SoftOx Solutions AS — Investor Presentation 2020

Sep 30, 2020

SoftOx Solutions AS A Norwegian MedTech Company listed on Merkur, OSE

Agenda

• Todays topics

Antibiotic resistance

The ability of bacteria and other microorganisms to resist the effects of an antibiotic to which they were once sensitive

Biofilm resistance

Aggregated bacteria often covered by slime (biofilm matrix), acting as a fortress and protect bacteria

Virus epidemics / pandemics

Treatment for virus infections and limit spread of virus outbreaks

"The world must be better prepared for the next pandemic"¹ World Health Organization chief Tedros Adhanom Ghebreyesus;

New ways of eradicating infections and fighting antimicrobial resistance

3

Pre-clinical experiments show outstanding results

Product portfolio based on SoftOx` patented technology

» Documented fully virucidal » Conducted clinical studies SoftOx Hand disinfectant

• Alcohol free hand disinfection

• • Documented very safe and skin friendly
• » Due to high demand HINAS established a separate class for alcohol free hand disinfectant » Excite International's expert panel recommends a strategy for replacing ABHR » Cost efficient gives a competitive advantage » Secured tapping facilities with sufficient capacity for growth » Established QA system

• Established production capacity

Shall become preferred hand disinfectant

2 clinical studies documenting excellent skin friendliness of AntiVir

A comparison of SoftOx disinfection solution (AntiVir), alcohol disinfection and saline on skin barrier function on intact and compromised skin in healthy subjects

"The skin barrier function of the healthy skin is unaffected by the repetitive exposure to AntiVir solution as compared to ABHR and control and that the new device is subjectively well-tolerated when applied on healthy skin."1)

Just as safe and skin friendly as saline (salt water)

1)Department of Dermatology, Bispebjerg Hospital, University of Copenhagen

Go-to-market: Hand disinfection for Healthcare markets Sales channels and target markets Healthcare savings and revenue scenario Sales through distribution partners

• Premium product, aimed at healthcare workers
• 25-50%5 of healthcare workers (HCW) have skin problems on their hands
• Skin friendly
• Planned to me made available in pharmacies, sold directly to large clients and through consumer channels

110 257 576 150 200 250 300 350 400 450 500 550 600 2020 2021 2023 2025 ^{2022 2024}

5

0

50

100

Market size

18.8 million HCWs in the EU and the US¹² Whereof 13.3 million have irritated skin and eczema¹

USD 1,0803 Value of effective prevention of hand eczema per HCW

USD 5.0 bn3

Value of hand health market in Europe and the US

Market share assumptions: Y1 (1%), Y2 (2%), Y3 (3%), Y4 (5%), Y5 (7%)

17

1 4

52

^{11 23}

Savings Revenue

1) ec.europa.eu/eurostat/Healthcare_personnel_statistics_-_nursing_and_caring_professionals 2015 & Presentation Prim. Univ.-prof Dr. Robert Strohal, Hospital Fledkirch

2) Center for Disease Control and Prevention (CDC) homepage https://www.cdc.gov/niosh/topics/healthcare/default.html

8 3) MedValue+, Radbound University Medical Center and Exite International's Panel of 11 KOL/experts – "2019 Health Technology Assessment; SoftOx Hand-wash for Health Care Workers with Eczema"

4) Company estimates 5) World Health Organization – Guidelines on Hand Hygiene in Health Care

54

121

USDm

Hand Disinfectant: AntiVir™ patent by SoftOx

Changed distribution model to increase competitiveness

Norway serves as a pilot market to better understand the post Covid19 consumer

• Production facilities established » Two facility for small bottles (up to 1 litre) » One facility for large bottle (1 litre and 5 litre) • Existing capacity » Focus on bottling and flexibility in bottle size and shape » New inhouse production line gives increased flexibility Strategic positioning – Production facilities

Production facilities

Production Capacity

• » Established alternatives for long term solutions
• New capacity

SoftOx wound products

• SoftOx Wound Irrigation Solution (SWIS)
• SoftOx Infection Remover (SBE)

• » Unique In Vitro-data on biofilm and resistance toxicity and local tolerance studies.

• from a US Government body (TBA)

  • until Proof of Concept

• 13

SoftOx Wound Irrigation Solution (SWIS) – Medical Device class III SoftOx Wound Irrigation Solution (SWIS) Characteristics of an ideal wound rinse:

• Safe in use (user friendly)
• Non-toxic to host cells/tissue
• Profound antimicrobial effect
• Be able to kill antibiotic resistant bacteria and not induce new resistance

Medical Device: SoftOx Wound Irrigation Solution (SWIS) development plan

SoftOx Infection Remover (SBE)

SoftOx Infection Remover (SBE) An effective antimicrobial for treatment of infections in wounds must:

• Penetrate and kill microbes within biofilms
• Be able to penetrate deep into the wound bed
• Be safe / non-toxic
• Be able to kill antibiotic resistant bacteria and not induce new resistance

Product development in cooperation with key players

» Preclinical animal studies • Observe possible effect » US regulatory preparedness (pre-IND) » Professor Thomas Bjarnsholt SoftOx Respiratory Track Solution (SIS)

• SoftOx Inhalation Solution (SIS)

• Agency (DMA) to discuss possible "fast-track" development

» Combat viral and bacterial infections in • Treatment of Covid-19 » Antiviral and antibacterial effect demonstrated in vitro » Tolerable & safe concentration range established in minipig model • Next step Treatment of infections in the respiratory tract

Unmeet need

• respiratory tract and lungs.

• » In October the company has scheduled a Scientific Advice meeting with Danish Medicines Agency to discuss optimal drug development and potential "fast track" designation

Answering the unmet medical need of treating respiratory tract infections

Financial highlights

SoftOx Solutions Group
NOK 1,000	Q2 2020	Q2 2019	Change	2020	YTD 2019 Change		2019
Other operating revenues	6 2 6 6	1 2 6 7		7505	2557		4099
Total operating revenues	6 2 6 6	1 2 6 7	394 %	7505	2557	194 %	4 0 9 9
Personnel expenses	3 3 0 4	2 3 9 5		6 6 6 0	4956		11 197
Other operating expenses	12 2 38	3488		17093	6 2 1 6		13 0 71
Depreciation	618	278		901	555		1701
Depreciation, goodwill
Total operating expenses	16 160	6 1 6 1	162%	24 653	11728	110 %	25 969
Operating result	$-9894$	$-4893$		$-17148$	$-9171$		$-21870$
Net financial items	93	12		102	37		$-308$
Net result before taxes	$-9801$	$-4882$	101 %	$-17046$	$-9134$		87 % -22 178
Tax							5842
Net result after tax							$-16336$

Operating revenue, increase

driven by sale of disinfection products

Operating expenses, increase driven by

• Increased production capacity
• Research and development
• Cost of goods sold

Financial highlights

Cash flow statement	Q2 2020	Q2 2019	YTD 2020	YTD 2019
SoftOx Solutions Group
NOK 1,000
Cash flow from operating activities	$-13876$	$-8404$	$-34045$	$-14231$
Net result before taxes	$-9801$	$-4882$	$-17046$	$-9134$
Depreciation	618	278	901	555
Change in current assets	$-5000$	$-1192$	$-6986$	$-1892$
Change in current liabilities	306	$-2608$	$-10915$	$-3760$
Cash flow from investment activities	$-6230$	0	$-7461$
Investments in non-current assets	$-6230$		$-7461$
Cash flow from financing activities	1 1 7 3	15858	942	15855
Proceeds from equity issues	1010	17894	1010	17894
Other financing activities	n	$-2000$	$-114$	$-2000$
Translation differences	163	$-36$	46	$-39$
Net change in cash and cash equivalents	$-18934$	7454	$-40565$	1624
Cash and cash equivalents at end of period	35 431	2861	35 431	2861

Net change in cash and cash equivalents

• Approx. NOK 11 mill due to repayment of short-term loans - Approx. NOK 8 mill in
• increased production facilities

22 1) Calculated by adding the potential markets 2) Company estimate

New ways of eradicating infections and fighting antimicrobial resistance