Vistin Pharma — Earnings Release 2020

Apr 23, 2020

Vistin Pharma ASA: First quarter 2020 financial results

Vistin Pharma ASA: First quarter 2020 financial results

Oslo, Norway, 23 April 2020

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces the financial

results for the first quarter of 2020, with a 45% increase in revenue and a

record quarterly result of 14.2 million for the pharmaceutical business.

As previously announced all oil derivate positions in the Energy trading

business was closed on the 30(th) of March. The net financial loss in Q1 from

closing the portfolio was approx. NOK 166 million.

The revenues for the first quarter 2020 ended at NOK 61.4 million (Q1 2019: NOK

42.2 million).

The net loss for the period ended at NOK 130.8 million (2.0), which included the

loss of closing the oil derivative portfolio.

Vistin Pharma had cash of NOK 316.8 million (299.6) as of 31 March 2020.

Settlement for oil derivatives was not completed before April (Q2). The

settlement will decrease the above cash balance with approx. NOK 179M.

Based on the closing and final settlement of the oil derivative positions, the

Board will propose to pay a dividend of NOK 1 per share to its shareholders. The

dividend to be approved by the AGM.

The first quarter conference call, which will be held today, 23 April, at

8.30am (CEST) and will be available via web and audio through the following

access points:

Telephone conference:

Confirmation Code:........ 5385809

International Dial-In:........ +44 (0) 2071 928000

Norway, Oslo:................ +47 23960264

United States, New York: +16315107495

Webcast:

https://edge.media-server.com/mmc/p/za9hkqym

The conference call will be held in Norwegian.

Please find the Q1 2020 Report and presentation enclosed. The report will also

be made available on www.vistin.com (http://www.vistin.com).

*****

For further information, please contact:

Kjell-Erik Nordby

CEO

+47 91 36 42 80

kjell-erik.nordby@vistin.com (mailto:kjell-erik.nordby@vistin.com)

Alexander Karlsen

CFO

+47 97 05 36 21

alexander.karlsen@vistin.com (mailto:alexander.karlsen@vistin.com)

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

About Vistin Pharma | www.vistin.com

Vistin Pharma is a Norwegian pharmaceutical company producing Metformin

Hydrochloride (API). The Metformin is also available as Direct Compressible

lubricated granules. As a solely dedicated European Metformin producer, Vistin

Pharma is a well-positioned supplier to leading pharmaceutical companies. Vistin

Pharma is headquartered in Oslo, Norway, and has highly qualified employees and

a dedicated manufacturing facility in Kragerø.