The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.

About Materialise

Materialise incorporates 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our current estimates for fiscal 2021 revenues and Adjusted EBITDA, results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the COVID-19 pandemic and related public health measures, as well as the related actions we are taking in response), and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's most recent actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release. For example, the variant strains of the COVID-19 virus could have a material adverse impact on the global economic recovery from the pandemic.

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.

Consolidated income statements (Unaudited)
		for the three months ended September 30,						for the nine months ended September 30,
In 000€		2021		2021		2020 (*)		2021		2020
		U.S.$		€		€		€		€
Revenue		60,437		52,195		40,785		148,461		125,148
Cost of Sales		(24,454)		(21,119)		(17,483)		(64,378)		(57,310)
Gross Profit		35,983		31,076		23,303		84,084		67,838
Gross profit as % of revenue		59.5%		59.5%		57.1%		56.6%		54.2%
Research and development expenses		(7,644)		(6,602)		(5,861)		(19,982)		(18,434)
Sales and marketing expenses		(14,373)		(12,413)		(11,015)		(35,730)		(33,700)
General and administrative expenses		(9,130)		(7,885)		(7,300)		(23,449)		(21,100)
Net other operating income (expenses)		411		355		1,157		2,318		2,733
Operating (loss) profit		5,247		4,529		284		7,239		(2,663)
Financial expenses		2,703		2,334		(2,462)		(3,182)		(4,923)
Financial income		2,164		1,869		1,132		4,426		1,976
Share in loss of joint venture		-		-		-		-		(39)
(Loss) profit before taxes		10,114		8,732		(1,046)		8,483		(5,649)
Income Taxes		(93)		(80)		764		(55)		497
Net (loss) profit for the period		10,021		8,652		(282)		8,428		(5,152)
Net (loss) profit attributable to:		-
The owners of the parent		10,022		8,655		(246)		8,432		(4,989)
Non-controlling interest		(3)		(3)		(36)		(4)		(163)
Earning per share attributable to owners of the parent
Basic		0.17		0.15		(0.01)		0.15		(0.01)
Diluted		0.17		0.15		(0.01)		0.15		(0.01)
Weighted average basic shares outstanding		58,731		58,731		53,194		55,935		53,194
Weighted average diluted shares outstanding		58,944		58,944		53,194		56,206		53,194

(*)		The year 2020 has been restated to reflect the final accounting of the business combination with Engimplan.
		Impact on the quarter operating result was 83 kEUR, no impact on year to date operating result.

Consolidated statements of comprehensive income (Unaudited)
		for the three months ended September 30,						for the nine months ended September 30,
In 000€		2021		2021		2020 (*)		2021		2020
		U.S.$		€		€		€		€
Net profit (loss) for the period		10,021		8,652		(282)		8,428		(5,152)
Other comprehensive income
Recycling
Exchange difference on translation of foreign operations		(446)		(385)		(1,377)		1,590		(8,165)
Non-recycling
Fair value adjustments through OCI - Equity instruments		-		-		-		48		-
Other comprehensive income (loss), net of taxes		(446)		(385)		(1,377)		1,638		(8,165)
Total comprehensive income (loss) for the year, net of taxes		9,572		8,267		(1,659)		10,066		(13,317)
Total comprehensive income (loss) attributable to:
The owners of the parent		9,576		8,270		(1,490)		10,069		(11,968)
Non-controlling interests		(3)		(3)		(169)		(3)		(1,349)

(*)		The year 2020 has been restated to reflect the final accounting of the business combination with Engimplan.
		Impact on the quarter operating result was 83 kEUR, no impact on year to date operating result.

Consolidated statement of financial position (Unaudited)
		As of September 30,		As of December 31,
In 000€		2021		2020
Assets
Non-current assets
Goodwill		20,531		20,342
Intangible assets		31,534		32,981
Property, plant & equipment		84,512		88,267
Right-of-Use assets		9,109		10,996
Investments in joint ventures		-		-
Deferred tax assets		249		201
Other non-current assets		13,868		14,139
Total non-current assets		159,803		166,926
Current assets
Inventories		11,812		10,043
Trade receivables		38,543		30,871
Other current assets		9,767		8,290
Cash and cash equivalents		194,946		111,538
Total non-current assets		255,068		160,741
Total assets		414,871		327,667

		As of September 30,		As of December 31,
In 000€		2021		2020
Equity and liabilities
Equity
Share capital		4,445		4,096
Share premium		226,750		141,274
Consolidated reserves		3,430		(4,469)
Other comprehensive income		(6,158)		(7,797)
Equity attributable to the owners of the parent		228,467		133,104
Non-controlling interest		7		-
Total equity		228,474		133,104
Non-current liabilities
Loans & borrowings		75,760		90,502
Lease liabilities		5,445		7,086
Deferred tax liabilities		6,175		6,805
Deferred income		4,812		5,327
Other non-current liabilities		2,151		398
Total non-current liabilities		94,343		110,118
Current liabilities
Loans & borrowings		17,740		13,984
Lease liabilities		3,235		3,538
Trade payables		22,357		17,698
Tax payables		1,311		974
Deferred income		30,174		29,554
Other current liabilities		17,237		18,697
Total current liabilities		92,054		84,445
Total equity and liabilities		414,871		327,667

Consolidated statement of cash flows (Unaudited)
		for the nine months ended September 30,
In 000€		2021		2020
Operating activities
Net (loss) profit for the period		8,429		(5,153)
Non-cash and operational adjustments
Depreciation of property plant & equipment		11,460		11,266
Amortization of intangible assets		3,780		3,349
Share-based payment expense		(878)		-
Loss (gain) on disposal of property, plant & equipment		43		(16)
Movement in provisions		7		-
Movement reserve for bad debt		154		36
Financial income		(4,426)		(1,977)
Financial expense		3,182		4,922
Impact of foreign currencies		107		18
Share in loss (gain) of a joint venture (equity method)		-		39
(Deferred) income taxes		55		(496)
Other non-current liabilities		-
Working capital adjustments		(4,531)		5,221
Decrease (increase) in trade receivables and other receivables		(7,553)		6,765
Decrease (increase) in inventories		(1,770)		2,757
Increase (decrease) in trade payables and other payables		4,792		(4,301)
Income tax paid & Interest received		108		(2,457)
Net cash flow from operating activities		17,490		14,752

		for the nine months ended September 30,
In 000€		2021		2020
Investing activities
Purchase of property, plant & equipment		(4,827)		(8,196)
Purchase of intangible assets		(2,439)		(5,783)
Proceeds from the sale of property, plant & equipment & intangible assets (net)		295		150
(Convertible) Loan to third party		1,239		(2,428)
Investment in subsidiary, net of cash acquired		(1,680)		-
Net cash flow used in investing activities		(7,412)		(16,257)
Financing activities
Repayment of loans & borrowings		(11,169)		(8,909)
Repayment of finance leases		(2,841)		(2,997)
Capital increase		85,787		140
Interest paid		(1,652)		(1,626)
Other financial income (expense)		2,740		(1,034)
Net cash flow from (used in) financing activities		72,865		(14,426)
Net increase of cash & cash equivalents		82,943		(15,931)
Cash & Cash equivalents at the beginning of the year		111,538		128,897
Exchange rate differences on cash & cash equivalents		465		(2,275)
Cash & cash equivalents at end of the year		194,946		110,691

Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited)
		for the three months ended September 30,				for the nine months ended September 30,
In 000€		2021		2020 (*)		2021		2020
Net profit (loss) for the period		8,652		(282)		8,428		(5,152)
Income taxes		80		(764)		55		(497)
Financial expenses		(2,334)		2,462		3,182		4,923
Financial income		(1,869)		(1,131)		(4,426)		(1,976)
Depreciation and amortization		5,314		4,839		15,240		14,616
Share in loss of joint venture		-		-		-		39
EBITDA		9,843		5,123		22,480		11,952
Share-based compensation expense (1)		(104)		900		(878)		1,057
Acquisition-related expenses business combinations (2)		-		-		405		-
Adjusted EBITDA		9,739		6,023		22,007		13,009

(1)		Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.
(2)		Acquisition-related expenses of business combinations represent expenses incurred in connection with the acquisition of our option to buy Link3D.
(*)		The year 2020 has been restated to reflect the final accounting of the business combination with Engimplan.
		Impact on the quarter operating result was 83 kEUR, no impact on year to date operating result.

Segment P&L (Unaudited)
In 000€		Materialise Software		Materialise Medical		Materialise Manufacturing		Total segments		Unallocated (1)(2)		Consolidated
For the three months ended September 30, 2021
Revenues		10,468		18,910		22,817		52,196		(0)		52,195
Segment (adj) EBITDA		3,708		5,251		3,546		12,506		(2,767)		9,739
Segment (adj) EBITDA %		35.4%		27.8%		15.5%		24.0%				18.7%
For the three months ended September 30, 2020
Revenues		9,478		17,161		14,154		40,793		(8)		40,785
Segment (adj) EBITDA		3,114		5,476		(321)		8,269		(2,246)		6,023
Segment (adj) EBITDA %		32.9%		31.9%		-2.3%		20.3%				14.8%
In 000€		Materialise Software		Materialise Medical		Materialise Manufacturing		Total segments		Unallocated (1)(2)		Consolidated
For the nine months ended September 30, 2021
Revenues		30,719		52,686		65,199		148,604		(142)		148,461
Segment (adj) EBITDA		10,266		14,313		5,252		29,831		(7,826)		22,004
Segment (adj) EBITDA %		33.4%		27.2%		8.1%		20.1%				14.8%
For the nine months ended September 30, 2020
Revenues		28,839		44,541		51,746		125,126		21		125,147
Segment (adj) EBITDA		9,515		9,072		1,447		20,035		(7,026)		13,008
Segment (adj) EBITDA %		33.0%		20.4%		2.8%		16.0%				10.4%

(1)		Unallocated Revenues consists of occasional one-off sales in our core competencies not allocated to any of our segments.
(2)		Unallocated segment adjusted EBITDA consists of corporate research and development, corporate headquarter costs and corporate other operating income (expense), and the added share-based compensation expenses, acquisition related expenses of business combinations, impairments and fair value of business combinations that are included in Adjusted EBITDA.

Reconciliation of Net Profit (Loss) to Segment EBITDA (Unaudited)
		for the three months ended September 30,				for the nine months ended September 30,
In 000€		2021		2020 (*)		2021		2020
Net profit (loss) for the period		8,652		(282)		8,428		(5,152)
Income taxes		80		(764)		55		(497)
Financial cost		(2,334)		2,462		3,182		4,923
Financial income		(1,869)		(1,131)		(4,426)		(1,976)
Share in loss of joint venture						-		39
Operating (loss) profit		4,529		285		7,239		(2,663)
Depreciation and amortization		5,314		4,839		15,240		14,616
Corporate research and development		710		666		2,191		2,034
Corporate headquarter costs		2,463		2,969		6,907		7,862
Other operating income (expense)		(511)		(492)		(1,745)		(1,816)
Segment EBITDA		12,506		8,269		29,831		20,035

(*)		The year 2020 has been restated to reflect the final accounting of the business combination with Engimplan.
		Impact on the quarter operating result was 83 kEUR, no impact on year to date operating result.

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