Polight ASA — Earnings Release 2021

Oct 29, 2021

poLight ASA - continuing progress with several customers and successful share issue enabling future growth in various markets

poLight ASA - continuing progress with several customers and successful share issue enabling future growth in various markets

KEY EVENTS in the Quarter

* Follow-up purchase order for barcode scan engine product, worth approximately

NOK 1,450,000 (mentioned in Q2-report)

* Two purchase orders received related to a surgical device, worth a combined

total of NOK 4,000,000

*  Private placement successfully raised net NOK 130,300,000 (including sub

-sequent offering of net NOK 11,800,000 raised in October-21)

* Good progress in most customer cases

Horten, 29 October 2021 - poLight ASA (OSE: PLT) today announced its results for

Q3 2021.

During the quarter, poLight successfully raised NOK 118.5 million in net

proceeds in a private placement and have made good progress in several market

segments, including smartphone.

EBITDA totalled NOK -2.9 million in Q3 2021, compared with NOK -2.7 million in

Q3 2020.

As at 30 June 2021 poLight had cash of NOK 164.1 million, compared with NOK 79.4

million as at 30 September 2020.

"Another quarter with high activity with respect to support for customer-related

projects and preparation of the supply chain. Although there are many challenges

to overcome, it is impressive and very encouraging to experience the interest in

our products. Our strategy of positioning ourselves for the consumer markets of

today and tomorrow, as well as entering new industrial/professional market

segments, is gradually producing tangible results. We are making good progress

in smartphone customer cases through various Proof of Concept (PoC) projects.

Augmented Reality (AR) customer cases are maturing, and we are engaged in

projects for which we are planned used in customers next generation smart

glasses (i.e. design-in´s) and PoCs for technology qualification. Existing and

new cases in the industrial/barcode segment are slowly maturing, and we are

starting to see traction in the medical field. In the quarter a private

placement was successfully placed enabling us to further position the company in

the different market segments.  Thanks to all our shareholders for supporting

us, and - not least - a big thanks to the poLight team for doing everything

possible to develop a world-class tuneable optics company.", said Øyvind

Isaksen, the CEO of poLight.

Q3 report and presentation

Please find the report and presentation for Q3 2021 enclosed.

poLight Q3 2021

report.pdf (https://mb.cision.com/Public/14821/3442925/bfbf39b6dab0bc75.pdf)

poLight Q3 2021

presentation.pdf (https://mb.cision.com/Public/14821/3442925/973a10e51d854878.pdf

)

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 Q3 2021 results

webcast by clicking here: poLight ASA Webcast Q3 2021

(royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/2021102

9_3)

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 offers 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 and China and

representation in France, UK, US, Taiwan, Korea and Japan. For more information,

please visit https://www.polight.com