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Q4 2025 Strong Quarter. Sales Growth. Improved Profitability. February 12, 2026 CEO Michael Akoh CFO Børge Sørvoll CCO Paul Blackburn

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Overview

An enzyme partner with a scalable growth platform

Worldclass Products

Providing novel enzymes for advanced therapies and molecular diagnostics
Strong reputation in Molecular Tools and Bioprocessing segments.
Net Promoter Score = 84

Segment & Customers

Targeting segments with high growth potential
Customers are life science tools, CDMO, Pharma and Biotech companies

Talent & Culture

Management team committed to creating a culture where exceptional innovation thrives
World class commercial and R&D team
Strong manufacturing capabilities complying to ISO13485 and GMP
53 employees, HQ in Tromsø
Direct sales in US & Europe (90%)
SAN partnership with Brenntag AG

Strong Financials

Margins > 90% all products
Recurring revenue streams sticky business by being designed in
Revenue 118 MNOK (2025)
No debt 265 MNOK in Cash reserve
Listed on the Norwegian Stock Exchange

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Agenda

Highlights Q4 and FY 2025 1
Segment performance Biomanufacturing & Molecular Tools 2
3 Financials
Outlook and Q&A 4

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Highlights Q4 and FY 2025:

Strong Revenue Growth and Commercial Progress

Q4 Total Revenue Up 31% 34.7 MNOK (26.4 MNOK)

FY Revenue Up 9% 118.2 MNOK (108.1 MNOK) Metagenomics as new long term growth driver securing diversification

Q4 EBITDA Up 232% 8.3 MNOK (2.5 MNOK)

FY EBITDA More than doubled 12 MNOK (5.1 MNOK)

Commercial organisational build up completed

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2025 Key Milestones & Value-Creating Events

Turning execution into scalable growth opportunities

Solid Growth Strategy, Commercial Execution & Organizational Build-Up in Place

New growth strategy facilitating scalable growth, diversification and innovation
Built a stronger, scalable commercial organization, improving sales execution, marketing, and customer engagement

Partnerships & Market Access Expansion

New channel strategy, strengthening local presence and providing increased customer access
Executed strategic SAN partnership with Brenntag AG expanding European reach

Portfolio Expansion

Launched M-SAN HQ GMP, reinforcing ArcticZymes' position in regulated biomanufacturing workflows

Metagenomics – New Long Term Growth Vehicle

Established and fueled metagenomics as a new growth vector resulting in inclusion in validated protocols
Diversification of platform using existing enzymes for new application areas

Back on a growth path and coming into 2026 with momentum

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Q4 Sales - Overview

High Quality Growth and Momentum

Q4 2025 was our strongest quarter since Q1 2022, and the fifth-strongest quarter in the company's history
Importantly, this was our strongest quarter outside the peak COVID years (2020–2022)
Sales increased by 9.6 MNOK, representing growth of 39% (versus Q4 2024)

Region	Growth Vs Q4 2024
US	33%
EMEA	59%
APAC	-32%
TOTAL	39%

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Q4 Sales - Biomanufacturing

Solid performance with expanding GMP adoption

Biomanufacturing delivered a strong Q4, with sales of 15.2M NOK, representing 23% growth over Q4 2024
Growth was well balanced across channels
Product performance was broad-based
SAN HQ
M-SAN HQ
HL-SAN
ELISA kits
GMP-grade product sales continued to accelerate

Average order value up 11%, order volumes up 18%, and the number of active customers up 16%

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Q4 Sales - Molecular Tools

Underlying business intact

Molecular Tools delivered a very strong quarter, with sales up 6.7M NOK to 18.9M NOK
Growth was driven by significantly larger orders, with average order value up 66%
Order volumes and customer count were slightly lower, with orders down 2% and active customers down 11%
Several large, year-end orders contributed meaningfully to the quarter, supporting the strong topline performance.

Molecular tools increased +56% YoY and +23% QoQ

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2025 Revenues

Sustained Growth

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Sales Growth - Geography 2025

Territory Split

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2025 FY Biomanufacturing

Growth with Quality

The majority of growth came from direct sales to CDMOs, supported by incremental contribution from resellers supplying those same customers.
M-SAN was the primary growth driver, +108%, while ELISA kits grew 58%, partly reflecting new kit validations.
SAN HQ sales declined for the fourth consecutive year (-12%), consistent with ongoing portfolio and application mix shifts toward newer format

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2025 Full Year Molecular Tools

Core Products Showing Strong Traction

Cod UNG grew 31%, driven by higher demand from a small number of large strategic accounts.
rSAP sales were broadly stable, with multicustomer growth offset by a decline from one large account.
HL-dsDNase declined 28% reported, but excluding one large customer, sales grew 164%, reflecting strong underlying demand from five accounts.

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Project Driven Momentum

Building Momentum Through Conversion (12M average)

Biomanufavturing

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Currency impact

Significant Growth despite headwinds

Norwegian krone strengthened against the USD with almost 10% from last year
Euro unchanged from last year

Adjusting Q4 2025	revenues for constant currency: Q4 2025 Adj		Change
34.1 MNOK	36.3 MNOK	2,2 MNOK	6%

12M 2025	12M 2025 Adj		Change
112.6 MNOK	115.3 MNOK	2,7 MNOK	2%

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Profit and loss - Expense development

Cost Control Resulting in Normalised expense levels

Personnel expenses

Reduced capitalisation
Reversed 1,9 MNOK in accrued commissions Q4 2024

Other operating expenses

IT cost reduced due to lower software expenses
Increased marketing spending
Currency headwinds continue
Overall, lower spend than last year (ERP in 2024)

	Q 4		YTD
	2025	2024	2025	2024
Sales revenues	34 1 ,	24 5 ,	112 6 ,	104 4 ,
Other revenues	0 6 ,	1 9 ,	6 5 ,	3 7 ,
Sum revenues	34 7 ,	26 4 ,	118 3 ,	108 1 ,
Cost of materials	1 7 - ,	1 7 - ,	4 4 - ,	9 0 - ,
Change in inventory	0 1 ,	0 2 ,	0 3 - ,	3 0 ,
Personnel expenses	16 6 - ,	13 5 - ,	67 9 - ,	60 6 - ,
Other operating expenses	8 2 - ,	8 8 - ,	33 6 - ,	36 3 - ,
Sum expenses	-26 4 ,	-23 9 ,	-106 3 ,	-102 9 ,
EBITDA	8 3 ,	2 5 ,	12 0 ,	5 1 ,
Depreciation and amortisation	2 4 - ,	2 1 - ,	9 2 - ,	6 6 - ,
EBIT	5 9 ,	0 5 ,	2 8 ,	-1 4 ,
Net financials	2 8 ,	4 6 ,	9 4 ,	12 0 ,
EBT	8 7 ,	5 0 ,	12 2 ,	10 6 ,

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Profitability and expenses

Trend for 2025 continues

Sales & EBITDA

	Q 4		YTD
	2025	2024	2025	2024
Sales revenues	34 1 ,	24 5 ,	112 6 ,	104 4 ,
Other revenues	0 6 ,	1 9 ,	6 5 ,	3 7 ,
Sum revenues	34 7 ,	26 4 ,	118 3 ,	108 1 ,
Cost of materials	1 7 - ,	1 7 - ,	4 4 - ,	9 0 - ,
Change in inventory	0 1 ,	0 2 ,	0 3 - ,	3 0 ,
Personnel expenses	16 6 - ,	13 5 - ,	67 9 - ,	60 6 - ,
Other operating expenses	8 2 - ,	8 8 - ,	33 6 - ,	36 3 - ,
Sum expenses	-26 4 ,	-23 9 ,	-106 3 ,	-102 9 ,
EBITDA	8 3 ,	2 5 ,	12 0 ,	5 1 ,
Depreciation and amortisation	2 4 - ,	2 1 - ,	9 2 - ,	6 6 - ,
EBIT	5 9 ,	0 5 ,	2 8 ,	-1 4 ,
Net financials	2 8 ,	4 6 ,	9 4 ,	12 0 ,
EBT	8 7 ,	5 0 ,	12 2 ,	10 6 ,

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Cash flow and short-term investments

**6.4 MNOK in changes for Q4* - FY 2025 20.8 MNOK**

Cash and STI position

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Outlook 2026

ArcticZymes enters 2026 with momentum and a strengthened platform

Biomanufacturing

Scale GMP-grade nuclease adoption for late-stage manufacturing
Deeper and broader CDMO collaborations
Brenntag partnership in Europe and channel partnerships in ROW

Molecular Tools

Sustain momentum with key partners and broaden customer base
Expand M-SAN adoption in metagenomics

Strategic Focus Ahead

Broaden applications of the existing enzyme portfolio
Advance RNA-focused solutions with ET-N1 launch
Explore inorganic growth options

Ambition is to create sustainable double-digit growth over the next years

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Capital Markets Day - March 6, 2026 – 9:00-12:00

Nordea: Smålandsgatan 17, Stockholm, Sweden or Virtually

From transformation to scalable growth

The Strategy

A focused growth strategy built on customer-centric execution, innovation, diversification and operational scalability

The Markets

Where ArcticZymes competes - and wins – across advanced therapies and molecular tools

The Customers

How customer insight, segmentation, and engagement translate into durable revenue growth
Metagenomics presentation Prof. Rafi Ahmad, University of Southampton / University of Inland, Norway
Viral vector CDMO presentation Senior Director Lee Davis OXB, The UK

The Ambitions

Financial and strategic ambitions for the long term

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