NEXT expands operations to Bangladesh - NOK 95 million order secured through multi-year agreement

Norwegian biometrics company NEXT Biometrics, NEXT, has signed a five-year
agreement with Commlink Infotech LLC (Commlink). The agreement becomes effective
in May 2024 and NEXT's deliveries are scheduled to begin in Q2 2024. The
agreement covers deliveries of NEXT's flagship fingerprint sensor FAP20 for
integration in Commlink's biometric reader, targeting the Bangladesh National ID
program. 

The order is valued at NOK 95 million over 5 years. The biometric reader is used
for biometric authentication within the banking application of Bangladesh (a
part of its national ID program). Commlink will be NEXT's preferred partner in
Bangladesh. 

In line with its go-to-market strategy, NEXT continues to expand operations.
Already a trusted and well-known technology partner on the Indian market, NEXT
now continues to expand its geographical coverage to include Bangladesh. 

"We are incredibly pleased to confirm this agreement with NEXT. Securing our
deliveries of NEXT's flagship fingerprint sensors will enable us to ensure our
long-term operational reliability towards our partners in the ecosystem of
Bangladesh's national ID infrastructure. Combined with their technical support
and our close collaboration, it also allows us to further develop our business
knowing that we are guided by a strong technology partner. I look forward to
exploring this partnership together with NEXT", said Amjad Khan, Managing
Director and CEO at Commlink. 

The order proves NEXT´s expertise in thermal, fingerprints technology and its
ability to provide a state-of-the-art and proven Liveness feature. This is a
function which helps to identify fake authentication attempts and thus prevent
biometric identity spoofing. 

"Commlink is one of the largest players on the market in Bangladesh and I am
extremely pleased we have been awarded this valuable, initial order. It is a
testimonial of the added value and security that our thermal technology offers
as the financial industry's need for safe and reliable authentication keeps
increasing. We look forward to offering our products and services to Bangladesh
and I expect our in-depth industry expertise to benefit us in this new market",
said Ulf Ritsvall, CEO, at NEXT. 

This information in this stock exchange announcement is considered to be inside
information pursuant to the EU Market Abuse Regulation and is published in
accordance with section 5-12 the Norwegian Securities Trading Act.

For more information, please contact: 

Ulf Ritsvall, Chief Executive Officer
[e-mail]

Eirik Underthun, Chief Financial Officer
[e-mail] 

About NEXT
NEXT provides advanced fingerprint sensor technology that delivers uncompromised
security and accuracy for the best possible user experience in the payment and
fintech, government ID, access control and office and notebook markets. The
company's patented NEXT Active Thermal ® principle allows the development of
large, high-quality fingerprint sensors with superior security level. NEXT
Biometrics Group ASA is headquartered in Oslo, with sales, support, and
development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai. 

This stock exchange announcement was published by Eirik Underthun, CFO at NEXT
Biometrics Group ASA, on 6 May 2024, at 13:50 hours (CEST).

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