ArcticZymes Technologies — Earnings Release 2021

Aug 19, 2021

ArcticZymes Technologies Q2 2021 Results

ArcticZymes Technologies Q2 2021 Results

Tromsø, Norway, 19[th] August 2021 - ArcticZymes Technologies (OSE: AZT)

reported sales of NOK 21.4 million (33.4) and an EBITDA of NOK 6.0 million

(22.5) for the second quarter of 2021.

Highlights from Q2 2021

· ArcticZymes Technologies (AZT) had Q2 sales of NOK 21.4 million - a

reduction of 36% (Q2 2020: NOK 33.4 million)

· Coronavirus-related sales are estimated at NOK 4.5 million in Q2 2021 (NOK

11.0 million in Q2 2020)

· Gross profit reduced to NOK 21.6 million as a result of lower sales (Q2

2020: NOK 33.0 million)

· AZT generated a positive EBITDA of NOK 6.0 million (Q2 2020: NOK 22.5

million)

· Cash-flow for Q2 was positive NOK 13.6 million (Q2 2020: NOK 20.4 million)

giving a cash balance of NOK 177.0 million (Q2 2020: NOK 56.1 million)

· Launched SAN HQ 2.0 at the end of the quarter

· Increased ownership in ArcticZymes AS from 96% to 100% by contribution in

kind

CEO Jethro Holter comments:

"Second quarter sales performed as expected following a strong Q1 2021.

Quarterly volatility is more prominent due to a changing environment relating to

the Coronavirus pandemic and associated short-term demands in the supply chain

in all market segments ArcticZymes serves.

A new milestone was reached for two consecutive quarters, achieving >100 MNOK in

sales revenues for the last 12-months on a quarterly rolling basis. We are

delighted to achieve this and now focus our efforts on our next milestone, which

is to achieve 120 MNOK in annual sales revenues during 2021."

-Ends-

Second Quarter 2021 Presentation and Webcast

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

Sørvoll will take place today, 19[th] August 2021, at 08:30 am CET as a live

video/phone -conference.

Call in details: +47 21 40 24 87 with conference id: 235 027 209#. 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 second 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 19[th] August 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.

This release was distributed by Børge Sørvoll, CFO of ArcticZymes Technologies

ASA on 19th August 2021 at 0700 CET

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation.