ArcticZymes Technologies — Earnings Release 2022

Apr 28, 2022

ArcticZymes Technologies Q1 2022 Results

ArcticZymes Technologies Q1 2022 Results

Tromsø, Norway, 28[th] April 2022 - ArcticZymes Technologies (OSE: AZT) reported

sales of NOK 49.2 million (40.9) and an EBITDA of NOK 27.9 million (25.8) for

the first quarter of 2022.

Highlights from Q1 2022

· ArcticZymes Technologies (AZT) had Q1 sales of NOK 49.2 million growing by

21% (Q1 2021: NOK 40.9 million)

· Positive EBITDA of NOK 27.9 million (Q1 2021: NOK 25.8 million)

· Cash flow for Q1 was positive NOK 14.2 million (Q1 2021: NOK 23.2 million)

giving a cash balance of NOK 214.6 million (Q1 2021: NOK 163.3 million)

· Signed a new OEM supply deal with a leading global Life Science company

· Established new application laboratory at ShareLab in Oslo

CEO Jethro Holter comments:

"We are delighted with the strong performance of our first quarter for 2022. The

ArcticZymes team has delivered the best-ever quarterly performance achieving

sales revenues of NOK 49.2 million and an EBITDA of NOK 27.9 million. Both

Molecular Tools and Biomanufacturing were instrumental in delivering growth.

Furthermore, ArcticZymes is proud to expand its operational activities outside

of Tromsø and strategically establish itself at ShareLab in Oslo. Initial

activities at Sharelab will focus on application development."

-Ends-

First Quarter 2022 Presentation and Webcast

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

CET on Thursday, 28[th] April 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/20220428_14/. It will be

possible to post questions through the webcast console.

The results, report and presentation for the first quarter 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 28[th] April 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