(Oslo, Norway - October 21, 2021) Nordic Semiconductor ASA reported revenue of
USD 148.5 million for the third quarter 2021, an increase of 24% from the same
quarter last year. Revenue growth continued to be capped by limited wafer
availability, and the order backlog increased to USD 1,316 million at the end of
September 2021.

Bluetooth revenue increased by 28% to USD 123.3 million, whereas Proprietary
revenue declined 5% to USD 18.1 million and Cellular IoT revenue more than
tripled to USD 5.3 million. Gross margin was 53.1% compared to 54.1% in the
third quarter 2020, and EBITDA of USD 28.3 million compared to USD 28.6 million
in the same quarter last year. The lower EBITDA margin reflects continued growth
investments in a period where supply chain constraints temporarily limit revenue
growth. 

For the first nine months of 2021, revenue increased by 58% to USD 439 million,
with EBITDA increasing to USD 82.4 million from USD 49.9 million. 

"We continue to see strong interest in our products and solutions although our
current delivery capabilities are limited by the supply constraints in the
semiconductor industry. We have established a very strong customer base across
both tier-1 customers and the broad market and continue to invest to capture the
large growth opportunities we see in the market", says CEO Svenn-Tore Larsen in
Nordic Semiconductor.

Nordic will adjust prices in the fourth quarter to reflect increasing wafer and
outsourced assembly and test (OSAT) prices and cost inflation through the value
chain. In combination with the indicated allocation of wafers, this allows the
company to guide for a revenue level of USD 150-170 million for the fourth
quarter of the year. Gross margin is expected at 51%-53% in the fourth quarter. 

"Going into the final quarter of the year we expect a revenue level that
corresponds with full year revenue of around USD 600 million. We are now
confident that we can grow this to USD 1 billion already by 2023", says Larsen. 

Capital Markets Day - forward looking statements 

Nordic Semiconductor ASA later today hosts a Capital Markets Day to present the
company strategy. The presentations will contain certain forward-looking
statements which can be summarized as follows:

- Nordic expects to reach its USD 1 billion revenue target in 2023, one year
earlier than previously communicated. Given the company's order backlog, revenue
growth is dependent on supply rather than demand in this timeframe. Committed
wafer deliveries secure the 2022-2023 growth plan. 

- Nordic expects continued revenue growth beyond this period and holds an
ambition to more than double revenue from 2023-2026. This growth ambition is
based on continued strong growth for the company's short-range business,
accelerating traction for its cellular IoT business, early traction for Wi-Fi
products, and gradually increasing revenue contribution from power management
products and other adjacent technologies and products.

- Nordic has consistently reported gross margins above 50% over the past years
and believes this will continue also going forward.

- Nordic has previously presented a long-term EBITDA-margin target of 20%. Given
the growth outlook the company believes scale benefits and increasing
operational leverage will enable the company to grow EBITDA-margin towards 25%
by 2026.  

- Nordic remains committed to innovation and will continue to invest in R&D with
the aim to remain in the forefront of a technology development holding
significant growth opportunities over the next decades. 	

-  Nordic assesses its cash position to be adequate given the expected level of
R&D and capex investments and believes a strong balance sheet required to ensure
flexibility and resilience. Cash generation is however expected to increase over
the coming years and will allow for the evaluation of cash return to
shareholders in 2023. 

Practical arrangements

The management team will host a webcast presenting the third 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.

Nordic's Capital Markets Day at Oslo Konserthus starts at 15:30 CEST. CEO
Svenn-Tore Larsen will be joined on stage by EVP Sales & Marketing Geir
Langeland, CTO Svein-Egil Nielsen, EVP Product Management Kjetil Holstad, EVP
People & Communication Katarina Finneng and CFO Pål Elstad, and the
presentations are expected to be concluded at around 18:00 CEST. 

The presentations will be held in English and will be made available at 15:00
CEST. A live webcast of the presentations 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.