Asetek A/S — Earnings Release 2020

Jan 5, 2021

Asetek – Update to Full Year 2020 Guidance

January 5, 2021 - Asetek today updated its full-year 2020 revenue and pre-tax profit expectations due to continued strong demand in the fourth quarter.

Asetek expects to report an increase in Group revenue of 33-35% for 2020 compared with 2019. Gross margin is expected to increase from 2019, and the Company expects an income before tax of about \$10-11 million.

The previous revenue and pre-tax profit expectations, announced on October 19, were for revenue growth of 25-30% in 2020 compared with 2019 and an expected income before tax of about \$9-10 million.

The Company will release its fourth quarter and annual report for 2020 on February 24, 2021.

About Asetek

Asetek, the creator of the all-in-one liquid cooler, is the global leader for liquid cooling solutions for high performance gaming and enthusiast PCs, and environmentally aware data centers. Founded in 2000, Asetek is headquartered in Denmark and has operations in China, Taiwan and the United States. Asetek is listed on the Oslo Stock Exchange (ASETEK.OL).

For further information, please contact:

CEOand Founder André S. Eriksen +45 2125 7076, email: ceo@asetek.com