poLight ASA - a quarter with continuing good progress - enterprise Augmented reality (AR) product using TLens® confirmed to be on the market in 2022

03 Nov 2022 07:00 CET

Horten, 3 November 2022 - poLight ASA (OSE: PLT) today announced its results for
Q3 2022.

KEY EVENTS in the Quarter

*  Follow-on order from an Augmented Reality (AR) customer, confirming that an
enterprise AR product using TLens® will be on the market in 2022

*  Other AR cases also progressing well - encouraging pipeline building up

*  Xenocore has confirmed use of TLens® in their next generation disposable
laparoscope (Saberscope), which is in the qualification stage

*  Increased activity in the industrial market, especially barcode-related

*  Teledyne e2v launched "Optimom 2M - Multi Focus Lens" at Vision Expo in
Stuttgart - their 2nd generation camera powered by TLens®

*  Smartphone cases actively pursued - likely that market demand for a higher
-performance selfie camera will increase over time

"A busy quarter supporting an increasing number of customers and Proof of
Concept (PoC) projects. Most of the company's activities involve supporting
customer projects at various maturity levels. Overall, we are experiencing good
and encouraging progress, but there are also challenges which need to be
tackled. The augmented reality cases we are exploring remain promising, and it
has been confirmed that the first enterprise augmented reality (AR) product
using TLens® will be on the market this year. This is a very important milestone
for us. Even though the smartphone OEMs have been negatively impacted by market
sentiment lately, PoC in this area have contributed to a hectic quarter. Other
market segments such as industrial and medical are maturing. An increasing
number of barcode cases are being explored and the first medical use case for
TLens®, a disposable laparoscope with autofocus, is undergoing qualification.",
said Dr. Øyvind Isaksen, the CEO of poLight.

EBITDA totalled NOK -11.3 million in Q3 2022, compared with NOK -2.9 million in
Q3 2021. The net income in Q3 last year was attributable to reversed accrued
employer's national insurance contributions (NICs) of NOK 5 million relating to
the share option plan due to the share price decline in the quarter.

As at 30 September 2022 poLight had cash of NOK 104.4 million, compared with NOK
228.7 million as at 30 September 2021.

Q3 report and presentation

Please find the report and presentation for Q3 2022 enclosed.

poLight Q3 2022
report.pdf (https://mb.cision.com/Public/14821/3660473/9a08b1542931dbf4.pdf)

poLight Q3 2022
presentation.pdf (https://mb.cision.com/Public/14821/3660473/915656d158ee5ef9.pd
f
)

Presentation and webcast

CEO Dr. Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company's
results today at 09:00 CET at Continental, Stortingsgaten 24/26, in Oslo,
Norway. The presentation can also be followed through live webcast. Join the Q3
2022 results webcast by clicking here:

https://channel.royalcast.com/landingpage/hegnarmedia/20221103_5/ (https://eur01
.
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ngpage%2Fhegnarmedia%2F20221103_5%2F&data=05%7C01%7Calf.henning.bekkevik%40polig
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8mQhiMmVwwkxPDckaVqwMU%3D&reserved=0)

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:

Dr. 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 employees in Finland, France, UK,
US China and Taiwan. For more information, please visit https://www.polight.com

More information:
Access the news on Oslo Bors NewsWeb site

574604_poLight_Q3_2022_presentation.pdf
574604_poLight_Q3_2022_report.pdf