,164 Cashflow from operations Cash flow from operations of 166 MNOK in the first quarter 2022 (269 MNOK in first quarter 2021) Lease liabilities 758 1,047 1,015 Solidity and gearing Interest-bearing liabilities 1,163 1,300 1,004 • 53% equity ratio Non-interest-bearing liabilities 3,651 2,891 3,406 • NIBD/EBITDA (rolling 12 months) of 0.5x including IFRS 16 TOMRA 71#71TOMRA MNOK - TOMRA Collection – segment financials Revenues 6,000 Gross contribution and margin 2,600 50% 5,500 2,400 45% 5,000 2,200 40% 4,500 35% 2,000 4,000 3,500 MNOK 30% 1,800 25% 1,600 20% 3,000 1,400 15% 2,500 1,200 10% 2,000 1,000 1,500 800 H 5% 0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 MNOK EBITA and margin 1,200 22% 20% 1,100 18% 1,000 16% 900 14% 800 12% 700 10% 8% 600 6% 500 4% 400 2% 300 0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 72#72TOMRA MNOK Revenues TOMRA Recycling Mining - segment financials Gross contribution and margin 1,950 1,050 0.6 1,900 0.5 1,850 1,000 1,800 0.4 950 1,750 1,700 MNOK 0.3 900 1,650 0.2 1,600 850 0.1 1,550 1,500 800 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 MNOK EBITA and margin 420 0.24 0.22 400 0.2 0.18 380 0.16 0.14 360 0.12 0.1 340 0.08 0.06 320 0.04 0.02 300 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 73#73TOMRA MNOK TOMRA Food - segment financials Revenues 3,500 Gross contribution and margin 1,500 0.45 0.4 3,000 2,500 2,000 1,500 1,000 1,400 0.35 1,300 0.3 MNOK 1,200 0.25 0.2 1,100 0.15 1,000 0.1 500 900 0.05 0 800 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 MNOK EBITA and margin 400 0.12 350 0.1 300 0.08 250 200 0.06 150 0.04 100 0.02 50 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 74#74TOMRA Our ambitions 2018-2023 Revenue growth EBITA- margin >10% CAGR on average Dividend payout Capital Structure ROCE new Circular Economy 8% CASCADED RECYCLING 25 CLOSED-LOOP RECYCLING! 4 PROCESS LOSSES 14% COLLECTED FOR RECYCLING NCNERATION AND 98% VIRGIN FEEDSTOCK 78 MILLION TONNES [ANNUAL PRODUCTION) 44 LANDFILLED IN LEAKAGE Future of Food 40-60% projects of EPS Towards >18% Maintain investment grade profile >20% 75#75EU Taxonomy - preliminary¹) assessment 60% O TOMRA Collection and transport of non-hazardous waste in source segregated fractions Climate change mitigation Material recovery from non-hazardous waste (a) climate change mitigation (b) climate change adaptation (c) sustainable use and protection of water and marine resources (d) transition to a circular economy Manufacture of machinery enabling closed- loop systems, and high-quality waste collection and waste management²) ACTIVITIES Transition to a circular economy OBJECTIVES (e) pollution prevention and control (f) protection and restoration of biodiversity and ecosystems TOMRA 1) The assessment of Taxonomy-aligned activities is a preliminary indication, and it might change 76 2) Based on the draft criteria presented for public consultation by the Platform on sustainable finance (https://ec.europa.eu/info/publications/210803-sustainable-finance-platform-technical-screening-criteria-taxonomy-report_en), which is not an official Commission document#76TOMRA Shareholder structure Top 10 shareholders as of 31 March 2022*) Shareholders by country**) 1 Investment AB Latour 31 200 000 21,1% 2 Folketrygdfondet 12 511 785 8,5% 11% 3 APG Asset Management 7 094 564 4,8% 6% 33% 4 BlackRock 6 013 502 4,1% 6% 5 Candriam 3 785 372 2,6% 9% 8 00 6 Handelsbanken Vanguard AllianceBernstein 3 518 237 2,4% 3 368 132 2,3% 2 640 297 1,8% 9% 13% 12% 9 Impax Asset Management 2 603 940 1,8% 10 Alfred Berg Kapitalforvaltning 1936 005 1,3 % Sum Top 10 68 030 788 50.4% Sweden Luxembourg ■ Belgium Other shareholders 73 348 244 49.6% ■ Ireland United States Norway ■United Kingdom ■ Other TOTAL (11.916 shareholders) 148 020 078 100.0% *) ultimate ownership accounts based on available information **) ownership data includes nominee accounts Source: IPREO, VPS 77#77Copyright The material in this Document (which may be a presentation, video, brochure or other material), hereafter called Document, including copy, photographs, drawings and other images, remains the property of TOMRA Systems ASA or third-party contributors where appropriate. No part of this Document may be reproduced or used in any form without express written prior permission from TOMRA Systems ASA and applicable acknowledgements. No trademark, copyright or other notice shall be altered or removed from any reproduction Disclaimer This Document (which may be a presentation, video, brochure or other material), hereafter called Document, may include and be based on, inter alia, forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. The content of this Document may be based on current expectations, estimates and projections about global economic conditions, including the economic conditions of the regions and industries that are major markets for TOMRA Systems ASA and its subsidiaries and affiliates. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates" or similar expressions, if not part of what could be clearly characterized as a demonstration case. Important factors that could cause actual results to differ materially from those expectations include, among others, changes in economic and market conditions in the geographic areas and industries that are or will be major markets for TOMRA Systems ASA. Although TOMRA Systems ASA believes that its expectations and the Document are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in the Document. TOMRA Systems ASA does not guarantee the accuracy, reliability or completeness of the Document, and TOMRA Systems ASA (including its directors, officers and employees) accepts no liability whatsoever for any direct or consequential loss arising from the use of this Document or its contents. TOMRA Systems ASA consists of many legally independent entities, constituting their own separate identities. TOMRA is used as the common brand or trademark for most of these entities. In this Document we may sometimes use "TOMRA", "TOMRA Systems", "we" or "us" when we refer to TOMRA Systems ASA companies in general or where no useful purpose is served by identifying any particular TOMRA Company. I AM A RESOURCE REVOLUTIONA 78