Polight ASA

Earnings Release • Feb 27, 2024

poLight ASA - continues to build position in the augmented/mixed reality space

poLight ASA - continues to build position in the augmented/mixed reality space

KEY EVENTS in the quarter

· Follow-on mass production order, worth NOK 0.35 million, from an augmented

reality (AR) customer (received 22 November)

· New design-win and initial mass production purchase order, worth NOK 0.4

million, for a high-end mixed reality head-mounted device (confirmed 27

November)

· Purchase order, worth NOK 2.5 million, relating to a Mini2p application

(received 7 December)

· Follow-on purchase order, worth NOK 2.9 million, for an augmented reality

(AR) case (received 19 December)

Horten, 27 February 2024 - poLight ASA (OSE: PLT) today announced its results

for Q4 2023.

"The activity in the fourth quarter picked up nicely and several important

milestones were achieved. AR/MR-related activity, in particular, remains strong.

During the quarter, two follow-on orders were announced, as well as one new

design-win for a high-end mixed reality head-mounted device.

We are continuing to strengthen our organisation to enable us to better explore

the opportunities ahead, handle challenges more effectively and evolve our

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

EBITDA totalled NOK -26.3 million in Q4 2023, compared with NOK -15.0 million in

Q4 2022.

As at 31 December 2023, poLight had cash and cash equivalents totalling NOK

114.8 million, compared with NOK 84.2 million as at 31 December 2022.

Q4 report and presentation

Please find the report and presentation for Q4 2023 enclosed.

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 Q4 2023 results presentation through a live

webcast by clicking here:

https://channel.royalcast.com/landingpage/hegnarmedia/20240227_4/ (https://eur01.

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

ngpage%2Fhegnarmedia%2F20240227_4%2F&data=05%7C02%7Calf.henning.bekkevik%40poligh

t.com%7C513fa59c4cc7483030fb08dc11e6cf31%7Ccac0b87cc9e2402f9f9e3224b4036842%7C0%7

C0%7C638404930233055877%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luM

zIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=yAA%2BLp4PxUgiCZuGSCZL2U0

7x70E1FRbjlXW0D46C5Y%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 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 ASA (OSE: PLT) offers a patented, proprietary tunable optics technology,

starting with its first product, TLens® which replicates "the human eye"

experience in autofocus cameras used in devices such as smartphones, wearables,

barcode scanners, 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 employees in Finland, France, UK, US, China, Taiwan, and

the Philippines. For more information, please visit https://www.polight.com