Polight ASA — Earnings Release 2020

May 15, 2020

poLight ASA - Commercial breakthrough in first quarter 2020

poLight ASA - Commercial breakthrough in first quarter 2020

KEY EVENTS

* TLens used in two commercially available smartwatch phones

* poLight TLens designed into a barcode product by a Tier 1 vendor

* Several other customer cases progressing in different market segments

* Share issue carried out post Q1-20

Horten, 15 May 2020 - poLight ASA (OSE: PLT) today announced its results for

first quarter of 2020.

Marketing activities have continued at a high level in the first quarter,

supported by commercial progress in the wearables segment and the launch of the

first two smartwatch phones with advanced auto focus (AF) enabled by TLens.

As announced during the quarter, a leading barcode maker has designed TLens into

its next generation barcode scan engine. The product is expected to go onto the

market in the third-quarter 2020, depending on successful testing and other

external factors.

poLight´s interaction with the smartphone ecosystem increased during the

quarter.

EBITDA in the first quarter was NOK -16.1 million, compared with an EBITDA of

NOK -14.3 million in the first quarter of 2019.

"Many years of hard work and persistence paid off when our TLens was chosen for

inclusion in smartwatch phones in early 2020. Initial market feedback is

encouraging, and we are experiencing increased interest in TLens. We are

currently working to capitalise on the references we have established to win

further contracts, not only in the smartwatch market but also in the wider

wearables market. This could provide a good volume platform for us, as well as a

reference platform for entry into the smartphone market"

Q1 report and presentation

Please find the report and presentation for Q1 2020 enclosed.

Presentation and webcast

CEO Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company's

results today at 08:30 CET through live webcast. Please join the Q1 2020 results

webcast by clicking here:

https://channel.royalcast.com/webcast/hegnarmedia/20200515_2/

The presentation and supporting material will be given in English.

A recorded version of the webcast will be made available on www.polight.com

shortly after the broadcast has been concluded.

Further information from:

Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

Alf Henning Bekkevik, CFO, poLight ASA: +47 91 63 05 14

About poLight ASA

poLight offer a new autofocus lens which "replicates" the human eye for use

in devices such as smartphones, wearables, barcode, machine vision systems and

various medical equipment. poLight's TLens® enables better system performance

and new user experiences due to benefits such as extremely fast focus, small

footprint, no magnetic interference, low power consumption and constant field of

view. poLight is based in Horten, Norway, with offices in Finland, France and

China and representation in Taiwan and Korea. For more information, please

visit https://www.polight.com