NEXT Biometrics (Oslo Bors: NEXT) continues its expansion on the rapidly
evolving biometrics market in India. Today, NEXT has further solidified its
foothold by adding a new design-win and signing another multi-year, non-binding
commercial agreement (MoU) with a prominent new Indian OEM customer. 

The customer has exhibited its confidence in NEXT's technology by developing a
new product and initiating its engagement that includes a substantial order of
FAP20 sensors. Notably, the customer has adopted an innovative strategy for
addressing the L0 to L1 transition, by developing Bluetooth-enabled L1 devices,
which are expected to enjoy a higher adoption rate in its target markets. By
signing the MoU, the customer has indicated that it will place its first
purchase order of NEXT's flagship sensor FAP20 amounting to approximately NOK 7
million with deliveries targeted to start by the end of the second quarter of
2024. 

As previously announced, the Indian government is upgrading India's biometric
and digital ID services program, Aadhaar, to the next-generation security
standard. Thus, as per June 2024, all devices to be used within the ID program
must now meet new, stricter security requirements and be certified according to
Aadhaar's L1 certification level.

Recognizing India's growing demand for biometric solutions and the impending L0
phaseout deadline in June 2024, NEXT is proactively addressing the market needs.
To cater to these emerging use cases and assist customers in transitioning from
L0 to a more secure L1 ecosystem, the company is continuously strengthening its
local partnerships.

"This partnership marks a significant milestone for NEXT's expansion efforts. In
line with our strategy, we continue to successfully accelerate our growth pace
in India and strengthen our position as a go-to, trusted technology partner,"
comments Ulf Ritsvall, CEO of NEXT. 

Also emphasizing NEXT's strong commitment to reaching its financial targets, Ulf
Ritsvall adds:

"I believe this expansive partnership demonstrates our capacity to establish a
consistent stream of revenue in the coming period, as our new customer
progresses with the certification of its product. We look forward to supporting
our new Indian OEM customer and enter this partnership."

For more information, please contact: 
Ulf Ritsvall, CEO, Next Biometrics
ulf.ritsvall@nextbiometrics.com 

Eirik Underthun, CFO, NEXT Biometrics
eirik.underthun@nextbiometrics.com 

About Next Biometrics 
NEXT provides advanced fingerprint sensor technology that delivers uncompromised
security and accuracy for the best possible user experience in the smart card,
government ID, access control and notebook markets. The company's patented NEXT
Active ThermalTM principle allows the development of large, high quality
fingerprint sensors. NEXT Biometrics Group ASA is headquartered in Oslo, with
sales, support and development operations in Seattle, Taipei, Bengaluru and
Shanghai.