Zaptec AS — Earnings Release 2021

Aug 27, 2021

Zaptec AS Second quarter financial results: Profitable growth in an expanding EV market

Zaptec AS Second quarter financial results: Profitable growth in an expanding EV market

Q2 2021 Highlights

- Strong revenue growth up 95% from Q2-20, despite challenging component market

- Total purchase orders up 150% from Q2-20

- Order back log of MNOK 26 due to a 3 week stop in PRO production,

with an estimated EBITDA effect of 10 MNOK sliding into Q3

- Improved gross margin of 35.8% as planned, up 2.5% from first quarter

- Adjusted EBITDA MNOK 11.7 and positive net profit of MNOK 3.8

- Favorable macro conditions with high growth in new EV sales in all our markets

- Increased competitiveness with the new version of Zaptec PRO

- Ramp up of production of Zaptec GO on track

Outlook

The electric vehicle market is growing strongly in all our key markets. Zaptec expects this growth to continue due to government push for lower emissions, new electric car models and falling battery pack prices.

The AC charging market is very strong as people prefer to charge at home due to convenience and lowest energy prices compared to DC charging.

Zaptec has an European strategy and we aim for strong profitable growth with a double digit market share in all the countries where we currently invest.

Please refer to the attached report and presentation for further details.

For more information:

Anders Thingbø, CEO, Zaptec AS Tel: +47 934 88 385, e-mail: at@zaptec.com

Kurt Østrem, CFO, Zaptec AS Tel: +47 404 04 700, e-mail: kurt@zaptec.com

About Zaptec: Zaptec AS is a technology company within Electronic vehicle (EV) charging systems in Europe. The company develops EV charging systems for multi and single-family homes and office buildings. The product portfolio enables large number of charging points at a low cost and includes Zaptec Pro, Zaptec Go, Charge365 payment services, Charging columns, Zaptec Portal, and Zaptec APM. The company accelerates the electrification of the transport sector to assist European countries in reducing CO2 emissions from light-duty cars.