NKT HOLDING A/S, 12 MAY 2009, ANNOUNCEMENT NO. 10 With consolidated revenue of 2,635 mDKK and operational EBITDA of 147 mDKK, developments in 1st quarter 2009 were on a par with expectations. Although the economic downturn is having a negative effect, operating activities generated positive cash flow of 167 mDKK and market shares are being won by Nilfisk-Advance SUMMARY Overall organic growth of -12% and a fall in operating income (EBITDA) of 158 mDKK were realized in 1st quarter 2009. This equated with an EBITDA margin of 6.3%, as compared with 11.3% in 1st quarter 2008. Collectively, the results realized were in accordance with the expectations for 1st quarter 2009. Expectations for 2009 are unchanged compared with stock market announcement no. 5 issued on 5 March 2009. Operating income (EBITDA) of around 700-900 mDKK is therefore still expected. NKT Cables realized negative organic growth of 14%, primarily caused by the general economic slowdown that has resulted in a substantial fall of 25% in sales of low voltage products to the building and construction sector. Sales to the high voltage sector and sales of catenary wires particularly, which in 1st quarter 2009 were up by 48% on the same period in 2008, are having positive influence, however. Operating income (EBITDA) measured in standard metal prices was 1.5% for 1st quarter 2009 compared with 10.4% for the same period in 2008. Construction of the new high voltage factory in Cologne is proceeding to plan and pilot production began in April. In January, NKT Cables signed a 750 mDKK contract for the supply of high and medium voltage armoured subsea cables, and in March the company signed a conditional joint venture agreement concerning production and sale of high voltage cables in China. Nilfisk-Advance realized organic growth of -12%, the negative trend being equally pronounced in all regions. Despite the lower utilization of capacity the company succeeded in maintaining its gross profit in the 1st quarter. Operational EBITDA margin was 8% for 1st quarter 2009 compared with 10.4% for the same period in 2008. The implementation of a large number of structural and adjustment measures, previously referred to, is proceeding to plan. One effect of these measures has been to reduce the number of employees by more than 700 (14%) compared with the same time in 2008. Around 20 mDKK was spent on these measures in the 1st quarter. 1st quarter cash flow from operating activities was satisfactory, 167 mDKK, as compared with -250 mDKK in the same period last year. The improvement was partly attributable to a 1st quarter reduction in consolidated working capital of 161 mDKK. Interest bearing debt at 31 March 2009 was 2.3 bnDKK, which was similar to the end of 2008. NKT's capital resources have been further increased in 2009 and are adequate at the present time, cf. Fig. 3 page 4.