ArcticZymes Technologies — Earnings Release 2022

Aug 18, 2022

ArcticZymes Technologies Q2 and first half 2022 Results

ArcticZymes Technologies Q2 and first half 2022 Results

Tromsø, Norway, 18[th] August 2022 - ArcticZymes Technologies (OSE: AZT)

reported sales of NOK 30.4 million (21.3) and an EBITDA of NOK 9.5 million (6.0)

for the second quarter of 2022.

Highlights from Q2 and first 6 months 2022

· ArcticZymes Technologies (AZT) had Q2 sales of NOK 30.4 million growing by

43% (Q2 2021: NOK 21.3 million) and sales for the first 6 months of NOK 79.5

million growing by 28% (6M 2021: NOK 62.2 million)

· AZT had a positive EBITDA for Q2 of NOK 9.5 million growing by 58% (Q2 2021:

NOK 6.0 million) and a positive EBITDA for the first six months of NOK 37.4

million growing by 18 % (6M 2021: NOK 31.8 million)

· Cash flow for Q2 was positive NOK 16.4 million (Q2 2021: NOK 13.5 million)

giving a cash balance of NOK 231.0 million (Q2 2021: NOK 176.8 million)

· Initiated the establishment of a Drug Master File (DMF) for the SAN HQ

enzyme

· Appointed Dirk Hahneiser as new Vice President of Business Development and

Marketing

CEO Jethro Holter comments:

"We are delighted with the quarterly performance and continued commercial

development of the business post-pandemic. Both Molecular Tools and

Biomanufacturing remain instrumental in delivering growth.

Furthermore, we welcome Dirk Hahneiser as new Vice President of Business

Development and Marketing to the team. We look forward to working closely with

Dirk in elevating commercial activities to the next level.

We would like to take this opportunity to thank Dirk´s predecessor, Dino

DiCamillo, for his outstanding achievements in delivering commercial growth of

the enzyme business over the last decade."

-Ends-

Presentation and Webcast

The Company will host a presentation for investors, analysts and media at 08:30

CET on Thursday, 18[th] August 2022 at Hotel Continental, Stortingsgata 24/26,

Oslo.

The presentation will be given by CEO, Jethro Holter and CFO, Børge Sørvoll

The presentation can also be followed as a live webcast from Hegnar TV on

www.arcticzymes.com or

https://channel.royalcast.com/landingpage/hegnarmedia/20220818_5/ It will be

possible to post questions through the webcast console.

The results, report and presentation for the second quarter and first half  2022

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 CET on 18[th] August 2022.

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