Orkla (ORK) AGM 2026 summary

Opening remarks and agenda

• Liselott Kilaas opened on behalf of the Chair; legal convening and quorum confirmed, with 77.23% of share capital represented.

• Karl Otto Tveter was proposed as meeting chair.

Financial performance review

• FY2025 operating revenues were NOK 71.5bn, profit before tax NOK 8.4bn and adjusted EPS NOK 6.8, up 13%.

• Consolidated Portfolio Companies delivered 3.5% organic growth, including 0.9% volume/mix growth; underlying adjusted EBIT grew 7% and cash conversion was 101%.

• Cash flow from operations was NOK 7.8bn in 2025 vs NOK 8.1bn in 2024; cash flow before capital allocation was NOK 6.9bn vs NOK 7.0bn.

• Net interest-bearing liabilities were NOK 14.2bn at year-end 2025, down from NOK 16.0bn in 2024; net debt/EBITDA was 1.4x.

• CapEx focused on expanding production in Snacks and Food Ingredients.

Board and executive committee updates

• Christer Kjos and Susanna Campbell were elected to the Board, alongside five re-elected members; Stein Erik Hagen was re-elected Chair.

• Kjos was cited for finance, active ownership and portfolio management experience; Campbell for investment, transactions, board work, impact investing and green transition experience.

• Nomination Committee members and chair were re-elected for two-year terms.