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KONA I granted Mastercard Letter of Approval for IDEX Pay biometric cards

1. KONA I received Mastercard approval for biometric payment cards. 2. KONA I is the first to obtain approval for both PVC and Metal cards. 3. Annual production capacity exceeds 60 million smart cards. 4. This technology enhances security for payments and identity control.

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FAQ

Why Bullish?

Mastercard's approval may boost KONA I's market position and demand, indirectly benefiting MA.

How important is it?

The move enhances Mastercard's reputation in secure payment solutions, which is vital for its business.

Why Long Term?

The adoption of biometric technology may take time but presents sustainable growth opportunities.

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MAIDEX
February 19, 2025 05:45 ET  | Source: IDEX BIOMETRICS ASA Oslo, Norway - 19 February 2025 – Global smart card and technology platform company KONA I, has obtained the Letter of Approval from Mastercard for biometric plastic (PVC) payment cards built on the IDEX Pay platform, allowing the issuance and deployment of biometric cards globally. KONA I obtained as the world’s first, Mastercard approval for IDEX Pay biometric metal cards at the end of last year. South Korea based KONA I reports an annual production capacity of more than 60 million smart cards. They are leaders in smart cards, payment solutions and services for the financial, banking and public sectors. "KONA I has proven its leadership as the first manufacturing partner fully approved by Mastercard for both PVC and Metal cards. These certifications allow for industrialized production and accelerated commercialization. The combined technology leadership from KONA I and IDEX Biometrics is paving the way for more secure payments, access and identity control to consumers around the world,” says Catharina Eklof, Chief Executive Officer at IDEX Biometrics. For further information contact:Marianne Bøe, Head of Investor Relations, +47 91800186Kristian Flaten, CFO, +47 95092322E-mail:ir@idexbiometrics.com About IDEX BiometricsIDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. The company's solutions provide convenience, security, peace of mind, and seamless user experiences worldwide. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, IDEX Biometrics' biometric solutions target card-based applications for payments and digital authentication. As an industry enabler, the company partners with leading card manufacturers and technology companies to bring its solutions to market. For more information, please visit www.idexbiometrics.com. Trademark StatementIDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders. About this noticeThis notice was issued by Marianne Bøe, Head of Investor Relations, on 19 February 2025 at 11:45 CET on behalf of IDEX Biometrics ASA.

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