Navamedic — Earnings Release 2021

Nov 4, 2021

Navamedic ASA: Q3 2021 financial results

Navamedic ASA: Q3 2021 financial results

Oslo, 4 November 2021 - Navamedic ASA (OSE: NAVA) grew revenues by 12% in the

third quarter of 2021 compared to the same quarter last year. The company

reported revenues of NOK 63.6 million in the third quarter of 2021 with an

EBITDA of NOK 3.7 million, driven by underlying growth in the portfolio and

Mysimba® in particular. The company reiterates its mid-term ambition of building

a NOK 500 million company through organic growth.

"Our portfolio of specialty pharma and consumer health products continue to grow

with particularly strong performance for the obesity medicine Mysimba, which

grew by 77% in the third quarter. We expect the high demand for Mysimba to

continue going forward, further fueled by the conditional reimbursement in

Finland and roll-out of our successful patient support program, helping obesity

patients across the Nordics to succeed in their treatment," says Kathrine

Gamborg Andreassen, Chief Executive Officer of Navamedic ASA, and continues.

"We are also pleased to see the strong performance of our portfolio of

antibiotics products, displaying solid traction on tenders compared to plan with

new tenders won in several countries."

Revenues in the third quarter of 2021 were NOK 63.6 million (NOK 56.8 million in

the third quarter of 2020). The gross margin was 38.9% (31%), while the EBITDA

was NOK 3.7 million (3.8). In YTD 2021, revenues grew by 21.8% compared to the

same period last year, up from NOK 154.6 million to NOK 188.3 million, while

EBITDA was NOK 10.6 million, up from NOK 2.4 million in the same period last

year. Navamedic will launch products in at least one country in each launch

window going forward. The company targets 20% annual growth from 2021 and

reiterates its mid-term ambition of building a NOK 500 million company through

organic growth with strong gross margins and underlying profitability.

Navamedic is hosting a webcast presentation of the third quarter 2021 financial

results, Thursday 4 November at 08.45 CET. The presentation willbe held at

Sparebank 1 Markets in Olav V's gate 5 in Oslo as well as via webcast on

www.navamedic.com/investors/financial-results under '2021'. Representatives from

Navamedic will be CEO Kathrine Gamborg Andreassen and CFO Lars Hjarrand.

EBITDA and other alternative performance measures (APMs) are defined and

reconciled to the IFRS financial statements as a part of the APM section of the

attached third quarter 2021 presentation on slide 22.

For further information, please contact:

Kathrine Gamborg Andreassen, CEO, Navamedic

Mobile: +47 951 78 680

E-mail: kathrine@navamedic.com

Lars Hjarrand, CFO, Navamedic

Mobile: +47917 62 842

E-mail: lars.hjarrand@navamedic.com

Navamedic ASA is a Nordic pharma company and reliable provider of high-quality

products, delivered to hospitals and through pharmacies, meeting the specific

needs of patients and consumers by leveraging its highly scalable market access

platform, leading category competence and local knowledge. Navamedic is present

in all the Nordic countries, the Baltics and Benelux, with sales representation

in the UK and Greece. Navamedic is headquartered in Oslo, Norway, and listed on

the Oslo Stock Exchange (ticker: NAVA). For more information, please

visitwww.navamedic.com

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.