Oslo, 18 May 2026: The NEXT Biometrics Group ASA ("NEXT" or the "Company") was
through a fundamental reset in 2025 due to a too optimistic market guidance,
critically elevated accounts receivables, and a joint venture arrangement with
the China external sales and marketing partner that needed to be investigated in
an independent external investigation due to potential irregularities. The
Company adopted a new strategy in December 2025, and focused on monetising
existing inventory and sales, and a cost reduction program was initiated. In a
strategic context, the Company increased focus on advancing the
Anywhere-on-Display platform. 

NEXT is still experiencing a significantly lower than expected order intake and
cash-inflow, resulting in a shortened liquidity runway. The Company's revenue
forecast from its operations is based on a comprehensive review of each
underlying customer case. NEXT has three potential sources for its revenues from
operations: signed frame agreements and design wins that may lead to future
purchase orders, large tenders that can be won, and revenues from one-time
sales. Frame agreements and design wins do not represent committed purchase
volumes unless binding purchase orders or purchase commitments have been entered
into. The revenues from these three sources are to a large extent dependent on
governmental budgets and timing of public orders and tenders, which makes both
the amount and the timing of revenues difficult to predict. 

The Company's interim financial report for the three-month period ended 31 March
2026 (Q1) will be published on 26 May 2026. The Group expects to report
operating revenues for Q1 2026 of NOK 1.8 million, operating expenses of NOK 21
million and EBITDA of negative NOK 30 million. Non-recurring operating costs are
expected to be approximately NOK 4 million for the quarter, non-cash share-based
remuneration cost is expected to be NOK 1 million and non-recurring inventory
write-downs are expected to be NOK 10 million. Hence, adjusted Q1 2026 EBITDA is
expected to be approximately negative NOK 15 million. Cash as of 31 March 2026
was NOK 6.7 million and debt was NOK 21.5 million, of which NOK 9 million is the
shareholder loan that was provided to the Company under a loan agreement dated
20 January 2026 and NOK 12.5 million is the first tranche of the bridge loan
announced on 18 March 2026.

On 18 March 2026, the Company also announced the terms of the 82% underwritten
rights issue to raise gross proceeds of up to NOK 50 million (the "Rights
Issue"). The runway financed by the net proceeds from the Rights Issue is now
expected to last until mid Q3 2026 if only the underwritten part of the Rights
Issue (NOK 41 million) is subscribed for, and until early Q4 2026 if the maximum
amount of the Rights Issue (NOK 50 million) is subscribed for.

The Company have reviewed strategic options for the fingerprint sensor business.
The lowered sales have necessitated additional cost reductions to significantly
lower fingerprint sensor business operating expenses in the second half of 2026.
As a part of the strategic review process, the Company explores a potential
divestment, partnerships and/or a licensing agreements in respect of all or
parts of its fingerprint sensor business segment. The Company aims to be able to
focus on and allocate further resources to the Anywhere-on-display business
segment, which the Company considers to have greater revenue potential. Also,
financing from partners, R&D spending, and business models for the
commercialization phase will be reviewed further. 

The Anywhere-on-display business is a development project without short-term
revenues. As a part of the strategic review, it will also be considered whether
the Company should apply for a delisting from Euronext Oslo Børs.

The Company's shareholders are encouraged to participate in the annual general
meeting to be held tomorrow (19 May) at 10:00 at the Company's offices,
Stortorvet 7, 0155 Oslo or digitally via Microsoft Teams. Please send an e-mail
to events@nextbiometrics.com to request the Teams meeting invitation. 

NEXT Investor contact: 
Ulf Ritsvall (CEO), ulf.ritsvall@nextbiometrics.com 
Eirik Underthun (CFO), eirik.underthun@nextbiometrics.com 

About NEXT Biometrics 

NEXT Biometrics is a pioneer of high-security biometric authentication, enabling
users to live simpler, safer lives. NEXT Biometrics was founded on the belief
that strong authentication and identification can be secure, seamless and cost
effective for governments and businesses with Active Thermal® technology. More
than 25 years later, NEXT has retained its Norwegian heritage and grown to serve
customers globally. 

Today, our solutions are used by billions of users each year across 10+ national
ID and local programs, 150,000+ POS terminals, 25+ laptop and tablet models from
tier-1 OEMs, and physical and logical access control implementations. Through
state-of-the-art technology, deep industry expertise and close collaboration
with partners for seamless integration, Active Thermal® biometrics can make life
simpler and safer for everyone.

For more information, visit NEXT Biometrics, read our blog and follow us on
LinkedIn. NEXT Biometrics is listed on Euronext (NEXT.OL).
rmation\, visit NEXT Biometrics\, read our blog and follow us on\
LinkedIn. NEXT Biometrics is listed on Euronext (NEXT.OL).\