Aalborg, Denmark - August 2, 2023 - Asetek today updated its full-year 2023
revenue and operating income expectations due to continued strong demand for
liquid cooling products for gamers and enthusiasts.

Asetek expects to report an increase in Group revenue for 2023 in the range of
40% to 45% compared with 2022, and a projected operating income of $7 to $9
million. The updated expectations primarily reflect increased OEM sales to end
-users, high product release activity in 2023 and sales forecasts for the second
half of the year. The projected results also consider increased costs related to
the higher activity, general inflationary pressures and USD 0.8 million of one
-time charges related to the dual listing of shares on Nasdaq Copenhagen to be
recognized in the second quarter accounts.

The Company will release its second quarter 2023 report on August 9.

The previous full year revenue and operating income expectations communicated on
June 7, were for revenue growth for 2023 in the range of 25% to 35% compared
with 2022, and a projected operating income between $5 and $7 million.

For further information, please contact:
CEO and Founder André S. Eriksen, email: ceo@asetek.com
CFO Peter Dam Madsen, +45 2080 7200, email: investor.relations@asetek.com

About Asetek
Asetek (ASTK), a global leader in mechatronic innovation, is a Danish garage-to
-stock-exchange success story. Founded in 2000, Asetek established its
innovative position as the leading OEM developer and producer of the all-in-one
liquid cooler for all major PC & Enthusiast gaming brands. In 2013, Asetek went
public while expanding into energy-efficient and environmentally friendly
cooling solutions for data centers. In 2021, Asetek introduced its line of
products for next level immersive SimSports gaming experiences. Asetek is
headquartered in Denmark and has operations in China, Taiwan and the United
States.

This information is considered 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. This stock exchange release
was published by Peter Dam Madsen, CFO at Asetek A/S, on August 2, 2023 at
12:55 CEST.

Forward looking statements

This announcement includes forward-looking statements which may include
statements regarding the Asetek's business strategy, financial condition,
profitability, results of operations and market data, as well as other
statements that are not historical facts. Forward-looking statements include
statements concerning our plans, objectives, goals, future events, performance
and/or other information that is not historical information. By their nature,
forward-looking statements are subject to numerous factors, risks and
uncertainties that could cause actual outcomes and results to be materially
different from those projected. Readers are cautioned not to place undue
reliance on these forward-looking statements. Except for any ongoing obligation
to disclose material information as required by the applicable law, the Company
does not have any intention or obligation to publicly update or revise any
forward-looking statements after it distributes this announcement, whether to
reflect any future events or circumstances or otherwise.