Polight ASA — Earnings Release 2022

May 12, 2022

poLight ASA - The quarter has confirmed the potential in several market segments

poLight ASA - The quarter has confirmed the potential in several market segments

KEY EVENTS in the Quarter

*  Design-in award and sample purchase order received for an augmented reality

display case

*  Follow-up order related to the scan engine EX30 (Honeywell)

*  Augmented reality opportunity pipeline promising, both for short/medium-term

professional use cases and longer-term consumer applications

*  Despite a somewhat softer smartphone market due to the challenging situation

in China, progress still being made on existing and new PoCs

*  Other application areas, such as medical and industrial are maturing

Horten, 12 May 2022 - poLight ASA (OSE: PLT) today announced its results for Q1

Customer-related activities continued at a high level in the first quarter.

poLight is actively engaged in several segments.

EBITDA totalled NOK -18.5 million in Q1 2022, compared with NOK -20.2 million in

Q1 2021.

As at 31 March 2022 poLight had cash of NOK 150.2 million, compared with NOK

68.4 million as at 31 March 2021.

"We made good progress in many areas during the quarter, although it was

somewhat impacted by the challenging situation in China. Progress in the

augmented reality cases we are exploring remains promising, and there are

candidates for design-wins this year and onwards. With respect to smartphone

cases, we see OEMs being more cautious about releasing new phone models, and we

foresee this will impact the timing of the first smartphone case for poLight.

That said, interest and activity related to TLens® has been, and remains,

encouraging.", said Øyvind Isaksen, the CEO of poLight.

Q1 report and presentation

Please find the report and presentation for Q1 2022 enclosed.

poLight Q1 2022

report.pdf (https://mb.cision.com/Public/14821/3565348/b302c7849ab8cee2.pdf)

poLight Q1 2022

presentation.pdf (https://mb.cision.com/Public/14821/3565348/89bc7d712c694619.pdf

)

Presentation and webcast

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

results today at 09:00 CET through live webcast. Please join the Q1 2022 results

webcast by clicking here:

poLight ASA Webcast Q1 2022

(royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/2022051

2_6)

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:

Dr. 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 headquartered in Horten, Norway, with employees in Finland,

China, UK, USA, Russia, Taiwan, and representation in Korea and Japan. For more

information, please visit  https://www.polight.com