ArcticZymes Technologies — Earnings Release 2022

Jan 5, 2023

ArcticZymes Technologies falls short of guidance

ArcticZymes Technologies falls short of guidance

Tromsø, January 05 2023 - ArcticZymes Technologies ASA (OSE: AZT) announces

significant headwinds for the fourth quarter with sales of 28.3 MNOK and 137.2

MNOK for the fiscal year 2022.

ArcticZymes Technologies fell short in the fourth quarter generating 28.3 MNOK

in product sales. The shortfall impacted the Company´s annual sales guidance

target of 155 MNOK and resulted in an underperformance of 137.2 MNOK for the

full year 2022. The combination of reduced demand post-pandemic and the impact

of the macroeconomic environment have reduced turnover within the Molecular

Tools business. Quarterly sales for the Molecular Tools business were 9.2 MNOK.

Sales in the Biomanufacturing business were unaffected and continued to grow in

accordance with expectations. Quarterly sales for the Biomanufacturing business

were 19.1 MNOK.

ArcticZymes Technologies ASA, CEO, Jethro Holter said:

"After a few years of continued growth, profitable performance and milestone

achievements, 2022 fell short of its guidance to the market. Entering 2023, the

macro-economic effect will continue to impact the Molecular Tools business but

less likely the Biomanufacturing business. Despite the current headwinds, the

Company remains optimistic towards the future and expects continued growth in

the coming years."

For more information, please contact:

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 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.

The information included in this release is defined as inside information in

accordance with the EU Market Abuse Regulation and is subject to the disclosure

requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

The announcement was submitted for publication by Børge Sørvoll ,CFO at

ArcticZymes Technologies ASA, on 5 January 2023 at 07:40 CET.