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OptiCept - Shareholder letter September 2022

Updated: Sep 18, 2022

As the summer of 2022 draws to a close, we can look back on intense months that have given us the highest order intake in OptiCept's history. We are well on our way to establishing a new industry standard with oliveCEPT®, while developing new applications for markets with even greater potential. Within OptiBoost®, intensive sales work is ongoing both in Sweden and internationally, we continue to work with our established relationships and have discussions with more new potential customers.

Now we have the next generation oliveCEPT® through BALDER. BALDER meets customer needs at higher capacity and this, combined with the fact that we have created a better understanding of the olive market, means that we have now had record high order intake during the summer, in line with total order intake over the past 3 years. We see fantastic potential with the oliveCEPT® agreements we signed this year. We have signed agreements with major customers such as Jaén COOP, Uniò, DePrado and Acesur. Through these alone, we open up a potential installed base of close to 400 machines. Should we succeed in covering 50% of our newly subscribed customers' total capacity, which is not unreasonable over a number of years, this means sales equivalent to SEK 750 million, on these alone. So we are on a fantastically exciting journey with our CEPT technology that can fundamentally streamline and make the food industry more sustainable.

Our organization has been continuously strengthened and the level of competence is very high. It has contributed to the improvement, stabilisation and optimisation of oliveCEPT®, among others.

During the summer, we have also rolled out wineCEPT® on the market, the collaboration with our partner HTS has started and our first treatments are in full swing in Italy. Wine is by far the largest market we operate in, here is a fantastic opportunity for us to grow. wineCEPT® can be used both to extract more and better juice for grape production. wineCEPT+ ® extends both the shelf life and minimizes the need for additives. The combination of this opens the door to better wines and more organic wines. The total estimated market value amounts to € 317 billion and, in addition, is expected to grow to € 425 billion by 2028. During the autumn, we plan to continue working with HTS and the progressive vineyards we now collaborate with.

oatCEPT® has positive evaluations and analyses from previous periods. We are now awaiting the final results after long-term storage of the product we manufactured last summer, before going into the commercial stage. We know that the market has high expectations of what oatCEPT® can do, something we also have. The positive effects we see are many, we produce an oat drink that foams well, as well as being dense and creamy in texture, while reducing sedimentation and improving nutrient content. We enable this without the addition of foamability enzymes that are currently needed in manufacturing, which improves profitability for producers and meets market demands for a "clean-label" product.

We have also had time to start up juiceCEPT+ ® hos the Italian research institute CREA for extended shelf life of juices. The focus is on improving the shelf life of delicate juices. Above all, these fruits are harvested in September and we look forward to the results in the autumn.

Covid-19 restrictions are finally easing in China, which has enabled continued testing at ZhongWu and that we have been able to initiate discussions with additional large players in China in the juice segment. Our hope is also to resume testing with Coca Cola regarding cold brewed green tea in 2022's final months which have also been delayed due to the lockdown.

We are very pleased with how OptiBoost for cut flowers is used at Dagab and APH. We have now started treating mixed bouquets and have received a lot of positive feedback. The installation of OptiBoost in South America is now complete. Shortly, the evaluation and treatment of roses at EQR in Ecuador will begin. This is an important milestone for us and an important first step into the South American and thus North American market. The evaluation of OptiBoost at Flamingo International Group in the UK is coming to an end, the same applies to Porta Nova in the Netherlands, we look forward to the results and the continued discussions.

At the same time, discussions are ongoing with players in Sweden and internationally, OptiBoost will fundamentally change the cut flower industry, I am completely convinced of that. Implementing new technologies in conservative industries takes time, but the need is great, both from an environmental, quality and profitability perspective. Regarding OptiBoost for cuttings, we have very exciting discussions with world-leading players in the forest industry. Here we have good hopes for an impending breakthrough. The interest is great as our product shows clear benefits from both an economic and sustainability perspective.

In the long term, OptiCept has very good conditions, we are a disruptive force in several areas and the potential is very exciting. Our focus remains on doing the right things at the right time and the right order – this takes us step by step forward.

For those who want a little more in-depth facts about OptiCept and the potential of the patented technology we work with, I would like to finally take the opportunity to tell you about the media we have been in, or mentioned in in recent weeks. These elements provide a very good overview of the opportunities that lie ahead for the company.


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