OSLO, NORWAY - 23 October 2023 - During the third quarter, Zwipe continued to
demonstrate progress and saw strong interest from partners in bringing biometric
payment and access control cards to markets globally.

Significant events during the period

  · Beautiful Card Corporation ("BCC") receives LoA from Mastercard to deploy
Zwipe Pay biometric payment cards, making it the second Zwipe smart card
manufacturer ("SCM") to receive certification from both major payment schemes.
  · Zwipe partners with OLOID to offer biometric access cards globally.
  · Zwipe partners with AWT to provide biometric access cards in Sweden.
  · Zwipe partners with Sintesi to offer biometric cards for physical and
logical access control in Italy.

Significant events after the period

  · Zwipe becomes an EMVCo subscriber to support biometric payment cards
globally.
  · Zwipe and NCS join forces to revolutionize biometric access solutions.

Operational review

The overall adoption of biometric payment cards remains slower than expected,
but Zwipe continues to position itself well for the moment biometric payment
cards become more mainstream. Globally, Zwipe and its partners now have ongoing
dialogues with more than 50 potential issuers of BPCs.

In the first three quarters of 2023, Zwipe expanded its partnerships in APAC
such that we have a presence in 10 countries in the region. During the third
quarter, Zwipe received its first small order from our Japanese SCM for a demo
kit for testing and demonstration to Issuer end customers, with at least one
such intended Issuer being a major global bank. In Europe, neobanks and fintechs
- particularly in the UK and France - continue to show interest in BPCs, and
Zwipe believes that the first launches in Europe will come from these newer
players rather than more traditional banks.  Zwipe and our main European SCM
partner are actively working on more than ten potential BPC projects with UK
fintechs, and also plan a joint development campaign aimed at the French fintech
ecosystem in the fourth quarter. In the Middle East and Africa ("MEA"), Kuwait
International Bank ("KIB") and Middle East Payment Services ("MEPS") were
responsible for the first commercial launches of Zwipe BPCs during the second
quarter.  KIB reports high satisfaction internally and with their high net worth
Visa Infinite clients to whom the initial launch was targeted, and discussions
are ongoing about introducing BPCs to wider segments of their customer base in
fairly short order.

In Zwipe Access, we are making substantial inroads in establishing the market
for biometric access control cards in high-security verticals, with a high
volume of PoCs - some with well-known global companies - now progressing, many
important go-to-market partnerships signed or in progress, and product starter
kits delivered to more than ten well-known, global enterprise partners whose end
customers include data centers, healthcare facilities, airports, government
agencies and critical infrastructure operators. Substantial third quarter
activity points to real demand in the market for biometric access control
solutions, and a real desire from our partners to bring Zwipe Access to their
customers.

In North America, Schneider Electric Co. has completed tests and validation and
confirmed good results. We are now negotiating an OEM agreement to include Zwipe
Access cards in Schneider's product offering, which they intend to market
globally through their extensive network of companies and partners.  Our partner
MC Dean is currently conducting in-depth testing and validation of Zwipe Access
cards on behalf of a Top 3 global cloud services and data centers provider, as
well as other Fortune 100 global customers and government agencies. Berkshire
Hathaway Energy Group (BHE) is currently testing Zwipe's biometric access
control cards for compatibility, with the goal of replacing the legacy install
base and extending the use of Zwipe biometric cards to new sites. Elsewhere in
the USA, the announced proof-of-concept at Richmond International Airport has
been extended to allow more testing and validation under the most extreme
security and environmental conditions. We anticipate that the final report and
recommendations to the aviation industry by the National Safe Skies Alliance
will be published in the fourth quarter.

In Sweden, AWT, a Zwipe partner and major player in the Nordics, has received an
initial small order from a global Top 100 tech company for an initial soft
launch at their headquarter location. This is expected to be the foundation for
further scaling up, with gradual expansion to most of their global workforce by
the end of 2025. Certego, a major system integrator of access security and
monitoring solutions has begun discussions to provide Zwipe's biometric access
control cards to over 100 government agencies.

Commercial priorities for 2023 remain unchanged, with the company focusing on
accelerating commercialization while carefully deploying funds and maximizing
cash runway.

Financial review

Zwipe reported total revenue of 0.3 mNOK during Q3 2023 versus revenue of 0.8
mNOK in Q3 2022.  Cash flow from operations was -27.1 mNOK in Q3 2023 versus
-24.2 mNOK in Q3 2022, equating to an average monthly operating cash flow in Q3
2023 of -9.0 mNOK versus 8.1 mNOK in the same period last year. As a result of
the restructuring announced in June, changes in the organization's operational
cost base are starting to show, and the full impact of these changes is expected
to show from Q4 2023. Cash and cash equivalents stood at 48.3 mNOK at the end of
Q3 2023 compared to 85.8 mNOK at the end of Q3 2022, and 50.5 mNOK at the end of
2022.

Operational update presentation

CEO Robert Puskaric and CFO Danielle Glenn will do a short presentation on the
operational update today, Monday October 23[rd], at 10:00 CET.

Audiocast details

Date: 23 October 2023

Time: 10:00 CET

Format: Audiocast and Q&A

Language: English

Link: https://app.webinar.net/GnOpyeAy2Yr

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This information is subject to the disclosure requirements in the Market Abuse
Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12,
and is information that Zwipe AS is obligated to make public pursuant to the
continuing obligations of companies admitted to trading on Euronext Growth Oslo
(Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth
Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se.
The information was submitted for publication, through the agency of the contact
person set out below, at 07:30 on 23 October 2023.

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About Zwipe

Zwipe believes the inherent uniqueness of every person is the key to a safer
future. We work with great passion across networks of international
organizations, industries and cultures to make convenience safe and secure. We
are pioneering next-generation biometric card and wearables technology for
payment and physical & logical access control and identification solutions. We
promise our customers and partners deep insight and frictionless solutions,
ensuring a seamless user experience with our innovative biometric products and
services. Zwipe is headquartered in Oslo, Norway, with a global presence.

To learn more, visit http://www.zwipe.com.

For more information, please contact:

Danielle Glenn, CFO and Head of IR

ir@zwipe.com