Aqua Bio Technology — Investor Presentation 2016

Feb 10, 2016

Fourth Quarter and Full Year 2015 Results Presentation

10 February 2016

2015 Highlights

• Best year in Company history
• All time high revenues
• 55 percent EBITDA margin
• Further improved cash position
• NOK 42 million cash reserve
• The Board of Directors contemplates dividend payment for 2015
• NOK 1.50 per share
• Expected to be formally proposed to AGM upon audited 2015 accounts
• Technology platform expected to expand in 2016

Income Statement

NOK million	Q4 2015	Q342014	FY 2015	FY 2014
Income	10.3	5.8	38.9	22.5
Operating costs	-4.0	-3.9	-17.7	-16.6
EBITDA	6.3	1.9	21.2	5,8
EBIT	5.4	0.3	15.4	-0.5
EBT	4.7	1.5	15.0	0.9
Net result	4.7	1.5	15.0	0.9
EBITDA margin	61.2%	32.8%	54.5%	25.8%

Income and results development

Sales EBITDA

Cash position further strengthened

• NOK 42.0 million cash and cash equivalents as of 31 December 2015
• ABT first dividend payment in Q2 2015 (NOK 6.4 million)

Balance Sheet

NOK million	31 Dec 2015	30 Sep 2015	31 Dec 2014
Fixed assets	8.6	9.7	12.4
Current assets	75.0	68.7	63.4
- of which is cash	42.0	35.2	29.2
Total equity	74.2	69.5	66.3
Long term debt	5.0	5.3	5.6
Short term debt	4.3	3.5	3.9
Total balance	83.6	78.4	75.8
Equity ratio	88.8%	88.7%	87.5%

Cash flow

NOK million (full year)	2015	2014
Cash at beginning of period	29.2	27.0
From operations	21.9	7.5
From investments	-2.0	-2.2
From financing	-6.4	-3.8
Currency effects	-0.7	0.8
Cash at end of period	42.0	29.2
Cash change in period	13.5	1.4

• ABT paid its shareholders a total of NOK 6.4 million in ordinary and extraordinary dividend in June 2015.

Expanding the business case

• ABT holds two main strategic advantages
• Experience in commercialization of new bio technology
• Financial flexibility
• Strategy: Expanding the technology platform through in-licensing
• Biotech developers often lack commercial experience
• Securing ABT's long term value creation through commercialization of third party technology
• In-licensing contracts expected in 2016
• Large number of candidates assessed in 2015
• Technology verification, scaleability and commercial potential evaluated
• Continued support of existing exclusivity partners remains key element of ABT strategy

Outlook

• Continued strong revenue stream

• Contracted revenue through exclusivity and royalty payments continue until 2017
• Commercial success of exclusivity partners represent upside potential
• Expanded business model offers additional potential – Evaluation of in-licensing candidates continues – Contracts expected in 2016
• Robust financial position to be maintained – Equity ratio of 89 percent; strong cash position

1st Quarter 2016 Results 11 May 2016

Investor contact

Arvid Lindberg, CEO +47 9824 5410 arvid@aquabiotech.no

www.aquabiotechnology.com