CrayoNano AS 3Q 2021 Financial Update

Trondheim, Norway

The unaudited accounts for the third quarter 2021 have been released and are available on the company website. CrayoNano has not yet released its technology to the market and revenue relates to public funding.

The accounts show a net loss of NOK 9.6 MNOK but a positive net cash flow for the quarter of 12.6 MNOK vs a net loss of 5.6 MNOK and a net negative cash flow of 1.1 MNOK for 3Q 2020. This third quarter positive cash flow comes from 8.6 MNOK in proceeds from exercise of warrants and a positive cash flow from project funding.

As part of the planned ramp up, the payroll and other operating costs increased to 13.3 MNOK in 3Q 2021 compared to 6.2 MNOK in 3Q 2020. Major investments include fixed assets and capitalized development cost of 4.6 MNOK vs 3.9 MNOK in 3Q 2020.

The Company has a robust cash position of NOK 115.8 million at the end of Q3 compared to 11.8 MNOK same time last year.

The total equity is NOK 176.6 million with an equity ratio of 87%. In addition to noted warrants, the equity has been increased by conversion of all convertible debt totaling 10.2 MNOK in the period.

Total number of shares fully diluted is 30 619 841 hence earnings per share fully diluted is -NOK 0.31.

Contact:

CEO CrayoNano, Jo Uthus Mail: investor@crayonano.com Phone: +47 72 90 98 60

About CrayoNano

CrayoNano specializes in UVC LED packaged chips for disinfection of water, surface and air based on a breakthrough, patented technology combining Graphene and nanostructures.

The company is headquartered in Trondheim, Norway applying a fab-lite model with a global supply-chain and world-wide footprint to provide our OEM customers new semiconductor devices that enable new industrial and consumer product solutions in health & safety, water purification, life science, white goods, and automotive industries. CrayoNano is registered on OTC in Norway under the ticker: CNANO.