GomSpace (provider of nanosatellites) announces its quarterly results for the second quarter 2016.

Press release

Stockholm

22 August 2016

GomSpace (provider of nanosatellites) announces its quarterly results for the
second quarter 2016.

Stockholm, August 22, 2016. GS Sweden AB announces its interim report for the
second quarter of 2016. The report is available on the company’s homepage
(www.gomspace.com). The following is taken from the quarterly report:

Second quarter summary

1 April - 30 June 2016 (2015)

  · o    Successful trail of airline tracking in collaboration with
Flightradar24 and Airbus Defence.
  · o    Investment collaboration with IFU on a major satellite project in
Africa delivering a constellation of nano-satellites in order to establish a
data service company.
  · o    Agreement signed with DALO and DTU on delivering a nano-satellite based
surveillance demonstration for the Arctic.
  · o    Net revenues increased to SEK 13.9 million (8.0).
  · o    Gross margin increased to 66% (38%).
  · o    Profit/loss for the period increased to SEK 0.97 million (negative
2.24).
  · o    Earnings per share were SEK 0.09 (negative 3.2).

1 January - 30 June 2016 (2015)

  · o    Net revenues increased to SEK 24.9 million (13.1).
  · o    Gross margin increased to 65% (28%).
  · o    Profit/loss for the period increased to SEK 1.45 million (negative
5.84).
  · o    Earnings per share were SEK 0.25 (negative 8.35).

“The result of the first half year of 2016 progressed satisfactory and within
our expectations. Our investment program is expected to cause increased expenses
and negative profit over the next years, however the underlying profitability
seen in the obtained gross margin for GomSpace will stay strong”, CEO Niels Buus
commented.

For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: nbu@gomspace.com

Miscellaneous

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|This information is information that GomSpace is obliged to make public      |
|pursuant to the EU Market Abuse Regulation. The information was submitted for|
|publication, through the agency of the contact person set out above, at      |
|[17:00] CET on August 22, 2016.                                              |
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About GS Sweden AB

The Company’s business operations are conducted through the wholly-owned Danish
subsidiary, GomSpace ApS, with operational office in Aalborg, Denmark. GomSpace
is a space company with a mission to be engaged in the global market for space
systems and services by introducing new products, i.e. components, platforms and
systems based on innovation within professional nanosatellites. The Company is
listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA
Sweden AB is the Company’s Certified Adviser. For more information, please visit
our website on www.gomspace.com.