Interim report
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www.arcticzymes.com ԢԠԢ6 3rd Quarter Quarterly Report
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ArcticZymes Q3 2026: Execution of Strategy Drives Strong, Profitable Growth . Sales U p 15% (24% in constant currency), D riven B y 44% G rowth In B iomanufacturing ArcticZymes continued to grow profitably in the third quarter of 2026. Sales revenue rose 15% to NOK 32.9 million, or 24% at constant exchange rates, led by 44% growth in Biomanufacturing, where sales to CDMOs (contract manufacturers that produce medicines on behalf of drug developers) doubled. Over the first nine months, sales grew 23% while operating expenses grew 13%. EBITDA more than tripled to NOK 12.1 million, and EBIT turned from a loss of NOK 3.0 million into a profit of NOK 5.3 million. The results show that more customers are building ArcticZymes enzymes into how they manufacture new medicines, which can create recurring demand, and that the business is growing profitably. Q3 2026 Highlights Sales revenue: NOK 32.9 million (Q3 2025: NOK 28.5 million), +15%; +24% at constant exchange rates Total revenue: NOK 33. 1 million (Q3 2025: NOK 29.8 million), +11% EBITDA: NOK 3.1 million (Q3 2025: NOK 3.5 million), a margin of 9% (Q3 2025: 12%) o Currency movements reduced estimated EBITDA by approximately NOK 2.4 million Net profit: NOK 1.4 million (Q3 2025: NOK 2.8 million) First Nine Months 2026 Highlights Sales revenue: NOK 96.6 million (9M 2025: NOK 78.5 million), +23% EBITDA: NOK 12.1 million (9M 2025: NOK 3.7 million), a margin of 1 3 % (9M 2025: 5 %) o Currency movements reduced estimated EBITDA by approximately NOK 7.7 million EBIT: NOK 5.3 million (9M 2025: NOK -3.0 million) Cash and short-term investments of NOK 2 7 1.5 million Bus iness Segments Biomanufacturing sales were NOK 18.8 million in the quarter, up 44% and 57% of Group sales. Growth included a new CDMO customer using M-SAN, an enzyme that removes unwanted DNA during production, to make lentivirus (a viral carrier used to deliver genes) for in vivo CAR-T cancer therapies. Molecular Tools sales were NOK 14.1 million, down 8%, as several customer orders moved into the fourth quarter. Year to date, Molecular Tools is up 39% to NOK 46.6 million. Entry into RNA Medicines On 27 October 2026, ArcticZymes launched RiboClean ™ dsDNase and RiboCleave ™ 1, its first enzymes for producing RNA medicines. RNA is the technology behind mRNA vaccines and a growing number of new treatments, and the launch opens a new market for the Company. RNA production relies on several specialised enzymes, giving ArcticZymes the opportunity over time to supply multiple steps of the same process. RiboClean ™ dsDNase is estimated to cut nuclease cost per batch by more than 80%, and RiboCleave ™ 1 shortens a key quality test from around six hours to around 30 minutes. The products are offered through an early-access program, with revenue expected to build as customers adopt them and scale up.
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Key financial figures : M NOK Q 3 20 2 6 Q 3 2025 Change YTD 20 2 6 YTD 202 5 Change Sales 3 2.9 2 8.5 1 5 % 96.6 78.5 2 3 % Total revenues 33.1 29.8 1 1 % 102.0 83.6 2 2 % Operating expenses 30.0 2 6.2 14 % 89.9 79.9 1 3 % EBITDA 3.1 3.5 -1 2 % 12.1 3.7 22 9 % Profit before tax 1.7 3.6 -5 1 % 8.8 3.5 151 % Cash and STI 2 71.5 2 58.3 5 % 2 71.5 2 58.3 5 % Introduction ArcticZymes Technologies ASA, (hereinafter “ AZT ” or “ the Company ” ) provide s high-quality enzymes for molecular research, diagnostics and biomanufacturing. Business review Commercial Sales performance: Q3 2026 was a str ong quarter compared with the last three years, driven by above-average sales in Biomanufacturing. Group sales grew 15% year- on-year, an increase of NOK 4. 4 million, despite currency headwinds of around 7% . T railing 12- month sales kept rising and reached NOK 128.5 million at the end of Q3 2026. Biomanufacturing sales of NOK 18 .8 million rose 44% year-on-year against a modest Q3 2025 comparator, and 18% sequentially against Q2 2026. This was the segment's strongest quarter since Q4 2022 and the third strongest in its history. Molecular Tools sales of NOK 1 4.1 million were in line with quarterly averages from recent years, but 8 % below Q3 2025 . Biomanufacturing was the principal driver of group growth. Order development: ArcticZymes recorded 327 orders in Q3 2026 against 334 in Q3 2025, excluding free-of-charge samples, while average order value rose 15.5% to NOK 92 thousand. The increase in average order value came mainly from larger CDMO orders in Biomanufacturing, where average order value rose 45.2%. Revenue distribution: Biomanufacturing and Molecular Tools accounted for approximately 57% and 43% of Q3 2026 sales, at NOK 18. 8 million and NOK 1 4.1 million respectively. This keeps the revenue base balanced and diversified. Biomanufacturing delivered a particularly strong quarter, and Molecular Tools performed in line with its recent quarterly averages.
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Biomanufacturing Biomanufacturing revenues of NOK 18. 8 million grew strongly in Q3 2026, rising 44.1% year-on- year and 18.4% against Q2 2026. M-SAN HQ was the main growth driver. GMP versions delivered NOK 7.0 million, up 227% year-on-year and in line with the record Q2 level . Underlying demand remains solid. Sales to CDMOs doubled year-on- year, and trailing 12-month sales directly to CDMOs now surpass their COVID-era highs. The distributor and reseller channels also continue to grow in importance . Molecular Tools Molecular Tools sales of NOK 1 4. 1 million were in line with quarterly averages from recent years. They were 8 .0% below a strong Q3 2025, notably with a healthy order book, part of which will be delivered in Q4 . Sales to the key OEM account were only slightly down year-on-year d ue to phasing . All four major product groups in the portfolio remain on track to deliver solid growth in 2026. Strategic initiatives During Q 3 2026, ArcticZymes continued to execute on the strategic priorities presented at the Capital Markets Day in March 2026, centred on building a scalable enzyme platform with growing penetration across critical customer workflows. Innovation focus — RNA enzymes ArcticZymes will continue to strengthen its innovation focus, with particular emphasis on RNA enzymes for in vitro transcription workflows, as reported earlier . After the end of the quarter the Company entered RNA therapeutics market with two new enzymes targeting manufacturing and analytical efficiency . On 27 October 2026, ArcticZymes launched RiboClean ™ dsDNase and RiboCleave ™ 1, its first enzymes for producing RNA medicines. RNA is the technology behind mRNA vaccines and a growing number of new treatments, and the launch opens a new market for the Company. Producing RNA medicines typically requires many more enzymes than viral vector production, ArcticZymes' established biomanufacturing market, giving the Company the opportunity over time to supply several steps of the same manufacturing process. Both products make RNA medicines cheaper and faster to produce and test. RiboClean ™ dsDNase removes leftover DNA after the RNA has been made. It fits directly into customers' existing processes and is modelled to cut nuclease costs for this step by more than 80% per batch, doing the same job with ten times less enzyme than the standard alternative, with no detectable effect on RNA quality or yield in testing. RiboCleave ™ 1 speeds up a key quality test that checks whether mRNA molecules are correctly finished, cutting sample preparation from about six hours to 30 minutes. Both are offered through an early-access programme, with revenue expected to build as customers adopt them and scale up.
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The Company will in the coming years continue to bu ild out the RNA portfolio ensuring a more robust and diversified operating platform. Financial review AZT reported sales revenue of NOK 32.9 million for the third quarter of 2026 (Q3 2025: NOK 28.5 million), an increase of 15%. EBITDA was NOK 3.1 million (Q3 2025: NOK 3.5 million), while EBIT was NOK 0.8 million (Q3 2025: NOK 1.3 million). Profit before tax was NOK 1.7 million (Q3 2025: NOK 3.6 million), and net profit was NOK 1.4 million (Q3 2025: NOK 2.8 million). Adjusting EBITDA for constant currency, Q3 2026 EBITDA would be an estimated 2.4 MNOK stronger or NOK 5.5 million For the first nine months of 2026, sales revenue increased to NOK 96.6 million (9M 2025: NOK 78.5 million). EBITDA increased to NOK 12.1 million (9M 2025: NOK 3.7 million), and EBIT improved to NOK 5.3 million from a loss of NOK 3.0 million. Profit before tax was NOK 8.8 million (9M 2025: NOK 3.5 million), while net profit increased to NOK 7.2 million (9M 2025: NOK 3.0 million). Adjusting EBITDA for constant currency, 9M 2026 EBITDA would be an estimated 7.7 MNOK stronger or NOK 19.8 million . The C ompany recognised NOK 0.14 million in tax grants for Q3 2026. There were no grant related revenues from the “ Advanced therapies enzyme project ” funded by the Research Council of Norway in the third quarter as the majority of available revenues were recognised in the first half of the year . Operating expenses in Q 3 2026 were NOK 30.0 million compared to Q 3 2025 expenses at NOK 2 6.2 million. Personnel expenses decreased from NOK 1 8.9 million to NOK 1 8 .8 million due to capitalization of NOK 1. 5 million in the third quarter of 2026 . NOK 0.3 million was capitalized in the same quarter last year. Loss of 0.7 MNOK in operations due to production re-runs . Other operating expenses amounted to NOK 8. 9 million compared to NOK 6.7 million in Q 3 2025 due to higher act ivity levels across many departments . Currency has impacted other operating expense s negatively by NOK 0. 5 million in the quarter
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Adjusting for currency effects, other operating expenses for 202 6 would have been at NOK 8.4 million whereas Q 3 2025 would have been NOK 6 .6 million or a net currency impact of NOK 0, 4 million between the years . Taxes Income tax expense was NOK 0.4 million in Q3 2026 (Q3 2025: NOK 0.7 million) and NOK 1.6 million for the first nine months (9M 2025: NOK 0.5 million). The Company had NOK 0 million in deferred tax assets at the end of Q 3 2026 and will have tax payable moving forward . Fin a n c i a l p o s i ti o n A s of 30 September 2026, total assets were NOK 383.8 million (30 September 2025: NOK 353.0 million), and total equity was NOK 349.6 million (NOK 330.5 million). Cash and cash equivalents were NOK 191.9 million, while accounts receivable and other assets amounted to NOK 111.8 million. Total liabilities were NOK 34.2 million, including lease liabilities of NOK 17.8 million. The Company had no interest-bearing debt other than lease liabilities. C a sh f l o w Net cash flow from operating activities was NOK 13. 0 million for the first nine months of 2026 (9M 2025: NOK 17.2 million) Net cash flow from investing activities was negative NOK 5 .8 million (negative NOK 3.0 million), mainly reflecting investments in machinery, equipment and intangible assets. Net cash flow from financing activities was negative NOK 3.0 million (negative NOK 2.8 million), relating to lease payments and interest. The net increase in cash during the period was NOK 4. 1 million, and cash at the end of the period was NOK 19 1 .9 million. In a d d itio n , th e C o m p a n y h e ld N O K 7 9 .6 m illio n in lo w -ris k , liq u id in te re s t ra te fu n d s c la s s ifie d a s o th e r a s s e ts . S h a r e h o l d e r m a tters The total number of issued shares was 51,071,390 at the end of the quarter. 1,380,000 options were outstanding as of 3 0 .0 9 .2026. See the Annual Report for 2025 and notes 9 and 11 in the Q 3 2026 financial statements for further details on option programs. Strategic O utlook ArcticZymes passes the first 9M of 2026 with a clear strategic framework and a strengthened commercial foundation, having outlined at its Capital Markets Day in March the priorities and
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financial ambition that will guide the business through 2026 – 2028. The first 9M of the year has delivered against that framework: sales revenue of NOK 96.6 million is 2 3 % above the same period last year, or 3 3 % at constant currency, and EBITDA of NOK 12 .1 million compares with NOK 3.7 million a year ago. The Company's focus remains disciplined: scale a high-performance commercial engine, deepen penetration in high-value workflows, and build RNA therapeutics as a third structural growth pillar alongside its established Molecular Tools and Viral Vector franchises. In Viral Vector manufacturing, ArcticZymes continues to accelerate market penetration with its Salt Active Nuclease portfolio. New CDMOs onboard illustrates the strong value proposition of the SAN portfolio in terms of increases yield and better purity. RNA therapeutics represents the Company's most significant medium-term growth opportunity. With the first two solutions on the market now the Company will enter an interesting scale up journey to support customers bring new RNA therapeutics to the market. ArcticZymes' ambition is sustainable double-digit growth, targeting outperformance of its served markets through disciplined commercial execution, increasing workflow penetration, and compounding operating leverage. Reflecting its confidence in ArcticZymes ’ growth prospects and strong financial position, the Board has asked management to evaluate capital allocation options, including a potential share buyback and the possible use of treasury shares as consideration in future acquisitions. The Company is mindful of the broader geopolitical and macroeconomic environment, including evolving trade policy, tariff developments and currency volatility, which may introduce variability in customer ordering patterns and cross-border logistics. Currency movements were a material factor in the third quarter, reducing reported sales by NOK 2. 4 million as the US dollar and E uro weakened against the Norwegian krone. ArcticZymes is actively monitoring these dynamics and maintains a diversified geographic and customer footprint, established commercial partnerships, and operational flexibility that together support resilience. The Company will continue to assess the situation and adapt its commercial and operational planning as conditions evolve.
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CONSOLIDATED STATEMENT OF PROFIT & LOSS AND OTHER COMPREHENSIVE INCOME (AMOUNTS IN NOK 1 000-EXCEPT EPS) Q3 2026 Q3 2025 YTD 2026 YTD 2025 PROFIT & LOSS Sales revenue 32 913 28 518 96 569 78 534 Other income 144 1 246 5 473 5 017 Total income 33 057 29 765 102 042 83 551 Cost of materials 1 974 -90 4 261 2 687 Change in inventory 263 770 1 674 448 Personnel expenses 18 805 18 893 55 710 51 328 Operating expeses 8 908 6 661 28 302 25 408 Total operating expenses 29 950 26 233 89 947 79 871 Earnings before interest, taxes, depr. and amort. 3 107 3 532 12 096 3 680 Depreciation and amortization 2 266 2 232 6 837 6 729 Operating profit/loss (-) (EBIT) 841 1 300 5 258 -3 049 Net financial items 894 2 275 3 581 6 568 Profit/loss (-) before tax (EBT) 1 735 3 575 8 840 3 519 Income tax expense -369 -736 -1 638 -507 Net profit/loss (-) 1 366 2 839 7 201 3 012 OTHER COMPREHENSIVE INCOME Net profit/loss (-) 1 366 2 839 7 201 3 012 Other comprehensive income -10 0 -10 0 Total comprehensive income 1 376 2 839 7 211 3 012 Basic EPS (profit for the period) 0.03 0.06 0.14 0.06 Diluted EPS (profit for the period) 0.03 0.06 0.14 0.06
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS 30.09.2026 30.09.2025 31.12.2025 Non-current assets Deferred tax asset 0 3 280 1 526 Research and development 34 021 34 233 34 056 Machinery and equipment 13 556 12 124 11 624 Lease assets 17 437 6 230 5 153 Other long-term receivables 823 974 1 240 Total non-current assets 65 837 56 841 53 599 Current assets Inventories 14 302 16 289 15 976 Account receivables and other assets 111 758 97 545 103 913 Cash and cash equivalents 191 927 182 299 187 780 Total current assets 317 986 296 133 307 669 Total assets 383 823 352 974 361 268 Equity Share capital 51 071 51 071 51 071 Premium paid-in capital 265 770 265 770 265 770 Retained earnings 32 777 13 634 21 483 Total equity 349 618 330 475 338 324 Long-term liabilities Lease liabilities 13 741 4 386 4 155 Total long-term liabilities 13 741 4 386 4 155 Current liabilities Lease liabilities 4 028 1 824 1 187 Account payable 4 014 4 071 4 995 Tax payable 113 0 0 Other current liabilities 12 310 12 256 12 606 Total current liabilities 20 465 18 114 18 789 Total liabilities 34 206 22 499 22 944 Total equity and liabilities 383 823 352 974 361 268
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CONSOLIDATED STATEMENT OF CASH FLOWS 30.9.2026 30.9.2025 31.12.2025 CASH FLOWS FROM OPERATING ACTIVITIES Profit/loss before tax 8 840 3 519 11 999 Adjustment, lease premises -244 -325 -325 Depreciation and amortization 6 837 6 729 9 152 Translation difference 10 0 0 Employees` options, share-based payment expense 4 084 3 216 4 446 Non-cash interest expense 877 199 266 Change in inventory 1 674 -448 -136 Change in accounts receivables and other receivables -5 210 3 889 -1 517 Change in fair value for financial investment -2 617 -2 983 -2 756 Change in accounts payable -1 277 3 363 4 676 Net cash flows from operating activities 12 975 17 158 25 803 CASH FLOWS FROM INVESTMENT ACTIVITIES Investment in machinery and equipment -3 593 -196 -256 Investment in intangible assets -2 616 -2 778 -3 386 Short term investments -18 -17 -1 206 Changes in long term receivables 417 -20 -286 Net cash flows from investment activities -5 809 -3 011 -5 134 CASH FLOWS FROM FINANCING ACTIVITIES Payment on lease liabilities -2 141 -2 602 -3 470 Payment interest on lease liabilities -877 -199 -266 Proceeds from equity 0 0 -107 Net cash flows from financing activities -3 018 -2 801 -3 843 Net change in cash during the period 4 148 11 346 16 827 Cash at the beginning of the period 187 780 170 954 170 954 Cash at the end of the period 191 927 182 300 187 780
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Amounts in NOK 1 000) Share capital Premium paid-in capital Retained Earnings Total equity Equity as of 31.12.2024 51 071 265 770 7 407 324 248 Comprehensive income Q1-Q2, 2025 173 173 Transactions with owners: Employees' share options 2 071 2 071 Equity as of 30.06.2025 51 071 265 770 9 651 326 491 Comprehensive income Q3, 2025 2 839 2 839 Transactions with owners: Employees' share options 1 144 1 144 Equity as of 30.09.2025 51 071 265 770 13 634 330 475 Comprehensive income Q4, 2025 6 726 6 726 Transactions with owners: Loss own shares, share program employees -107 -107 Employees' share options 1 233 1 233 Equity as of 31.12.2025 51 071 265 770 21 483 338 324 Comprehensive income Q1-Q2, 2026 5 835 5 835 Transactions with owners: Employees' share options 2 722 2 722 Translation difference -15 -15 Equity as of 30.06.2026 51 071 265 770 30 025 346 866 Comprehensive income Q3, 2026 1 366 1 366 Transactions with owners: Employees' share options 1 362 1 362 Translation difference 25 25 Equity as of 30.09.2026 51 071 265 770 32 777 349 618 Notes to the interim accounts for 30. September (Q3) Note 1 Basis of preparation of financial statements The assumptions applied in the quarterly financial statements for 2026 that may affect the use of accouting principles, book values of assets and liabilities, revenues and expenses are similar to the assumtions found/used in the financial statement for 2025. These financial statements are the unaudited interim consolidated financial statements (hereafter “the Interim Financial Statements”) of ArcticZymes Technologies ASA and its subsidiaries (hereafter “the Group”) for the period ended 30. September 2026. The Interim Financial Statements are prepared in accordance with the International Accounting Standard 34 (IAS 34) and should be read in conjunction with the Consolidated Financial Statements for the year, ended 31. December 2025. (hereafter “the Annual Financial Statements”), as they provide an update of previously reported information. Note 2 Analysis of operating revenue and -expenses and segment information The Group recognise revenues according to IFRS 15 when it transfers control over a good or service to a customer. ArcticZymes sales revenues are enzymes for use in molecular research, In Vitro Diagnostics and biomanufacturing. Most of the revenues are from quotes or non binding supply agreements where the price has been agreed upon in advance. Other operating income are government tax grants, research grants, adjustment lease premises and other administration income. For further information refer to note 5 in the Annual report for 2025. (Amounts in NOK 1 000) Enzymes Unalloc. Group Enzymes Unalloc. Group Operating sales revenues 32 913 32 913 28 518 28 518 Gross profit 30 676 30 676 27 839 27 839 Other income 144 0 144 1 246 0 1 246 Operating expenses -25 053 -2 660 -27 713 -23 525 -2 028 -25 554 Operating profit/loss (-) (EBITDA) 5 767 -2 660 3 107 5 560 -2 028 3 531 Depreciation and amortization -2 258 -8 -2 266 -2 220 -12 -2 232 Profit/loss (-) before interest and tax (EBIT) 3 509 -2 668 841 3 340 -2 040 1 300 Q3 2025Q3 2026
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(Amounts in NOK 1 000) Enzymes Unalloc. Group Enzymes Unalloc. Group Operating sales revenues 96 569 96 569 78 534 78 534 Gross profit 90 634 90 634 75 399 75 399 Other income 5 473 0 5 473 4 692 325 5 017 Operating expenses -76 214 -7 797 -84 011 -70 799 -5 937 -76 736 Operating profit/loss (-) (EBITDA) 19 893 -7 797 12 096 9 293 -5 612 3 680 Depreciation and amortization -6 813 -24 -6 837 -6 692 -37 -6 729 Profit/loss (-) before interest and tax (EBIT) 13 080 -7 821 5 258 2 600 -5 649 -3 049 Note 3 Geopolitical risk and uncertainty The war in Ukraine has not impacted the company directly or in a material way. The Company has no direct, nor indirect sales to Russia. Trade tariffs in the US has not materially impacted the Company. Note 4 Alternative Performance Measures EBITDA & EBIT EBITDA is widely used by investors when evaluating and comparing businesses, and provides an analysis of the operating results excluding depreciation and amortisation. The non-cash elements depreciation and amortization may vary significantly between companies depending on the value and type of assets. The definition of EBITDA is “Earnings Before Interest, Tax, Depreciation and Amortization” and EBIT is "Earnings Before Interest and Taxes". The reconciliation to the IFRS accounts is as follows: (Amounts in NOK 1 000) 2026 2025 2026 2025 Sales revenues 32 913 28 518 96 569 78 534 Other income 144 1 246 5 473 5 017 Total income 33 057 29 764 102 042 83 551 Cost of materials -1 974 -554 -4 261 -2 687 Change in inventory -263 -126 -1 674 -448 Personnel expenses -18 805 -18 893 -55 710 -51 328 Other operating expenses -8 908 -6 661 -28 302 -25 408 Depreciation and amortization expenses -2 266 -2 232 -6 837 -6 729 Total expenses -32 216 -28 466 -96 784 -86 600 Operating profit/loss (-) 841 1 300 5 258 -3 049 Note 5 Taxes The calculation of deferred tax asset and tax expense as of September 30, 2026 and December 31, 2025 is based on a tax rate of 22%. The deferred tax asset is decreased with NOK 1,7 million due to changes in tax. The deferred tax asset was 0 and wi have tax payabke as of September 30, 2026. For further information refer to note 12 in the Annual report for 2025. (Amounts in NOK 1 000) 30.09.2026 31.12.2025 Change Non-current assets 3 159 2 626 -533 Other temporary differences 268 557 289 Gains and loss account 2 781 3 476 695 Total temporary differences 6 208 6 659 451 Financial instruments 12 077 9 460 Adjustment capitalisation Skattefunn 1 388 1 573 Tax assessment loss carried forward -19 161 -24 628 5 467 Calculation base deferred tax asset 512 -6 936 Change in deferred tax asset, 22% 113 -1 526 -1 639 YTD 2026 YTD 2025 YTDQ3
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Profit before income tax 8 840 11 999 Translation difference 10 Non deductable expenses -2 528 -2 654 Non taxable income -1 305 -1 904 Changes in temporary differences 451 770 Profit before tax loss carried forward 5 467 8 211 Deffered tax loss carried forward -5 467 -8 211 Tax base 0 0 Tax expense -1 639 -2 261 Note 6 Non-current assets Machinery, equipment and permanent fixtures (Amounts in NOK 1 000) 2026 2025 2026 2025 Net book value (opening balance) 14 125 12 650 11 625 13 650 Net investment 36 3 593 196 Depreciation and amortization -567 -562 -1 665 -1 724 Net book value (ending balance) 13 556 12 123 13 556 12 123 Intangible asset (Amounts in NOK 1 000) 2026 2025 2026 2025 Net book value (opening balance) 32 754 34 284 34 056 33 234 Net investment 2 151 543 2 616 2 778 Depreciation and amortization -884 -594 -2 650 -1 776 Net book value (ending balance) 34 021 34 233 34 021 34 233 Lease assets (Amounts in NOK 1 000) 2026 2025 2026 2025 Net book value (opening balance) 18 254 7 306 5 153 8 420 Adjustment and recalc. original contract 466 1 038 Cancellation premises SIVA -5 273 New contract premises SIVA 19 617 Depreciation -818 -1 076 -2 527 -3 229 Net book value (ending balance) 17 437 6 230 17 437 6 230 For further information refer to notes 13,14 and 15 in the Annual report for 2025. Intangible assets are depreciated by the linear method, depreciating the acquisition expense to the residual value over the estimated useful life, which are for each group of assets. Note 7 Lease assets and liabilities The Group had four contracts under IFRS 16 with Siva Science Park for leasing offices and lab facilities. Tha majority of contracts expired in February 2026, but all contracts are now renegotiatied to one contract. ArcticZymes Technologies ASA previous contracts had a sublease arrangement with its subsidiary. The new conrtract is renegotiated in ArcticZymes AS since all the employees reside in this Company. For further information refer to note 15 in the Annual report for 2025. (Amounts in NOK 1 000) Financial position 30.09.2026 30.09.2025 31.12.2025 Lease assets 17 437 6 230 8 420 Total lease assets 17 437 6 230 8 420 Lease liabilites 13 741 4 386 5 153 Total lease liabilities 13 741 4 386 5 153 Short-term leases The Group also lease computers and IT equipment with contract terms from 1 to 3 years. The Group has decided not to recognise leases where the underlying asset has a low value, and thus does not recognise lease obligations and lease assets for any of these assetes. Instead, payments for leases are expensed when they occur. YTDQ3 Q3 YTD Q3 YTD
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Overhead expenses related to premises in contracts are expensed when they occur. (Amounts in NOK 1 000) Summary of other leased assets presented in the consolidated Profit & Loss statement 30.09.2026 30.09.2025 31.12.2025 Lease of IT equipment 177 95 226 Overhead expenses related to premises 596 609 852 Total leased assets inc. in other op.expenses 773 704 1 078 Note 8 Account receivables and other assets (Amounts in NOK 1 000) 30.09.2026 30.09.2025 31.12.2025 Account receivables 20 484 13 344 21 883 Tax grants 6 709 4 951 1 904 VAT 1 582 1 120 2 709 Short term investments 79 577 75 981 76 943 Other assets 3 406 2 150 475 Total account receivable and other assets 111 758 97 545 103 913 For further information refer to note 17 in the Annual report for 2025. Note 9 Related party disclosures Shares owned or controlled by directors and senior management per 30. September 2026: Petter Dragesund, board member 521 739 Frank Mathias, chairman of the board 9 000 Lill Hege Henriksen, Observer (employee) 4 188 Michael Akoh, CEO 8 760 375 000 Børge Sørvoll, CFO 101 528 400 000 Marit Sjo Lorentzen, VP Operations 29 831 175 000 Grethe Ytterstad, VP Quality 8 369 75 000 Paul Blackburn, CCO 105 000 Ruth, Hendus-Altenburger, VP R&D and App. 75 000 Olav Lanes, VP Scientific Strategy and Tech. 8 100 175 000 See note 11 for further details Note 10 Shareholders The 20 largest shareholders as of Shares Ownership Skandinaviska Enskilda Banken AB (Nominee) 9 445 318 18,49 % Skandinaviska Enskilda Banken AB (Nominee) 3 975 083 7,78 % Pro AS 2 448 245 4,79 % Skandinaviska Enskilda Banken AB (Nominee) 2 315 253 4,53 % Avanza Bank AB (Nominee) 2 030 791 3,98 % Belvedere AS 1 780 485 3,49 % Nordnet Bank AB (Nominee) 1 757 893 3,44 % Clearstream Banking S.A. (Nominee) 1 381 300 2,70 % J.P. Morgan SE (Nominee) 1 200 000 2,35 % Norda AS 873 935 1,71 % ISAR AS 862 280 1,69 % Nordnet Livsforsikring AS 825 600 1,62 % Skandinaviska Enskilda Banken AB (Nominee) 825 024 1,62 % Middelboe AS 724 977 1,42 % Riise Invest Nord AS 640 000 1,25 % Naudholmen AS 595 000 1,17 % Kvantia AS 554 713 1,09 % Danske Bank AS (Nominee) 551 632 1,08 % Dragesund Invest AS 521 739 1,02 % Danske Bank AS (Nominee) 500 000 0,98 % 20 largest shareholders aggregated 33 809 268 66,20 % Note 11 Share options Name, position Number of options Number of shares
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Per 30.09.2026, there were 1,380,000 outstanding options. As of 01.01. 42,58 1 380 000 44,71 1 030 000 Exercised during the period 10,19 15 000 Forfeited during the year 35 000 Outstanding at 30. September 1 380 000 980 000 Granted during the year 33,46 400 000 Outstanding at 31. December 1 380 000 Expiry date, exercise price, and outstanding options: 2026 2025 Expiry date 2026, 30 November 89,52 330 000 330 000 2028, 28 February 42,38 50 000 50 000 2028, 30 November 26,94 200 000 200 000 2029, 28 February 38,23 100 000 100 000 2029, 30 November 15,00 300 000 300 000 2029, 30 November 33,46 400 000 Outstanding at 30. September 1 380 000 980 000 Exercisable options at 30. September 330 000 0 Note 12 Other current liabilities (Amounts in NOK 1 000) 30.09.2026 30.09.2025 31.12.2025 Accrued public fees 717 3 206 3 806 Unpaid holiday pay 3 258 2 791 4 485 Other personnel 72 36 98 Bonus 6 440 4 530 2 421 Accruals 1 825 1 654 1 796 Total other current liabilities 12 310 12 218 12 606 For further information refer to note 22 in the Annual report for 2025. Note 13 Events after balance sheet date, 30. September 2026 There are no events of significance to the financial statements for the period from the financial statement date to the date of approval; 04.11.2026 We confirm, to the best of our knowledge, that the financial statement for the period 1. January to the 30. September 2026 have been prepared in accordance with current accounting standards and that the information in the accounts gives a true and fair view of the Company and the Group's assets, liabilities, financial position and results of operation. We also confirm, to the best of our knowledge, that the quarterly report includes a true and fair overview of the Company's and the Group's development, results and position, together with a description of the most important risks and uncertainty factors the Company and the Group are facing. Tromsø, 04.11.2026 The Board of Directors of ArcticZymes Technologies ASA Frank Mathias Hanna P. Lesch Petter Dragesund Chairman Director Director Terese Solstad Michael Akoh Director-employee CEO Number of share options Average exercise price Average exercise price Number of share options 2025 Number of share options 2026 Average exercise price
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www.arcticzymes.com ArcticZymes Technologies ASA Sykehusvegen 23 N-9294 Tromsø, Norway T (47) 7764 8900 E ir@arcticzymes.com I www.arcticzymes.com