Polight ASA

Earnings Release • Aug 15, 2024

poLight ASA - continues to improve its position in the AR/MR market

poLight ASA - continues to improve its position in the AR/MR market

KEY EVENTS in the quarter

· Design-win with Vuzix Shield industrial AR smart glasses.

· Purchase order received for TWedge® wobulator evaluation kits and samples

from major consumer AR/MR original equipment manufacturers (OEM) customers.

· Wooptix announced a wavefront phase camera, the SEBI RT1000, using TLens®.

· New purchase order received worth NOK 600,000 supporting the barcode

scanning market.

· Rights issue resulted in approximately NOK 124 million in net proceeds to

the company.

· Employed new CFO, Rolf Joakim Hines Bredahl.

· Successfully held Capital Market Day on 5 June.

· Amendments to share option plan - replacement of existing agreements with a

new agreement with strike at NOK 3.2 per share (with reset of vesting).

Post Q2:

· New purchase order worth NOK 950,000 received August 7th related to the

first barcode design-win (back in 2000).

Horten, 15 August 2024 - poLight ASA (OSE: PLT) today announced its results for

Q2 2024.

"Revenue picked up during the quarter compared to the first quarter of the year.

From a market perspective, ongoing trends were clearly confirmed; the company

continues to improve its position in the AR/MR market and activity gradually

increased in the industrial/barcode market. News flow during the quarter

confirms this development. The smartphone/consumer market remains challenging,

but measures are actively being taken in order for us to be better prepared for

this market segment.

Important progress has been achieved on the development side, to secure an

improved offering relevant for all market segments in both the short and long

term. " explains Dr Øyvind Isaksen, CEO of poLight.

EBITDA totalled NOK -21.7 million in Q2 2024, compared with NOK -18.0 million in

Q2 2023.

As at 30 June 2024, poLight had cash and cash equivalents totalling NOK 199.3

million, compared with NOK 114.8 million as at 31 December 2023.

Q2 report and presentation

Please find the report and presentation for Q2 2024 enclosed.

poLight Q2 2024

report.pdf (https://mb.cision.com/Public/14821/4024428/9a5f5ebf3c1ce168.pdf)

poLight Q2 2024

presentation.pdf (https://mb.cision.com/Public/14821/4024428/92388f1b36020e61.pdf

)

Presentation and webcast

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

results today at 09:00 CET at Hotel Continental, Stortingsgaten 24/26, in Oslo,

Norway. You can also watch the Q2 2024 results presentation through a live

webcast by clicking here:

https://channel.royalcast.com/landingpage/hegnarmedia/20240815_8/ (https://eur01.

safelinks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Flandi

ngpage%2Fhegnarmedia%2F20240815_8%2F&data=05%7C02%7Calf.henning.bekkevik%40poligh

t.com%7C85c820eaf653495055dc08dc86ef4031%7Ccac0b87cc9e2402f9f9e3224b4036842%7C0%7

C0%7C638533609876943758%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luM

zIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=vnnyjgqNvzjTwxMGwSkRhKLv14lw

T7zf6lTla16jPIY%3D&reserved=0)

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, please contact:

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 ASA (OSE: PLT) offers patented, state-of-the-art tunable optics

technology, leveraging its proprietary polymer and piezo MEMS technology.

Founded in 2005, its first product TLens® replicates "the human eye" experience

in autofocus cameras used in applications such as AR/MR devices, smartphones,

wearables, webcams and other consumer devices, industrial barcode scanners and

machine vision systems, and healthcare applications. With over 160 granted

patents, poLight's technology delivers extremely fast focus, small

footprint, ultra-low power consumption, no magnetic interference, and constant

field of view, enabling better imaging system performance and new user

experiences compared to alternative technologies.  poLight is based in Horten,

Norway, with employees in Finland, France, UK, US, China, Taiwan, the

Philippines and Japan. For more information, please visit

https://www.polight.com.