ArcticZymes Technologies — Earnings Release 2022

Feb 2, 2023

ArcticZymes Technologies Q4 and full year 2022 results

ArcticZymes Technologies Q4 and full year 2022 results

Tromsø, Norway, 2[th] February 2022 - ArcticZymes Technologies (OSE: AZT)

reported sales of NOK 28.2 million (40.5) and an EBITDA of NOK 1.3 million

(20.8) for the fourth quarter of 2022.

Highlights from Q4 and the full year 2022

· ArcticZymes Technologies (AZT) had Q4 sales of NOK 28.2 million a reduction

of 30% (Q4 2021: NOK 40.5 million) and sales for the full year of NOK 137.0

million growing by 7% (12M 2021: NOK 128.0 million)

· AZT had a positive EBITDA for Q4 of NOK 1.3 million, a reduction of NOK 19.5

million (Q4 2021: NOK 20.8 million) and a positive EBITDA for 2022 of NOK 41.5

million, a reduction of 20.1 million (12M 2021: NOK 61.6 million).

· Operating expenses for Q4 were 26.0 million (Q4 2021: NOK 18.4 million)

impacted by one-off expenditure. Operating expenses for 2022 totalled NOK 91.0

(12M 2021: NOK 65.5 million)

· Cash flow for Q4 was positive NOK 5.6 million (Q4 2021: NOK 14.0 million)

giving a cash balance of NOK 244.2 million (Q4 2021: NOK 200.4 million)

· Launched 3 new products: AZscript[TM] Reverse Transcriptase; SAN HQ 2.0

ELISA kit & ArcticZymes Proteinase Glycerol FREE

· Upscaled the manufacturing capacity of AZ Proteinase to meet growing demand

· Signed exclusive license deal for a novel DNA assembly technology to expand

offerings in both the molecular tools and biomanufacturing businesses

· Conducted a comprehensive M&A process and engaged in negotiations with a

European company. As a result of due diligence findings however, AZT terminated

the acquisition process

-Ends-

Presentation and Webcast

The Company will host a Q4 2022 presentation, followed by an extended investor

presentation for investors, analysts and media at 08:30 CET on Thursday, 02

February 2023 at Høyres Hus, Stortingsgata 20, Oslo.

The presentation will be given by the Chairman of the board, Marie Roskrow, CFO,

Børge Sørvoll, VP Business Development and Marketing, Dirk Hahneiser, VP of

Operations, Marit Sjo Lorentzen and CSO, Darren Ellis. CEO, Jethro Holter is

currently on sick leave and will not participate.

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

www.arcticzymes.com or

https://channel.royalcast.com/landingpage/hegnarmedia/20230202_2/. It will be

possible to post questions through the webcast console.

The result, report and presentation for the fourth quarter 2022 and the extended

investor presentation will be available on www.newsweb.no and on the company's

homepage www.arcticzymes.com from 07.00 CET on Thursday, 02. February 2023.

For more information, please contact:

ArcticZymes Technologies ASA

Chairman of the Board, Marie Roskrow Tel: +44 (0) 74 96 959743

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 biomanufacturing.

Listed on the Oslo Stock Exchange since 2005 as ArcticZymes Technologies 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.