Gentian Diagnostics ASA

Investor Presentation • Dec 16, 2021

DNB Nordic Healthcare Conference 16 December 2021 Hilja Ibert - CEO

Innovative and efficient diagnostics

ADDRESSING HIGH-VALUE MARKETS

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This presentation has been prepared by and is the sole responsibility of Gentian Diagnostics ASA (the "Company" or "Gentian"). The presentation is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. The information herein and any other material discussed is subject to change.

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Efficient diagnostics for better treatment decisions

«The reason Gentian exists is to deliver diagnostics for better treatment decisions. The high value of the benefits – contributing to protecting life and saving costs – is why our company is faced with a great opportunity»

The Gentian team

Gentian management

CEO Hilja Ibert

25+ years' experience from the international diagnostic industry, including VP International Diagnostic Solutions at Hologic and senior positions within Becton Dickinson and bioMerieux. She was previously the CEO for miDiagnostics in Belgium. Dr. Ibert holds a PhD degree in Nutrition Science from the University of Bonn, Germany.

CSO Erling Sundrehagen

Erling Sundrehagen, cofounder of Gentian, holds 25 int. patents. He has headed the development of a dozen diagnostic products, creating businesses with NOK 1bn+ revenue. Dr. Sundrehagen held management positions in Axis-Shield, Axis Biochemicals and Axis Research, and is dr.med. & cand.real from University of Oslo, Norway.

20+ years experience and extensive track-record from financial management and reporting, corporate governance and Investor Relations. Mr. Kind has served as the CFO for TiZir, UK, Business Analyst in Eramet Comilog Manganese, France, and Investment Director in Tinfos. Kind holds a MSc from BI Norwegian Business School.

CFO & COO

Njaal Kind

VP R&D Torsten Knüttel

18+ years' experience from the diagnostic industry and commercial supply chain. His background includes OEM/B2B business development at Thermo Fisher Scientific and development and production at GE Healthcare. He holds a PhD in Chemistry from the Leibniz University Hannover, Germany.

VP Clinical Affairs Alexandra Havelka

Extensive experience in laboratory medicine. She was previously Biochemist and Unit Manager at Karolinska University Laboratory, with research focusing on biomarkers for inflammation and infection. Dr Havelka holds a PhD in Experimental Oncology from Karolinska Institute in Stockholm, Sweden.

VP Global Sales Markus Jaquemar

30+ years experience in life science and diagnostics commercialisation and marketing. He held marketing, sales and business management positions at Beckman Coulter, Agilent Technologies and Becton Dickinson. He holds a Master's degree in Biology from Vienna University, Austria.

VP QA & RA Anne-Mette Horsrud Akre

20+ years of pharma industry experience, including production of pharmaceuticals and medical devices, quality management and assurance and management positions at GE Healthcare and Fresenius Kabi. She holds a Msc in Biotechnology from the Technical University of Trondheim, Norway.

VP BD Jack Andreassen

20+ years of experience from sales, market and business development from the global diagnostics industry. He was previously Associate Director, Global Market Development for OEM at Thermo Fisher. He holds a Msc in Chemistry, Biochemistry/Molecular Biology from the University of Oslo, Norway.

Portfolio of high-impact tests provides solid growth opportunity

7* tests contributing to saving costs and protecting life

Ambition to grow portfolio with 1 new diagnostics product per year*

Annual revenue ambition of NOK 1bn in 5-7 years

USD 1.3bn serviceable market with 8-9% annual growth

Industry leading team and knowhow

Team with proven trackrecord and industry expertise

Delivered ~30% annual revenue growth 2017-20

2 'blockbuster' tests in market and product development

* 5 products launched, further 2 in development. USD/NOK 8.95 as per 10 December 2021.

7 diagnostic tests, including two potential blockbusters

Growing into a serviceable market of USD 1.3bn

Total Addressable Market: Total demand within targeted markets 2020 (Kalorama 2020). Total Serviceable Market: The segment of the TAM targeted by Gentian's products (company estimates). Gentian's share of revenues net of partner take is 30-50% on average with product variations. Note: SARS-CoV-2 Ab, targeting a USD 20m Nordic serviceable market, not shown separately in graph.

Continued double digit product sales growth and partnerships with leading commercial partners

Q3 2021 highlights

Sales	EBITDA
NOK 17.2m	NOK -4.2m
+30% vs Q3'20	NOK 1.3m vs Q3'20
Cash	SARS CoV-2
NOK 131.3m	Ab on track
NOK -21m vs Q3'20	launch by end 2021

• Total operating revenue of NOK 19.4 million, up 20% from Q3 2020. EBITDA of NOK -4.2 million compared to NOK -5.5 in the corresponding quarter in 2020
• Sales revenue of NOK 17.2 million, up 30% compared to Q3 2020. Organic growth in Q3 2021 was 37%
• In final stage of negotiations with a leading global diagnostics provider for commercial rollout of GCAL®
• Achieved development of an independent reference method for NT-proBNP
• Development of the SARS CoV-2 assay is on track for launch towards the end of Q4 2021

Long-term ambitions rooted in recent progress

Four established products with potential to grow 20%+ annually

Prove clinical relevance of GCAL and bring NT-proBNP to market

Launch one new product per year

Secure one new contract with a global commercial partner per year

Grow gross margin from ~50% in 2020 to 60%+ at volume production

Long-term EBITDA margins of 40%

revenue potential of NOK 1bn in 5-7 years Revenue ambition of NOK 1bn in 5-7 years

combined net