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COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE Antennas Customer/country: Order: ITT Industries, USA - Comrod is the main supplier for antennas to the international programs Harris RF Communications, USA - Comrod now has a 3 year OEM agreement for HF and VHF antennas and lightweight masts UK MOD BOWMAN - Contract has since awarded been substantial for the Company. The program has included all HF, VHF and UHF vehicle antennas together with lightweight masts. At the peak in 2004 this contract amounted to more than 25% of the year’s turnover. Racal Antennas, England - A strategic partner that Comrod has had numerous programs with during the last 10 – 15 years, including BOWMAN FMV, Sweden (Swedish MOD) - Has been an active customer for Comrod since the late 1980s Kongsberg Group, Norway - An important customer for both antennas and power supplies/battery chargers to the Norwegian MRR and LFR program Thales Group, France - Very important customer for Lerc, Lerc being the main antenna manufacturer for Thales France and most of its subsidiaries overseas. Lerc has indirectly sold antennas in more than 70 countries through Thales France. DGA, French MOD - Has been an active customer for Lerc during the last 30 years, spare parts as well as new programs Belgian Army - A very active customer for Lerc in Antennas Australian Army - Major contract delivered in the 1980s. Lerc currently distributes spare parts directly Masts Below is an overview of the most important customers for masts. Customer/country: Order: Thales Group, France - Very important customer for Lerc, Lerc being the main mast manufacturer for Thales France and main export programs DGA, French MOD - Has been an active customer for Lerc during the last 30 years, Buys mostly spare parts. US Army - Buys mostly spare parts after a major contract delivered between 1989 and 1998 through Harris Corporation ULTRA ELECTRONICS, Canada - Buys masts for US Army and Canadian Army programs Spanish Army - New customer for LERC in motorized masts for Electronic Warfare and radars Industrial products Below is an overview of the most important customers for the Company’s industrial products. Customer/country: Order: SNCF, France - French railroad system, important customer SNCB, Belgium - Belgium railroad system, very large customer over several years Siemens, Germany - Important customer, different insulators SNECMA, France - Various dedicated applications Ultra Electronics, USA/Canada - Stable customer ALSTOM - Important customer Porsche, Germany - Various installations for different customers 39
COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE Power Below is an overview of the most important customers for the Company’s power supply products. Customer/country: Order: Kongsberg Group, Norway - Very large customer over several years FMV, Sweden (Swedish MOD) - Has been an active customer DOD, Canada - Important customer 5.6.4 Major Contracts Below is a list of some of the major ongoing contracts that the Company has entered into during the past three accounting years. Year: Customer/program: Contract value: Length of contract: 2001 CHF program for French Army: 1,000 masts of Approx. MEUR 15 2008 20m for LOS system 2002 GSM/R contract with French and Belgian Approx. MEUR 2.5 2010 Railways 2002 BOWMAN contract including all vehicle (and approx. MNOK 150 Ending 2006 for bulk one manpack) antennas for UK MOD 2002 LINX & SAEC programs – Unmanned masts for Approx. MEUR 2.5 2007 EW – French Army 2003 15 year OEM agreement with Rohde & Schwarz, till 2018 Germany 2003 Contract for antenna systems to the Swedish approx. MNOK 22 Visby stealth corvettes 2003 Greece antenna contract approx. MNOK 14 Ongoing till 2009 2004 Spareparts Switzerland (delivered 2004) approx. MNOK 12 2004 2005 Kuwait MOD contract (delivered 2005) approx. MNOK 35 2005 2005 Spare parts contract for 10 years to the 2015 BOWMAN program 2005 OEM Contract with Harris RF Communications, 2008 USA 2005 Croatia LOS mast program approx. MNOK 5 2006 2006 FMV contract for Submarine antenna switch 2006 + options system 2006 Contract for HF Broadband study approx. MNOK 1.6 2006 2006 ITT, Saudi Arabia SANG approx. MNOK 20 2007 2006 Mast program, France approx. MNOK 50 2010 Other than the contracts mentioned above and the loan agreement described in section 7.6.3 the Company is not dependent on any industrial, commercial or financial contracts. 5.6.5 Order book Given the nature of the Company’s products and the market in which the Company operates, many deliveries will take place over a period of time. At the end of 2006 the Company had a strong order book, totalling about NOK 122 million. This is a historical high level, even though the order book typically increases towards the end of a year. In addition to seasonal variations, the high order book is to some extent a result of delays in deliveries combined with a substantial amount of orders related to the Company’s power and commercial products. Also, Lerc has an all time high order reserve, and there is at present a high level of activity within the shipbuilding industry, which gives the Company a stable amount of incoming orders for regular antennas. Going forward the Company is in a strong position to realize interesting market opportunities. The prospects for the power supply products overlap the prospects for the antenna and antenna systems. 40
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