Zalaris

Earnings Release • Feb 18, 2022

Record level of BPO contracts awarded in 2021

Record level of BPO contracts awarded in 2021

Zalaris ASA, the provider of Payroll and HR Solutions, today posted revenue of

NOK 201.7 million and an adj. EBIT of 10.2 million.

Q4 highlights:

· Revenue of NOK 201.7 million (NOK 203.5 million), and NOK 775.3 million (NOK

792.3 million) for the full year. Adjusted for currency movements, revenue grew

by +4.1% and +1.1% in the quarter and full-year respectively.

· Adjusted EBIT of NOK 10.2 million (NOK 15.8 million), and NOK 49.6 million

(NOK 55.2 million) for the full-year.

· Adjusted EBIT margin of 5.1% (7.8%), and 6.4% (7.0%) for the full year.

· New BPO contracts awarded during the quarter has an expected annual

recurring revenue ("ARR") of NOK 37 million, and new contracts full-year has ARR

of NOK 115 million, representing a future revenue growth of 11.5% when

implemented

· Deferred revenue full-year increased by NOK 26.5 million YoY to NOK 41.4

million (+176%) from all time high activity level implementing new contracts.

· Acquired vyble, a German provider of cloud-based Payroll & HR management

system (SaaS) for the SME market.

· Cash and cash equivalents of NOK 176.2 million, +NOK 51.4 million compared

to last year.

All-time high contract signings with landmark customers in all markets "Coming

out of Covid - we experience an uptick of demand in the market for our services,

as customers increasingly look to digitise and improve the resilience of their

people processes. In combination with increased brand awareness, and a

strengthened sales organization, this has resulted in a significant increase in

new opportunities across our all our regions." - says CEO and Founder Hans

-Petter Mellerud.

Zalaris will host a webcast for all shareholders and interested parties today at

08:30 CET. There will be a Q&A session following the management presentation.

The third quarter webcast will be available through ir.zalaris.com.

Zalaris ASA Q4 2021 Presentation (https://ir.zalaris.com/wp

-content/uploads/sites/3/2022/02/Zalaris-ASA-Q4-2021-Presentation.pdf)

Zalaris ASA Q4 2021 Report (https://ir.zalaris.com/wp

-content/uploads/sites/3/2022/02/Zalaris-ASA-Q4-2021-Report.pdf)

Contact:

Hans-Petter Mellerud, CEO and founder

Mobile: +47 928 97 276

E-mail: hans-petter.mellerud@zalaris.com

Gunnar Manum, CFO

Mobile: +47?951 79 190

E-mail: gunnar.manum@zalaris.com

About Zalaris

Zalaris (OSLO: ZAL) simplify HR and payroll administration, empower you with

useful information so that you can invest more in people. We are a leading

service provider of Human Experience Management (HXM) solutions across Europe,

serving more than 1.5 million employees with an annual revenue of ~76 million

Euros (2021). We hold #1 or #2 positions in most of our markets. Our consultants

have more than 21 years of experience in transforming HR with our clients.

Simplify work life. Achieve more. For more information, go to www.zalaris.com.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.