Tromsø, Norway, February 1st, 2024 - ArcticZymes Technologies (OSE: AZT)
reported sales of NOK 28.4 million and an EBITDA of NOK 2.0 million for the
fourth quarter of 2023.

Highlights from Q4 and 12 months 2023

· ArcticZymes Technologies (AZT) had Q4 sales of NOK 28.4 million (Q4 2022:
NOK 28.2 million) and sales for the whole year 2023 of NOK 118.9 million (12M
2022: NOK 137.0 million, NOK 122.0 million adjusted for Covid effects in 2022)

· AZT had a positive EBITDA for Q4 of NOK 2.0 million (Q4 2022: NOK 1.3
million) and a positive EBITDA for the whole year of NOK 22.2 million (12M 2022:
NOK 41.5 million and NOK 26.5 million adjusted for Covid effects in 2022)
· Operating expenses for Q4 were 27.1 million (Q4 2022: NOK 27.2 million) and
for the first 12 months expenses were NOK 97.4 million (12M 2022: NOK 96.2
million)
· Cash flow for Q4 was positive NOK 3.1 million (Q4 2022: NOK 5.6 million) and
NOK 2.1 million for 2023 (12M 2022: NOK 23.3 million), giving a cash balance of
NOK 180.9 million. In addition, NOK 69 million is invested in low-risk interest
rate funds.
· New partnership agreement with Biomatter to apply AI for generation of new
enzyme prototypes
· Launch of T7 RNA Polymerase for molecular research and diagnostics

CEO Michael B. Akoh comments:

"The conclusion of the fourth quarter signifies the close of a demanding year
for ArcticZymes and the broader life science tools sector. While we may not have
achieved all the goals outlined for 2023, we successfully reached significant
milestones crucial for the long-term growth of our business."