Consensus

Before the publication of Nel ASA’s Q3 2025 results on 29 October 2025, we invite you to provide your input to the analyst consensus estimates by filling in the attached spreadsheet and reply to this email. As in the previous quarters, we have also included input cells for FY’25 and FY’26 and would greatly appreciate your input here as well.

Please send the excel spreadsheet with your consensus contribution by EOB 20 October 2025. Given sufficient contributions, the aggregated numbers will be published on our websites prior to results.

We are aiming to have the consensus estimates published 22 October 2025.

In million NOKQ3 2025
(Excl min/max)
Total revenues and income226
EBITDA-81
Depreciation, amortisation and impairment-66
EBIT-147
Net financial items17
Pre tax income (loss)-130
Tax expense (income)-1
Net income (loss from continuing operations)-125
Capex-71
Number of contributions to consensus9