NEXT Biometrics signs MoU with additional OEM partner in India

27 Apr 2023 13:59 CEST

Oslo, April 27, 2023 – NEXT Biometrics (Oslo Bors: NEXT), signs MoU with an
additional Partner in India. The MoU includes a Purchase Order commitment of USD
1.4 million at signing of the final commercial agreement.

NEXT Biometrics has signed a MoU for a long-term partnership agreement with an
additional partner in India. The partner will integrate NEXT FAP20 flagship
sensor in its own devices and secure its own certification with local
authorities in India. The partner forecasts annual device production
corresponding to NEXT sensor shipments of USD 1.4-2.8 million per year.

The main agreements in the MoU that will be incorporated into the final
commercial agreement are:
1. A multi-year FAP20 commercial long-term partnership agreement, between 2-5
years.

2. At signing of the commercial agreement, the partner will place an initial PO
of USD 1.4 million.

3. Long-term volume pricing, delivery terms and shipment schedule to be agreed
in the final commercial agreement.

4. The Partner will design in NEXT FAP20 sensor into their own products and
secure its own local certification in India.

5. The partner will be provided certain rights to sell their certified product
to other OEMs both in India Aadhaar ecosystem as well as outside India.

“Adding additional local authentication OEMs in India for a long-term FAP20
partnership agreement is in line with NEXT’s ambition to expand in the world’s
largest biometric market. It also proves our competitive advantage in this
attractive market”, says Ulf Ritsvall, SVP Sales & Marketing of NEXT Biometrics.

NEXT estimates to reach a final commercial agreement with this new partner
before end of Q3 2023.

”With this MoU, NEXT demonstrates, its strong ambition, in accelerating our
updated Go-To-Market strategy in India. NEXT will continue its efforts adding
product manufacturers and partners with strong local presence. This will enable
us to reach a higher market share in a cost-effective way”, says Ulf Ritsvall.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

About NEXT Biometrics
NEXT provides advanced fingerprint sensor technology that delivers uncompromised
security and accuracy for the best possible user experience in the smart card,
government ID, access control and notebook markets. The company’s patented NEXT
Active Thermal™ principle allows the development of large, high quality
fingerprint sensors in both rigid and flexible formats. NEXT Biometrics Group
ASA (www.nextbiometrics.com) is headquartered in Oslo, with sales, support and
development operations in Seattle, Taipei, Bengaluru and Shanghai.

# # # # #

NEXT Investor contact:
Peter Heuman, peter.heuman@nextbiometrics.com
Eirik Underthun, eirik.underthun@nextbiometrics.com

This stock exchange announcement was published by Eirik Underthun, CFO at NEXT
Biometrics Group ASA, on April 27, 2023 at 13:55 CET.

More information:
Access the news on Oslo Bors NewsWeb site