(Oslo, Norway - February 7, 2023) Nordic Semiconductor ASA reported revenue of
USD 191 million for the fourth quarter 2022, an increase of 12% from the fourth
quarter last year. Revenue growth continues to be capped by limited wafer
availability. Gross profit was stable at USD 101 million, with a gross margin of
53%. EBITDA was USD 39 million in the fourth quarter, corresponding to an
EBITDA-margin of 20%.  

Revenue for the full year 2022 increased by 27% to USD 777 million with a gross
margin of 56%. Full year EBITDA was USD 206 million and the EBITDA-margin 26%.  

"We report strong revenue growth also for 2022 and have seen average annual
growth of close to 40% for the past three years. Our largest customers maintain
a high demand for our feature rich Bluetooth low energy products, although
production capacity will remain curbed by the persisting wafer shortage also in
2023," says CEO Svenn-Tore Larsen in Nordic Semiconductor.

During the second half of 2022 the company has seen lower demand for its
proprietary products and first-generation Bluetooth low energy products, a
temporary slowdown in cellular IoT, and generally weak demand in China. As a
result, the company expects a revenue decline and guides for a revenue range of
USD 140-160 million in the first quarter 2023. 

Nordic sees higher wafer allocations later in the year. This will increase
delivery capacity. The first quarter is hence expected to be a low-point in
terms of revenue.

Given the slow start to the year, Nordic no longer expect to meet its USD 1
billion revenue ambition already in 2023, although the company expects to reach
an annual run-rate of USD 1 billion in the second half of the year. 

Nordic maintains a positive longer-term market outlook, and the company's strong
financial position enables the company to continue investing to build a
leadership position in a market with significant growth potential. However,
these growth ambitions lean on assumptions of economic growth and increasing
product demand from both consumers and industrial customers. The company will
adapt its investment plans as deemed necessary to reflect any persistent major
changes in economic conditions and/or customer behavior. 

Gross margin was 53% in the fourth quarter and 56% for the full year 2022. The
company expects a gross margin level above 52% for the first quarter 2023. The
company reiterates its long-term ambition to maintain a gross margin level above
50%.

Practical arrangements

The management team will host a webcast presenting the fourth quarter results
today at 08:00 CET. The presentation will be held in English. For Q&A there will
be a call-in function. A live webcast of the presentation and call-in
instructions can be found at https://www.nordicsemi.com/Investor-Relations , and
a recorded version of the presentation will also be available after the event.  

For further information, please contact:
Pål Elstad, CFO / EVP Finance - Nordic Semiconductor ASA
Phone: +47 991 66 293
Ståle Ytterdal, SVP IR - Nordic Semiconductor ASA
Phone: +47 930 37 430

About Nordic Semiconductor: 

Nordic Semiconductor has been a pioneer in ultra- low power wireless solutions,
from proprietary technologies for PC accessories to today's Bluetooth low energy
and multiprotocol products and long-range cellular IoT solutions. 

Nordic Semiconductor is the clear market leader in the ultra-low power wireless
segment, serving a growing market in consumer electronics, wearables, building
and retail, healthcare and an increasing number of other verticals and
applications. Nordic Semiconductor (NOD) is a public company listed on the Oslo
stock exchange in Norway. 

For more information go to www.nordicsemi.com 
This information is subject to the disclosure requirements according to §5-12 in
the Norwegian Securities Trading Act.