NEXT Biometrics Q4 Revenue Update

16 Jan 2025 08:30 CET

NEXT Biometrics had contracted orders for Q4 above Q3 reported revenue. However,
booked revenue in Q4 amounts to NOK 13 million. The shortfall is due to the
Indian government temporarily pausing all new business within the Adhaar system
following security incidents with a competing technology to the NEXT Active
Thermal. This situation is believed to be short-lived, and will benefit NEXT
going forward.

The Indian government has decided to increase security levels in the Adhaar
system, and all vendors are required to pass the new tests before resuming
business. It is assumed that some of NEXT competitors will not fulfill the new
security requirements, and therefore NEXT expects increased market share.

A specific date for reopening of business has not been communicated, but the
Adhaar program is vital to a large part of the Indian population, and the pause
is believed to be lifted soon. NEXT expects to deliver the unfulfilled orders in
Q1, along with further orders to follow up business as usual.

NEXT will publish the Q4 report on February 19th.

This information in this stock exchange announcement is considered to be inside
information pursuant to the EU Market Abuse Regulation and is published in
accordance with section 5-12 the Norwegian Securities Trading Act.

For more information, please contact
Ulf Ritsvall, CEO, NEXT
ulf.ritsvall@nextbiometrics.com

Eirik Underthun, CFO, NEXT
eirik.underthun@nextbiometrics.com

About NEXT Biometrics
NEXT provides advanced fingerprint sensor technology that delivers uncompromised
security and accuracy for the best possible user experience in the payment and
fintech, government ID, access control and office and notebook markets. The
company’s patented NEXT Active Thermal ® principle allows the development of
large, high-quality fingerprint sensors with superior security level. NEXT
Biometrics Group ASA is headquartered in Oslo, with sales, support, and
development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai.

This stock exchange announcement was published by Eirik Underthun, CFO at NEXT
Biometrics Group ASA, on 16 January 2025, at 08:30 hours (CET).

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