Desert Control AS

Report Publication Announcement • Nov 22, 2023

Desert Control releases its Q3 2023 Report and Year-to-Date Company Update

Desert Control releases its Q3 2023 Report and Year-to-Date Company Update

Desert Control concluded the third quarter with a strengthened financial

position and continued consistent execution. The successful Q3 capital raise and

the preceding strategic review secured more than NOK 100M in additional

liquidity to support the company's commercialization phase through the first

half of 2025.

Sandnes, Norway, 22 November 2023 - Desert Control AS (DSRT) announces its third

quarter report for the fiscal period ending 30 September 2023.

Q3 2023 Highlights

· Completed a capital raise of NOK 67.50 million, solidifying the company's

financial runway through H1-2025.

· Secured five new pilot projects in the United States, maintaining consistent

quarterly performance aligned with targets.

· Advanced the transition to a licensed operator model in the Middle East,

enhancing operational efficiency and strengthening momentum in collaboration

with partners.

· Prepared for deploying the first LNC production units to Saudi Arabia.

.Financial Highlights third Quarter 2023

[Third quarter 2022 in brackets]

· Revenue NOK 0,2 M   [NOK 0,1 M]

· EBITDA NOK -17,9 M [NOK -21,6 M]

· Net Income NOK -19,3 M [NOK -14,7M]

Financial Highlights First nine months 2023

[first nine months 2022 in brackets]

· Revenue NOK 2,6 M [2]  [NOK1,2 M]

· EBITDA NOK -60,8M [NOK -64,7M]

· Net Income NOK -56,8M [NOK -55,2M]

· Total cash balance 30.09.23 (bank deposits and funds) NOK 35,0 M [1]  [NOK

100,4 M]

· Equity 30.09.2023 NOK 52,5 M (equity ratio 60,0%) [NOK 133,3 (94,2%)]

[1 ]The company received cash post-quarter totaling 91.9 million NOK, which

included payments from the the Middle East agreements and the capital raise of

October 13th. Additional 8 million NOK secured through repair issue closed on 17

November 2023.

Webcast presentation for Desert Control Q3 2023 Report and Interim Financial

Results hosted on 22 November 2023 at 10:00 AM, Central European Time (CET).

Register: go.desertcontrol.com/Q3-2023

The Q3 report, company update presentation, recording and transcript of the

webcast will be made available on the company

website: www.desertcontrol.com/investors under the archive section.

For more information, please contact:

Ole Kristian Sivertsen

President and Group CEO

Email: oks@desertcontrol.com

Mobile (NOR): +47 957 77 777

Mobile (USA): +1 650 643 6136

Mobile (UAE): +971 52 521 7049

Leonard Chaparian

Chief Financial Officer

Email: leonard.chaparian@desertcontrol.com

Mobile (NOR): +47 90 66 55 40

About Desert Control:

Desert Control specializes in climate-smart AgTech solutions to combat

desertification, soil degradation, and water scarcity. Its patented Liquid

Natural Clay (LNC) restores and enhances soil ecosystems to reduce water usage

and improve the efficiency of fertilizers and natural resources for agriculture,

forests, and green landscapes. LNC enables sandy and arid soil to retain water

and nutrients, thus increasing crop yields, plant health, and ecosystem

resilience while preserving water and natural resources by up to 50%.

For more about Desert Control, visit https://www.desertcontrol.com

(https://www.desertcontrol.com%20%20/)

Cautionary Note:

Disclaimer related to forward-looking statements.

This release contains forward-looking information and statements relating to the

business, performance, and items that may be interpreted to impact the results

of Desert Control and/or the industry and markets in which Desert Control

operates.

Forward-looking statements are statements that are not historical facts and may

be identified by words such as "aims", "anticipates", "believes", "estimates",

"expects", "foresees", "intends", "plans", "predicts", "projects", "targets",

and similar expressions. Such forward-looking statements are based on current

expectations, estimates, and projections, reflect current views concerning

future events, and are subject to risks, uncertainties, and assumptions, and may

be subject to change without notice. Forward-looking statements are not

guaranteeing any future performance, and risks, uncertainties, and other

important factors could cause the actual business, performance, results, or the

industry and markets in which Desert Control operates in, to differ materially

from the statements expressed or implied in this release by such forward-looking

statements.

No representation is made that any of these forward-looking statements or

forecasts will come to pass or that any forecasted performance, capacities, or

results will be achieved, and you are cautioned not to place any undue reliance

on any forward-looking statements.

Q3 Report 2023

The information enclosed is subject to the disclosure requirements pursuant to

sections 5-12 in the Norwegian Securities Trading Act