ArcticZymes Technologies — Earnings Release 2021

Oct 28, 2021

ArcticZymes Technologies Q3 2021 Results

ArcticZymes Technologies Q3 2021 Results

Tromsø, Norway, 28[th] October 2021 - ArcticZymes Technologies (OSE: AZT)

reported sales of NOK 25.6 million (19.5) and an EBITDA of NOK 9.0 million (7.1)

for the third quarter of 2021.

Highlights from Q3 2021

· ArcticZymes Technologies (AZT) had Q3 sales of NOK 25.6 million - an

increase of 31% (Q3 2020: NOK 19.5 million)

· Coronavirus-related sales are estimated at NOK 2.9 million (Q3 2020: NOK 4.0

million)

· Gross profit increased to NOK 24.1 million because of increased sales (Q3

2020: NOK 19.4 million)

· AZT generated a positive EBITDA of NOK 9.0 million (Q3 2020: NOK 7.1

million)

· Cash-flow for Q3 was positive NOK 9.9 million (Q3 2020: NOK 13.6 million)

giving a cash balance of NOK 186.9 million (Q3 2020: NOK 69.7 million)

· Four new advanced prototype enzymes were released for customer evaluation

· Commercial activities return to normal following the pandemic

CEO Jethro Holter comments:

"ArcticZymes Technologies commercial activities have mostly returning back to

normal with customer re-engagement towards pre-pandemic activities.  This is

reflected in Q3 sales where ArcticZymes Technologies has experienced its second

-best quarter for the non-coronavirus-related business achieving NOK 22.7

million. Furthermore, the Company accomplished its highest quarterly performance

for sales to the Therapeutics (Biomanufacturing) segment achieving NOK 12.6

million.

AZT continues to uphold its earlier guidance with an annual sales revenue goal

of NOK 120 million for 2021."

-Ends-

Third Quarter 2021 Presentation and Webcast

A presentation by ArcticZymes Technologies' CEO, Jethro Holter and CFO, Børge

Sørvoll will take place today, 28[th] October 2021, at 08:30 am as a live

video/phone -conference.

Call in details: +47 21 40 24 87 with conference id: 220 624 781#. Participants

who want to participate in the Teams webcast are asked to send an email to

ir@arcticzymes.com for a separate invitation.

The results, report and presentation for the third quarter 2021 will be

available on www.newsweb.no (https://protect

-eu.mimecast.com/s/ax_EC4xJkS8gx1SMlEBY?domain=newsweb.no) and on the Company's

homepage www.arcticzymes.com from 07:00 am on 28[th] October 2021.

For more information, please contact:

ArcticZymes Technologies ASA

CEO, Jethro Holter Tel: +47 46 85 91 46

CFO, Børge Sørvoll Tel: +47 95 29 01 87

ir@arcticzymes.com

About ArcticZymes Technologies ASA

ArcticZymes Technologies is a Norwegian life sciences company focused on the

development, manufacturing and commercialization of novel recombinant enzymes

for use in molecular research, In Vitro Diagnostics (IVD) and therapeutics.

Listed on the Oslo Stock Exchange since 2005 originally under the [Biotec]

ticker, as Biotec Pharmacon. The company rebranded as ArcticZymes Technologies

in 2020 under the [AZT] ticker. Its headquarters are based in Tromsø, Norway, at

the SIVA Innovation Centre.

ArcticZymes Technologies' IP and capabilities are protected via a large

portfolio of patents.

For more information, please visit the website: www.arcticzymes.com.