Slides
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OSE: AZT | Pareto Securities' 17th Annual Healthcare Conference | Stockholm, 2 September 2026 The Compounding Enzyme Platform High-margin enzymes embedded in the workflows behind advanced therapies and molecular diagnostics — recurring revenue, scaling margins Michael B. Akoh, Chief Executive Officer Børge Sørvoll, Chief Financial Officer
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A unique, scalable and profitable enzyme platform Who we are 2 30+ Years experience Enzyme innovator with industry knowledge built over several decades selling direct globally 55 Full-time employees With deep expertise in developing, manufacturing and commercializing high-performance enzymes 118MNOK revenue (2025) Scalable platform model with positive EBITDA and strong growth drivers Strengthening market position - more customers seeing the value of our high-performance enzymes Direct sales to 360+ unique customers 93 118 138 159 172 193 182 169 194 220
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T H E A N S W E R F I R S T The investment case in five lines If you remember nothing else from the next fifteen minutes, remember these 1 Embedded by design Enzymes written into regulatory filings and customer SOPs. 360+ customers, recurring revenue, high switching costs. Opportunities to develop key accounts in near time 2 Operating leverage in plain sight Largely fixed cost base. Revenue from 120 → 200 MNOK lifts EBITDA margin from ~12% to ~32%. 3 Diversified across ~$28B of growth Four end-markets — PCR, NGS, viral vector, RNA — growing 5–17% p.a. Strategy execution progress means that we are becoming more diversified. 4 Funded for growth 265 MNOK cash, zero debt. Funds organic growth and selective M&A without dilution. 5 Momentum, not a quarter H1 2026: +27% sales revenue (+39% CER), EBITDA positive (9MNOK) — consecutive quarterly growth.
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T H E B I G P I C T U R E — W H Y T H I S M A R K E T , W H Y N O W One problem, two markets: unwanted DNA In therapies it contaminates the medicine; in diagnostics it hides the answer — we solve both THE REVOLUTION Cell, gene and RNA therapies are transforming medicine, while molecular diagnostics are enabling faster and earlier detection. Together, they represent multi-billion-dollar growth markets. T HE C HA LLE NGE HO W A R C TICZYME S S O LV E S IT Advanced therapies Cell, gene & RNA Host-cell DNA must be cleared from every batch — impurities threaten safety, yield, approval and cost Real process conditions are high-salt and chromatin-bound, where conventional nucleases lose activity Salt Active Nucleases stay active exactly where others fail — far fewer enzyme units per batch >40% lower enzyme cost per dose, and a cleaner, safer product Molecular diagnostics PCR, NGS & metagenomics In patient samples, host DNA overwhelms the pathogen signal — cutting sensitivity and consuming sequencing capacity Clinical sample conditions often defeat conventional nucleases Salt Active Nucleases remove host DNA from patient samples, improving sensitivity and turnaround M-SAN HQ enables same-day pathogen ID — sample-to-report under 7 hours WHERE WE FIT: One enzyme platform, two high-growth markets. We do not depend on a specific therapy or diagnostic test; we solve a shared biological challenge across both.