Orkla's consolidated portfolio companies (incl. Orkla ASA) increased EBIT (adj.)
for the fourth quarter by 11% to NOK 1.6 billion. Orkla's board of directors
intends to propose a total dividend for the accounting year 2024 of NOK 10 per
share. Orkla also announces the sale of 100% of the shares in Pierre Robert
Group.

Orkla's turnover increased in the fourth quarter by 6% to NOK 18.8 billion
mainly related to volume growth and price increases for the consolidated
portfolio companies, in addition to apartment deliveries in Orkla Real Estate.
Orkla group EBIT (adj.) was NOK 2.0 billion for the period. Orkla's "other
income and expenses" amounted to minus 197 million, primarily related to write
-downs of NOK 121 million in Pierre Robert Group.

"Orkla's good performance continued in the fourth quarter. We achieved solid
EBIT (adj.) growth, improved operating margins and increased cash flows in our
consolidated portfolio companies. It is encouraging that most of our companies
have delivered organic revenue growth and continued to invest to strengthen
their market positions through a significant increase in advertising spend,"
says Orkla President and CEO Nils K. Selte.

Profit from Orkla's 42.7% ownership share in Jotun was NOK 370 million. The
result was driven by continued good sales momentum across all segments and EBITA
growth of 17%.

Profit before tax totalled NOK 1.9 billion, a year-over-year increase of 45%.

Financial results 2024
In 2024, Orkla's consolidated portfolio companies (incl. Orkla ASA) achieved
EBIT (adj.) of NOK 7.0 billion. This is an improvement of 17% from 2023.

For the full year, Orkla's turnover increased by 4% to NOK 70.7 billion. Profit
from associates amounted to NOK 1.9 billion, in line with 2023. Profit before
tax was NOK 8.1 billion, and earnings per share (adj.) was NOK 6.44, an increase
of 11%.

"Our first priority is to drive organic value in the existing portfolio. During
every quarter of 2024, underlying EBIT (adj.) growth, EBIT (adj.) margins, and
return on capital employed improved in line with our targets for the strategy
period. We have also continued to simplify the portfolio to build a platform for
future growth," says Selte.

Dividend proposal
On the back of increased cash flows, solid balance sheet and the sale of Orkla's
hydro power assets, the Board of Directors intends to propose an increase in the
ordinary dividend to NOK 4.00 per share for 2024, and an additional dividend of
NOK 6.00 per share.

Reducing portfolio complexity
Since the Capital Markets Day in November 2023, Orkla has taken several steps to
reduce complexity in the existing portfolio in line with Orkla's strategy to
become an industrial investment company. These include the partnership with
Rhône for Orkla Food Ingredients, as well as the sale of Lilleborg to Solenis.
In January 2025, Orkla entered into an agreement to sell its hydro power
portfolio.

Sale of Pierre Robert Group
Orkla has entered into an agreement to sell 100% of the shares in Pierre Robert
Group (PRG) to Jotunfjell Partners. PRG sells basic textiles and woolen garments
in Norway, Finland and Sweden. The transaction values PRG at NOK 23 million on a
cash and debt-free basis. Upon closing, Orkla will have an estimated accounting
loss of NOK 40 million from the sale. The agreement is conditional on approval
by Norwegian competition authorities.

About Orkla ASA
Orkla ASA is a leading industrial investment company. Its scope of activity is
brands and consumer-oriented companies. At present, Orkla has 11 portfolio
companies operating in segments including paints, food, chocolate, sweets and
snacks, health products and food ingredients. In 2024, Orkla generated revenues
of NOK 70.7 billion and achieved a pre-tax profit of NOK 8.1 billion. The Orkla
Group has approximately 20,000 employees. Orkla is headquartered in Oslo,
Norway, and is listed on the Oslo Stock Exchange.

Orkla ASA

Oslo, 13 February 2025
Ref.:

SVP Investor Relations & Communication
Annie Bersagel
Tel.: +47 986 03 664

VP Financial Communication
Joachim Gresslien
Tel.: +47 907 25 018

An Excel spreadsheet with key figures may be found at
https://investors.orkla.com/

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Ole Andreas Steensland Dahl,
Investor Relations Manager at Orkla ASA, on 13 February 2025 at 07:00 CET.