ArcticZymes Technologies — Earnings Release 2021

Apr 22, 2021

ArcticZymes Technologies Q1 2021 Results

ArcticZymes Technologies Q1 2021 Results

Tromsø, Norway, 22 April 2021 - ArcticZymes Technologies (OSE: AZT) reported

sales of NOK 40.4 million (18.5) and an EBITDA of NOK 25.8 million (9.0) for the

first quarter of 2021.

Highlights from Q1 2021

· ArcticZymes Technologies (AZT) had Q1 sales of NOK 40.4 million growing by

119% (Q1 2020: NOK 18.5 million)

· Coronavirus-related sales are estimated at NOK 16.5 million in Q1 2021 (NOK

3.8 million in Q1 2020)

· Gross profit improved to NOK 39.9 million with 99% margin (Q1 2020: NOK 18.5

Million)

· AZT delivered a positive EBITDA of NOK 25.8 million (Q1 2020: NOK 9.0

million)

· Cash-flow for Q1 was positive NOK 23.2 million (Q1 2020: NOK 4.4 million)

giving a cash balance of NOK 163.3 million (Q1 2020: NOK 35.7 million)

· Successfully upscaled the SAN HQ production process

CEO Jethro Holter comments:

"We are delighted with the performance of our first quarter as a pure enzymes

company. The ArcticZymes team has delivered the best ever quarterly performance

achieving sales revenues of 40 million NOK and an EBITDA of 26 million NOK. All

market segments have experienced quarterly growth including re-establishment of

molecular research sales to pre-pandemic levels.

Furthermore, the SAN HQ enzyme production process was successfully upscaled 100

-fold. The innovation pipeline and the infrastructure expansion project of R&D

and operations are progressing. Such activities are key to leveraging the

greater potential ArcticZymes Technologies can accomplish through organic

growth."

-Ends-

First Quarter 2021 Presentation and Webcast

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

Sørvoll will take place today, 22[nd] April 2021, at 08:30 am CET as a live

video/phone -conference.

Call in details: +47 21 40 24 87 with conference id: 246 245 401#. 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 first 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 22[th] April 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.