Welltec Announces Estimated Historical Financial Results

Alleroed, DENMARK

Welltec Announces Estimated Historical Financial Results

Allerød, Denmark (September 27, 2021) — Welltec International ApS (Welltec) hereby announces the estimated historical financial results depicted in the charts below:

These estimated results are preliminary and unaudited, are based on information available to management as of the date hereof and are subject to adjustment based upon accounting closing procedures (which have not been completed). In addition, these estimated results should not be viewed as a substitute for full quarterly financial statements prepared in accordance with international financial reporting standards (IFRS).

Further, these estimates are not necessarily indicative of Welltec’s results for any future period.

Our independent public accounting firm has not performed any audit, review or set of procedures with respect to these estimated results, nor have they expressed any opinion or any other form of assurance thereon. An audit, review or set of procedures of these results could result in changes.

As a result of the above, actual results may be materially different from the estimates presented herein. Welltec does not undertake any obligation to update this information.

EBITDA is a non-IFRS measure. Because the estimated results presented above are preliminary, we have not provided a reconciliation of EBITDA to net income or net cash provided by operating activities.

The foregoing information constitutes forward-looking statements. See “Forward Looking Statements” below.

About Welltec
Welltec® is a global technology company that develops and provides efficient, hi-tech solutions for the energy industry.
The company was founded in 1994 and grew rapidly by supplying innovative robotic technology to oil and gas operators. In 2010, Welltec introduced a new business segment focused on the development of Completion products. Commercialization of these products began in 2014, and the company is now a global leader in the field of metal expandable packer technology. Welltec’s cutting-edge products and services are designed to optimize the performance and integrity of a well, in any environment.

Through advanced engineering and lightweight design, Welltec’s solutions have helped clients increase operational efficiency and reduce carbon footprints in a safe and sustainable way for more than 25 years.

Neither the content of Welltec’s website nor any website accessible by hyperlinks on Welltec’s website is incorporated in, or forms part of, this announcement. The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Forward-Looking Statements
This release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. From time to time, we provide forward-looking statements in other materials we release to the public as well as oral forward-looking statements. We have tried, wherever possible, to identify such statements by using the words “believes,” “estimates,” “aims,” “targets,” “anticipates,” “expects,” “intends,” “plans,” “continues,” “on-going,” “potential,” “product,” “projects,” “guidance,” “seeks,” “may,” “will,” “could,” “would,” “should” or, in each case, their negative, or other variations or comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions.

The absence of such terminology does not necessarily mean that a statement is not forward-looking. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.

We caution you that forward-looking statements are based on potentially inaccurate assumptions and are not guarantees of future performance and that our actual results of operations, financial condition and liquidity and the development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this news release. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this news release, those results or developments may not be indicative of results or developments in subsequent periods.

All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. We undertake no obligation to update any forward-looking statements. Forward-looking statements speak only as of the date they are or were made, and we do not intend to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this news release, currently unknown facts or conditions or the occurrence of unanticipated events, except as required by law.

Søren Søgaard Suhr, CFO
Cell: +45 2034 0488
E-mail: ssuhr@welltec.com