(Oslo, Norway - July 12, 2022) Nordic Semiconductor ASA reported revenue of USD
200.2 million for the second quarter 2022, an increase of 35.6% from the second
quarter last year. Revenue growth continues to be significantly affected by
limited wafer availability. Gross profit was USD 110.8 million, with a gross
margin of 55.4%. EBITDA increased to USD 51.9 million in the second quarter,
corresponding to an EBITDA-margin of 25.9%.  

For the first half year 2022, revenue increased by 31.8% to USD 383.3 million,
with EBITDA increasing to USD 106.7 million from USD 54.1 million in the first
half 2021.

"Although we pass a milestone with quarterly revenue above USD 200 million for
the first time, our delivery capabilities continue to be severely negatively
impacted by the persisting wafer shortage. Demand for our Bluetooth low energy
products is still significantly above current capacity, and with the current
wafer constraints near-term revenue will continue to be determined by supply and
not demand. We are working around the clock to find good solutions for our
customers in this situation," says CEO Svenn Tore Larsen in Nordic
Semiconductor.  

During the first half of the year, the company has continued to work with
customers and distributors to adjust order volumes to better match delivery
capabilities under the current wafer constraints. As a result, the order backlog
was reduced by 9% in the first quarter and by a further 9% to USD 1 395 million
in the second quarter. The order backlog remains higher than the current
delivery capabilities, and further backlog adjustments are required unless the
wafer supply situation is resolved.

Cellular IoT revenues continued to be negatively impacted by unavailability of a
specially adapted filter also in the second quarter. This issue has now been
resolved. The company hence expects significantly higher revenue in the second
half of the year. 

Combined with the current wafer allocations this allows the company to guide for
revenue of USD 190-210 million in the third quarter 2022. The company expects
higher wafer allocation in the fourth quarter of the year, and overall expects
to generate revenue in 2022 that keeps the company on track for its 2023 revenue
target of USD 1 billion. Nordic sees continued strong growth opportunities well
beyond 2023 and maintains its ambition to generate annual revenue growth of at
least 25% in 2023-26.

Nordic reported continued solid gross margins in the second quarter, supported
by a favorable product and customer mix in a generally tight market. The company
expects gross margins above 54% also in the third quarter. Looking further
ahead, the company maintains its medium-term target to generate gross margins
above 50%, allowing for future changes in customer mix and higher revenue from
Cellular IoT.

Practical arrangements

The management team will host a webcast presenting the second quarter results
today at 08:00 CEST. The presentation will be held in English. A live webcast of
the presentation can be found at www.nordicsemi.com/IR, and a recorded version
of the presentation will also be available after the event.

For further information, please contact:
Pål Elstad, CFO 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.