Zalaris

Earnings Release • Feb 19, 2021

All-time high EBIT in the fourth quarter

All-time high EBIT in the fourth quarter

Zalaris ASA, the provider of Payroll and HR Solutions, today posted an all-time

high quarterly adj. EBIT of 15.9 million, an increase of 218% from last year.

Key financial figures for Q4:

· Revenue of NOK 203.5 million (NOK 206.2 million), marginally lower than last

year

· Adjusted EBIT of NOK 15.9 million (NOK 5.0 million), an increase of 218%

· Profit for the period of NOK 17.6 million (NOK -3.3 million)

· Cash of NOK 124.8 million (NOK 82.4 million), an increase of NOK 42.4

million (51.5%) from last year

· The board will propose a dividend of NOK 1.00 per share for 2020

Continuing positive development in margins and cash

· #teamZalaris delivered its 20th year of consecutive growth

· Strong positive development in EBIT resulting in an all-time high Q4 EBIT

· Signed several new agreements, including a BPO agreement with Metsä, where

we will be delivering a global payroll, covering 28 countries

· Continued strong operating cash flow

Maintaining revenue growth for the full-year despite Covid-19

"Despite the impacts from the Covid-19 pandemic, #teamZalaris delivered its 20th

year of consecutive growth with revenue of NOK 792 million (+2%) for the year,

and NOK 204 million (NOK 206 million) for the quarter." - says CEO and Founder

Hans-Petter Mellerud.

"We enter 2021 with the goal to continue building on our capabilities and

delivering on our ambition to become the European leader in Payroll and HR

solutions and services" says 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 fourth quarter webcast will be available through ir.zalaris.com.

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 than1.5 million employees with an annual revenue of 77 million

Euros (2019). We hold #1 or #2 positions in most of our markets. Our consultants

have more than 20 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.