Zwipe presentation at Redeye Growth Day 2020

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Zwipe presentation at Redeye Growth Day 2020

PRESENTATION IN SWEDISH

Zwipe CEO André Løvestam presented Zwipe at the RedEye Growth Day 2020 event on 2 June 2020. Please see the full presentation at the link here.

https://www.redeye.se/video/event-presentation/787568/zwipe-ceo-andrelovestam-presents-at-growth-day-2020

Zwipe appoints new Executive Vice President Strategy & Channels

OSLO, NORWAY– 02 June 2020 – Zwipe AS announces that Bishwajit Choudhary has accepted the position of Executive Vice President Strategy & Channels at Zwipe, commencing 2 June 2020. He will lead Zwipe’s engagement efforts towards banks, global and domestic card schemes, selected retailers and other important payments ecosystem stakeholders.

Based in Oslo, Mr. Choudhary brings two decades of experience from Nets where he led many new business initiatives within Digital-ID, electronic signatures and mobile authentication for international clients. As the Group SVP (Strategy) he led Nets' market intelligence and strategy execution and played a key role in many commercial initiatives, notably open-banking data analytics, customer advisory, strategic alliances and fintech partnerships. Prior to joining Zwipe, he was Chief Commercial Officer at UserTribe, a global leader in delivering deep customer insights in 100+ countries based on live experience data.

“With increasing activity in payment cards and wearables in general, and biometrics in particular, and with Zwipe poised to take a technology and cost leadership position in this high potential market, timing is right for Zwipe to complement our growing engagements with our direct customers, the smart card manufacturers, by embarking on a “pull strategy”. This means that we will step up our engagements with banks and neo-banks, as well as new players in card issuance, such as retailers and tech companies. With deep insights in the payments industry, Bishwajit will add a valuable breadth in our payments expertise and lead our strategy and channel development,” said André Løvestam, CEO of Zwipe.

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Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se , +46 (0) 528 00 399

For more information contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com

Financial Calendar for Zwipe AS

OSLO, NORWAY– 19 May 2020

Financial Calendar 2020 – 2021

Interim Report January-June 2020 August 27, 2020

Financial Year 2020 Annual Report February 25, 2021

Annual General Meeting May 19, 2021

Interim Report January-June 2021 August 26, 2021

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Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se , +46 (0) 528 00 399

For more information contact: André Løvestam, CEO, +47 991 66 135 ir@zwipe.com

Zwipe publishes minutes from Annual General Meeting

OSLO, NORWAY– 14 May 2020 – The Annual General Meeting in Zwipe AS (Company) was held today. All proposed resolutions were approved unanimously in accordance with the call for the meeting. The minutes of Annual General Meeting can be found at the link below.

Minutes of the Annual General Meeting 2020

The complete proposal, which was approved by the Annual General Meeting, is available on www.zwipe.com for further reference. The attendants of the AGM represented 11,2% of the votes in the company.

The following matters were reviewed and confirmed:

Approval of the annual report and financial statements for 2019:

The board’s proposal for the annual report and the financial statements for 2019 for the Company and the group were unanimously approved.

Election of members to the Board of Directors:

The following persons were unanimously elected to comprise the new Board of the Directors:

- Jörgen Lantto, Chairman of the board

- Dorian Barak

- Johan Biehl

- Dennis Jones

- Diderik Schonheyder

- Pål Eivind Vegard

Remuneration to the members of the Board of Directors and the members of the Nomination Committee

Remuneration to the Board for the period from the AGM in 2020 until the AGM in 2021 were unanimously approved as follows:

Chairman of the Board: NOK 260.000,-

Members of the Board: NOK 130.000,-

As remuneration, it was unanimously approved that members of the Nomination committee each receive a total of NOK 40.000 for each year in the term they have served (two years). Jörgen Lantto is covered by the board member remuneration and will hence not receive remuneration for his seat on the nomination committee.

Board authorizations and instructions to the Board regarding use of the authorization to issue shares to increase the Company's equity

The Board proposed that two new authorizations for the Board on capital increases are issued, (i) to fulfil the Company's incentive program and (ii) to cater for strengthening of the Company's equity.

i. Authorization for capital increase to fulfill the Company's incentive program

The Annual General Meeting resolved that the Board is hereby granted authorization to increase the share capital of Zwipe AS (the Company), on one or several occasions, with up to NOK 216 946.70 (2,169,647new shares), equivalent to 8.5% of the registered share capital at the time of this resolution. The authorization shall remain in force until the end of the annual general meeting 2021, however not beyond 30 June 2021. The pre-emptive right of the shareholders to subscribe may be set aside.

ii. Authorization for capital increase to strengthen the Company's equity (extract, please see the attachment to the notice for the complete proposal)

The Annual General Meeting resolved that the General Meeting granted a new authorization to the Board to issue shares corresponding to up to 25% of the share capital, and the new authorization shall be restricted to issue of shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time.

The authorization may be used to issue shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time. The authorization shall remain in force until the end of the annual general meeting 2021, however not beyond 30 June 2021. The pre-emptive right of the shareholders to subscribe may be set aside.

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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Oslo Børs Merkur Market and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0)8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, on May 14, 2020 at 23:15 CET

Zwipe Q1 2020 operational update

OSLO, NORWAY – 7 MAY 2020 –

Q1 2020 Highlights

Zwipe has significantly expanded its efforts towards smart card manufacturers in the last quarter. Zwipe is now in direct dialogue or conducting projects with over 40 of the world’s top 50 smart card manufacturers (SCMs), out of which 8 are among world’s top 10. This is an increase from 29 during March alone

Zwipe announced that Masria Digital Payments (MDP), one of the largest smart card manufacturers in the Middle East and Africa, has selected Zwipe to support its drive to roll out biometric payment solutions

Zwipe listed on Nasdaq First North Growth Market in Sweden under the ticker symbol “ZWIPE”, in parallel with its listing on Oslo Børs Merkur Market

Zwipe quickly adapted to the ongoing global COVID-19 pandemic, implementing remote work and travel bans and expanding the use of digital platforms to strengthen ongoing technical and commercial activities. The pandemic has so far not caused any significant disruptions or delays to Zwipe’s current operational, strategic or financial objectives. On the other hand, it has highlighted the hygienic benefits of never-touch biometric payment cards

The streamlining program announced and implemented in November 2019 is on track and monthly spending is declining during the quarter in accordance with the ambitions set in the program

Average monthly operational cash outflow of MNOK 5.9 in Q1 2020 versus MNOK 8.8 in Q4 2019 and MNOK 5.3 in Q1 2019. Additionally, for the quarter, a second of four co-investment installments with Idemia of approx. MNOK 9.7 was paid out

Developments after the period

Zwipe, IDEMIA and IDEX announced the achievement of a key technical milestone towards its next generation card platform Zwipe Pay ONE, emphasizing that the project is on track to meet time and unit cost targets

Zwipe announced the signing of an agreement that will see Zwipe combining IDEX Biometrics sensor products with the Zwipe Pay ONE platform to enable a complete system solution for biometric payment cards

Zwipe announced that Toppan Forms, the strongest local SCM in Hong Kong and Macau, partnered with Zwipe to prepare to offer biometric payment cards

Zwipe announced that Asia Credit Card, a specialist SCM based in Hong Kong, partnered with Zwipe to offer biometric payment products and services

Zwipe’s grant application to SkatteFUNN, a Norwegian government run R&D tax incentive scheme, was approved with an amount of MNOK 5, as in recent years. The payment is expected during Q4 2020.

CEO Comment

André Løvestam, Chief Executive Officer at Zwipe, said:

“Q1 2020 has been an intense quarter for Zwipe.

We started the year by listing on the Nasdaq First North Growth Market on January 28th, and have seen considerable interest in Zwipe across the Swedish investment community.

This quarter has also been marked by unprecedented global uncertainty tied to the ongoing Covid-19 pandemic. With the aim to protect our employees from the ongoing COVID-19 pandemic, Zwipe quickly adapted with various protective measures such as remote work and travel bans. We have been able to continue operating remotely, with little to no impact being seen across our operations. Our commercial team has ramped up activity and been able to engage more frequently and openly as a result of the entire industry transitioning to videoconferencing as opposed to travel-intensive face-to-face meetings.

We observe an extensive focus on and interest in the improved hygiene and safety of biometric payment solutions; the awareness of biometric advantages is significantly higher than pre-Corona. This elevated focus on safety has significantly increased the growth of contactless transactions, and transaction caps have been raised all over the world[1]. Hygiene may become an accelerator and game-changer for biometric payments. A biometric payment card effectively eliminates the need to ever touch the payment terminal keypad – regular cards require PIN above the transaction limit, after a set number of transactions, and when the cumulative value of transactions has reached its limit.

We are seeing growing momentum across the payment ecosystem with increasing investment in supporting biometric payment card deployment. Zwipe is now working closely with partners across the value chain in developing a highly competitive offering in terms of energy efficiency and biometric performance at industry-leading manufacturing costs; Zwipe Pay ONE. This next generation contactless technology will achieve a radically lower total manufacturing cost per card, which we believe will be key to accelerate the volume market take-off. Therefore, we are proud and satisfied that the Zwipe Pay ONE project and the collaboration with Idemia and Idex is on track, as announced in April. The first samples of the new single chip have been manufactured and successfully powered-on. This development is very positive as our customers wish to get access to Zwipe Pay ONE as early as possible to be able to serve card issuers with the market’s most cost-effective biometric payment cards.

Recent certification industry announcements bring further confidence to the trajectory of biometric payment card rollout. Certification of payment products is a rigorous and capital-intensive process for card manufacturers and a strong signal of intent to capitalize on the next natural step for payment cards, following the introduction of dual-interface payment cards in 2007.

I am also satisfied with the very good progress in the wearable project announced with G+D in September, as this project is also on track.

Looking ahead, we are committed to supporting our customers to elevate their product portfolios by making it easy to integrate biometric payment solutions. Key to this work is technical deliverables and sharing the expertise we have built from having the most widely piloted solution to position, educate and market biometric payment cards to banks and issuers. We are doing everything in our power to build and maintain strong relationships with our industry-leading partners that will create sustainable long-term commercial opportunities for themselves and Zwipe going forward.”

Financial Update

The cost program announced in November 2019 is on track, yielding lower spending in Q1 than in previous quarters. Full effect is planned from Q2 and onwards

The weakening of the Norwegian Krone has resulted in somewhat higher NOK spending, as Zwipe has most of its costs in foreign currency. However, mitigating measures have been executed to ensure low effect on operations

· During Q1 2020 Zwipe had revenue of MNOK 0.4 from NRE (non-recurring engineering) invoiced for specific development work.

· Average monthly operational cash outflow during Q1 2020 was MNOK 5.9 (5.3), and in line with expectations for the period, compared to MNOK 8.8 in Q4 2019.

· The closing balance at end of Q1 2020 was MNOK 54.6 (85.9 by Q1 2019). The development in cash balance since Q4 2019, which was MNOK 23,3, is a result of a capital raise of net MNOK 58.3, a joint technology investment with Idemia of MNOK -9.7 and the operational cash flow of MNOK -17.7 for the quarter.

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This is information that Zwipe AS is obliged to make public pursuant to the continuing obligations of companies admitted to trading on Oslo Børs Merkur Market, Nasdaq First North Growth Market and the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below

[1] Examples:

https://www.thelocal.de/20200321/cash-loving-germany-switches-to-contact-less-card-payment-due-to-coronavirus-fears

https://www.dailysabah.com/business/economy/more-turkish-consumers-go-cashless-as-they-opt-for-card-payments-amidcoronavirusoutbreak

Zwipe partners with Asia Credit Card to roll out biometric payment card products and services

OSLO, NORWAY – 28 APRIL 2020 Biometric fintech company Zwipe is pleased to announce that Asia Credit Card Production Ltd. (ACC), a specialist smart card manufacturer based in Hong Kong, has chosen to partner with Zwipe in order to offer and roll out a range of biometric payment specific products and services including cards, wearables, enrolment and customer onboarding solutions.

ACC has an extensive smart card product portfolio with a large client base in a wide range of industries worldwide. ACC has begun integrating Zwipe’s biometric inlay platform into their smart card production facility in order to prepare for the launch of Zwipe Pay ONE when it becomes available later this year.

“We strongly believe that biometric payment cards are the future and there is a strong market for payment cards in the fast-moving Asia Pacific region even in the face of surging smartphone use. Working now to integrate Zwipe’s technology, we are confident that we will have a truly disruptive offering that will enable us to significantly grow our banking customer base in the region and beyond,” said Gary Li, Managing Director of Asia Credit Card Production Ltd.

As an essential manufacturer in the heart of APAC, ACC is now working at full capacity. On the back of their commitment to issuing biometric payment cards this year, the company is in the process of completing the application process for full card scheme certification to expand its portfolio of offerings to leading issuers across the region.

“We continue to build our global portfolio of customer relationships, which will be instrumental in the roll-out of future products. The partnership with ACC will further broaden our access to the Asian markets,” said André Løvestam, CEO of Zwipe.

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About Asia Credit Card Production LTD

ACC is a leading professional RFID card and smart card manufacturer. Headquartered in Hong Kong and production plant in Shenzhen, China. With over 20 years of experience in card industry, ACC is offering top quality products and services compliant to industry standards and customer requirements. We continuously strengthen partnerships with our strategic alliances and industry leaders to fulfill our commitment to the industry.

For more information contact: James Duran, +852 2389 3393 james@asia-cc.com.hk