Nordic Unmanned ASA

Report Publication Announcement • Apr 21, 2021

Nordic Unmanned (NUMND) publishes Annual Report

Nordic Unmanned (NUMND) publishes Annual Report

21.4.2021 08:26:04 CEST | Nordic Unmanned | Annual financial and audit reports

Sandnes, 20th of April 2021 - Nordic Unmanned today published its Annual Report

for 2020.

Highlights:

* Group revenues NOK 66.3 million (+108%)

* Group EBITDA NOK 2.6 million, first time positive

* Group net profit NOK 2.6 million after positive changes in deferred tax

assets

* 781 flight hours (+221%)

* First hydrogen powered drone flight in Scandinavia

* First cargo delivery by drone to offshore oil and gas installation in full

production

* Raised NOK 99 million of new equity and listed as first drone operator in

Europe

Nordic Unmanned CEO Knut Roar Wiig comments:

"2020 was the breakthrough year for Nordic Unmanned. In short, we entered 2020

as a small, unprofitable, little known company. We finished 2020 as a

profitable, rapidly growing, listed company with a substantial public footprint,

a strong balance sheet and cash at hand. What a year it has been!

"Looking ahead, I am even more optimistic than I was when we first played around

with the idea of setting up Nordic Unmanned. Firstly, I continue to see

tremendous advantages in the growing use of drones in various roles. Drones are

safer, less expensive and better for the environment than helicopters or planes.

"Secondly, we're not alone in seeing these advantages, and the market is

growing rapidly. The European drone market is expected to double from 2020 to

2025, and we see similar growth rates in other regions. We will make sure to

keep our growth rates at a higher rate than the market growth, and while Europe

continues to be our home market and main focus, we will also start entering

markets outside Europe in 2021, focusing on the US and Middle East.

"Thirdly, Nordic Unmanned has never been stronger and better positioned to take

advantage of this market opportunity. We have a leading position in the European

market, with first-class public and private customers as well as industry

partners. And being listed and well capitalized, we are in an excellent position

to drive growth, both organically and through targeted M&A activities."

The report is attached and available here:

https://nordicunmanned.com/investor-relations/reports-presentations/

Note that the figures in this release refers to the group. The figures reported

in connection with the fourth quarter 2020 report were for the parent company.

The annual report contains both sets of figures.

DISCLAIMER

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Knut Roar Wiig, CEO, +47 92 66 66 59, krw@nordicunmanned.com

ABOUT NORDIC UNMANNED

Nordic Unmanned delivers comprehensive data solutions through industry leading

expertise, to assist both public and private customers in the transition to

unmanned technology. The focus is to support demanding clients by collecting

time-critical data with the use of unmanned technology.

Founded in 2014, the company has offices in Sandnes, Oslo, and Frankfurt, and

has quickly become one of Europe's leading providers of unmanned systems and

services, with operations across the continent.The company is ISO 9001-2015

certified by DNV-GL for the operation, maintenance and sales of unmanned systems

and sensor technology.

For more information visit nordicunmanned.com - https://nordicunmanned.com/

ATTACHMENTS

Annual Report 2020.pdf -

https://kommunikasjon.ntb.no/ir-files/17847587/471/601/Annual%20Report%202020.pd

f