Nano Dimension : Q2 2022 Periodic Report

Nano Dimension's Q2/2022 Revenues: $11.1 Million, 1,268% Increase over

Q2/2021

H1/2022 Revenue was $21.5 million, 1,227% increase over H1/2021

Conference call to be held today at 9:00 a.m. EDT

Waltham, Massachusetts, September 1st, 2022 - Nano Dimension Ltd. (Nasdaq: NNDM, "Nano Dimension" or the "Company"), a leading supplier of Additively Manufactured Electronics ("AME") and multi-dimensionalmetal & ceramic Additive Manufacturing ("AM") 3D printers, today announced financial results for the second quarter ended June 30th, 2022.

Nano Dimension reported revenues of $11.1 million for the second quarter of 2022, an increase of 1,268% over the same quarter in 2021.

Revenues for the six months period ended June 30th, 2022, were $21.5 million, which represent a 1,227% increase over the six months period ended June 30th, 2021. Revenues for Q2/2022 were 6% over Q1/2022.

The Company ended the quarter with a cash, short-term investment and deposits balance of $1.27 billion (including securities and short and long-term unrestricted bank deposits), while net loss for the second quarter was $40 million and Adjusted EBITDA was negative $21.3 million.

Highlighted results for Q2/2022 were:

• Net loss of $40 million includes $10.9 million non-cash adjustments for share-based payments and depreciation and amortization expenses.
• Gross margin (excluding amortization of intangible assets, also recognized in business combination) was 36%.
• Adjusted EBITDA was negative $21.3 million.
• Adjusted EBITDA includes $12.9 million of R&D cash expenses.
• Net cash used in operations during the second quarter of 2022 was $21.9 million.

Details regarding EBITDA and Adjusted EBITDA can be found later in this press release under "Non-IFRS measures."

CEO MESSAGE TO SHAREHOLDERS:

The efforts of our newly assembled Go-To-Market organization are indeed showing results, manifested by an impressive growth in revenue. It includes Nano Dimension's network of marketing, sales, pre and post sales application engineers and customer care engineers across Europe and the U.S. Their efforts are indeed substantial and effective, especially with the occurrences of unforeseen events, especially the slowdown in Europe resulting from the industrial players' reaction to the evolving war in Ukraine as well as the crisis in electronic components' supply chain.

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We see our role to either prepare for unpredicted circumstances, or at least to react to them swiftly. As part of this commitment to act, in mid-August 2022, we replaced our President of the Americas with Mr. Dale Baker. Dale, an ex-General Electric executive and ex-CEO of seven companies, has worked with us before in similar roles in other exponential growth situations. Dale is already heading the expansion of Nano Dimension's U.S. operations as well as taking the leadership role in AME worldwide sales and marketing activity and gearing up to execute the Company's current organic and M&A growth strategy.

Our vision continues to evolve as we look to transform AM, AM Electronics & adjacent industrial non-digitized sectors into an environmentally friendly & economically efficient additive manufacturing Industry 4.0 - enabling a one production-step-conversion of digital designs into functioning mechanical & electronic devices, on-demand, anytime, anywhere. We aim to build an ecofriendly and intelligent distributed secured network of 3D printers & roll-in adjacent industrial machine-learning-led-digitized manufacturing and self-learning and self-improving machines.

As we have mentioned in the last quarter, the business plan aimed at reaching the above has been expanded with a wider field of view, to fit new arising opportunities. If contraction of multiples and valuations will be sustained, we expect to take advantage of our frugal approach to cash management during the unreasonable "market-inflation" during 2020 to early 2022.

Indeed, in early Q3/2022 we leveraged the shrinking valuations and bought Admatec Europe B.V. and Formatec Technical Ceramics B.V. in Europe (a leading developer and manufacturer of 3D metal/ceramic printing systems and a service provider for ceramic/metal end-user parts), at approximately 2.5 times revenue. We have also established ourselves, at a value of approximately 2 times revenue, as a shareholder of Stratasys Ltd. (Nasdaq: SSYS), in a strategic investment (which may be increased or decreased, subject to market conditions and other economic factors). If acquisitions will withstand more reasonable prices, which have not been available over the last two years, we hope to show attractive synergistic growth from M&A activity.

FINANCIAL RESULTS:

Second Quarter 2022 Financial Results

• Total revenues for the second quarter of 2022 were $11,101,000, compared to $10,430,000 in the first quarter of 2022, and $811,000 in the second quarter of 2021. The increase is attributed to increased sales of the Group's product lines.
• Cost of revenues (excluding amortization of intangibles) for the second quarter of 2022 was $7,151,000, compared to $6,580,000 in the first quarter of 2022, and $332,000 in the second quarter of 2021. The increase is attributed mostly to the increased sales of the Group's product lines.
• Research and development (R&D) expenses for the second quarter of 2022 were $18,365,000, compared to $17,870,000 in the first quarter of 2022, and $9,129,000 in the

second quarter of 2021. The increase compared to the first quarter of 2022 is attributed to an increase in materials and subcontractors expenses, as well as increase in depreciation expenses, partially offset by a decrease in share-based payment expenses. The increase compared to the second quarter of 2021 is attributed mainly to an increase in payroll expenses, subcontractors expenses and share-based payment expenses, as a result of the Company's increased R&D efforts.

• • The R&D expenses net of depreciation and share-based payments expenses were $12,944,000.
• Sales and marketing (S&M) expenses for the second quarter of 2022 were $10,115,000, compared to $9,308,000 in the first quarter of 2022, and $6,009,000 in the second quarter of 2021. The increase is attributed mainly to an increase in payroll expenses as a result of the Group's growing sales and marketing team.
• • The S&M expenses net of depreciation and share-based payments expenses were $7,289,000.
• General and administrative (G&A) expenses for the second quarter of 2022 were $7,207,000, compared to $6,742,000 in the first quarter of 2022, and $4,906,000 in the second quarter of 2021. The increase compared to the first quarter of 2022 is attributed to an increase in office and rent and related expenses, as well as an increase in share-based payments expenses, partially offset by a decrease in professional services. The increase compared to the second quarter of 2021 is attributed to an increase in payroll expenses.
• • The G&A expenses net of depreciation and share-based payments expenses were $5,373,000.
• Net loss attributed to the owners for the second quarter of 2022 was $39,732,000, or $0.15 per share, compared to $33,093,000, or $0.13 per share, in the first quarter of 2022, and $13,602,000, or $0.05 per share, in the second quarter of 2021.

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Six Months Ended June 30 2022, Financial Results

• Total revenues for the six months period ended June 30, 2022, were $21,531,000, compared to $1,622,000 in the six months period ended June 30, 2021. The increase is attributed to increased sales of the Group's product lines.
• Cost of revenues (excluding amortization of intangibles) for the six months period ended June 30, 2022, was $13,731,000, compared to $684,000 in the six months period ended June 30, 2021. The increase is attributed mostly to increased sales of the Group's product lines.
• R&D expenses for the six months period ended June 30, 2022, were $36,235,000, compared to $12,861,000 in the six months period ended June 30, 2021. The increase is

attributed to an increase in payroll and subcontractors expenses as well as an increase in share-based payment expenses, as a result of the Group's increased R&D efforts.

• • The R&D expenses for the six months period ended June 30, 2022, net of depreciation and share-based payments expenses, were $24,667,000.
• S&M expenses for the six months period ended June 30, 2022, were $19,423,000, compared to $8,722,000 in the six months period ended June 30, 2021. The increase is attributed to an increase in payroll and marketing expenses as well as an increase in share-based payment expenses as a result of the Group's growing sales and marketing team.
• • The S&M expenses for the six months period ended June 30, 2022, net of depreciation and share-based payments expenses, were $13,682,000.
• G&A expenses for the six months period ended June 30, 2022, were $13,949,000, compared to $8,331,000 in the six months period ended June 30, 2021. The increase is attributed to an increase in payroll expenses as well as an increase in office and rent and related expenses.
• • The G&A expenses for the six months period ended June 30, 2022, net of depreciation and share-based payments expenses, were $10,592,000.
• Net loss attributed to the owners for the six months period ended June 30, 2022, was $72,825,000, or $0.28 per share, compared to $22,916,000, or $0.10 per share, in the six months period ended June 30, 2021.

Balance Sheet Highlights

• Cash and cash equivalents, together with short and long-term bank deposits totaled $1,246,015,000 as of June 30th, 2022, compared to $1,355,595,000 as of December 31st, 2021. The decrease compared to December 31st, 2021, mainly reflects cash used in operating activities and investing activities.
• Shareholders' equity totaled $1,291,415,000 as of June 30th, 2022, compared to $1,343,356,000 as of December 31st, 2021.

Conference call information

The Company will host a conference call to discuss these financial results today, September 1st, 2022, at 9:00 a.m. EDT (4:00 p.m. IDT). Webcast link: https://veidan.activetrail.biz/nanodimensionq2-2022 U.S. Dial-in Number: 1-866-744-5399, Israel Dial-in Number: 972-3-9180692. Please request the "Nano Dimension NNDM call" when prompted by the conference call operator. For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension's website at http://investors.nano-di.com/events-and-presentations.

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About Nano Dimension

Nano Dimension's (Nasdaq: NNDM) vision is to transform the electronics and similar additive manufacturing sectors through the development and delivery of an environmentally friendly and economically efficient additive manufacturing, Industry 4.0 solution, while enabling a one-production-step-conversion of digital designs into functioning devices - on-demand, anytime, anywhere.

The DragonFly® IV system and specialized materials serve cross-industryHigh-Performance-Electronic-Devices (Hi-PED®s) fabrication needs by simultaneously depositing proprietary conductive and dielectric substances while integrating in-situ capacitors, antennas, coils, transformers, and electromechanical components. The outcomes are Hi-PEDs which are critical enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. In addition, these products enable iterative development, IP safety, fast time-to-market, and device performance gains.

Nano Dimension also develops complementary production equipment for Hi-PEDs and printed circuit board (PCB) assembly (Puma, Fox, Tarantula, Spider, etc.). The core competitive edge for this technology is in its adaptive, highly flexible surface-mount technology (SMT) pick-and-place equipment, materials dispenser suitable for both high-speed dispensing and micro-dispensing, as well as an intelligent production material storage and logistics system.

Additionally, Nano Dimension is a leading developer and supplier of high-performance control electronics, software, and ink delivery system. It invents and delivers state-of-the-art 2D and 3D printing hardware and unique operating software. It focuses on high-value,precision-oriented applications such as specialized direct-to-container packaging, printed electronics functional fluids, and 3D printing, which is all controlled by the proprietary software system - Atlas.

Serving similar users of Hi-PEDs, Nano Dimension's Fabrica 2.0 micro additive manufacturing system enables the production of microparts based on a Digital Light Processor (DLP) engine that achieves repeatable micron levels resolution. The Fabrica 2.0 is engineered with a patented array of sensors that allows a closed feedback loop, using proprietary materials to achieve very high accuracy while remaining a cost-effective mass manufacturing solution. It is used in the areas of micron-level resolution of medical devices, micro-optics, semiconductors, micro-electronics,micro-electro-mechanical systems (MEMS), microfluidics, and life sciences instruments.

For more information, please visit www.nano-di.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Nano Dimension's current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. For example, Nano Dimension is using forward-looking statements when it discusses its commitment, vision and aim to build an ecofriendly and intelligent distributed secured network of 3D printers & roll-in adjacent industrial machine-learning-led-digitized manufacturing and self-learning and self-improving machines, that if contraction of multiples and valuations will be sustained, the Company expects to take advantage of its frugal approach to cash management during the unreasonable "market-inflation" during 2020 to early 2022, that investment in Stratasys Ltd. may be increased or decreased, subject to market conditions and other economic factors, and that if acquisitions will withstand more reasonable prices, the Company hopes to show attractive synergistic growth from M&A activity. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Nano Dimension's Annual Report on Form 20-F filed with the Securities and Exchange Commission ("SEC") on March 31, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to