Polight ASA — Report Publication Announcement 2021

May 7, 2021

poLight ASA - Positive development in smartphone market

poLight ASA - Positive development in smartphone market

KEY EVENTS

* poLight received a follow-up purchase order related to the Honeywell EX30

barcode scan engine

* Good progress on customer cases - both in consumer and professional markets

* The positive development in smartphone market continues

* First design-win for a web camera application (after the reporting date)

Horten, 7 May 2021 - poLight ASA (OSE: PLT) today announced its results for

first quarter of 2021.

Tunable optics, such as poLight TLens, are attracting more and more attention in

the smartphone market. The already ongoing Proof of Concept (PoC) has moved to

project phase, and during the quarter further testing and design optimisation

has been continuing with promising results. Market release and ramp-up planning

is ongoing. Further the recent development has led to new initiatives driven by

other OEMs and camera module makers.

After the reporting date for the first quarter 2021, poLight was awarded a

design-win for a web camera application from Maxhub and the initial feedback

from the market has been positive.

EBITDA in the first quarter was NOK -20.2 million, whereof NOK 8.0 million

recognised as share option plan expense, compared with an EBITDA of NOK -16.1

million in the first quarter of 2020.

Cash at 31 March 2021 came to NOK 68.4 million, compared with NOK 77.2 at 31

December 2020.

"Activity at poLight is at an all-time high. We are busy providing customer

support, delivering products and preparing to expand our capacity. The

atmosphere is extremely positive. After the first quarter reporting date, we

achieved another design-win related to a web camera application - another new

application for our unique TLens. Step by step we are building a platform of

various reference cases which will future-proof the company. Although we have

recently made considerable progress, there is no doubt that we are facing

challenging times in many respects. Not only are we at an early stage of

commercialisation/ramp-up, the general supply chain situation in the industry is

leading to component and capacity shortages. Fortunately, we have a well

-functioning, worldwide organisation, which is well able to address every

challenge constructively. The organisation has also been further strengthened

during the quarter. Interesting times!", said Øyvind Isaksen, the CEO of

poLight.

Q1 report and presentation

Please find the report and presentation for Q1 2021 enclosed.

poLight Q1 2021

report.pdf (https://mb.cision.com/Public/14821/3342467/97ee304336f55780.pdf)

poLight Q1 2021

presentation.pdf (https://mb.cision.com/Public/14821/3342467/8f14c8a71380ea58.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 Q1 2021 results

webcast by clicking here:

poLight ASA Webcast Q1 2021

(royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/2021050

7_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 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, France and

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

https://www.polight.com