NORBIT – Award and exercise of restricted stock units

Trondheim, 19 May 2022: The Board of Directors of NORBIT ASA (the "Company") has resolved to award a total of 183,395 restricted stock units ("RSUs") to members of its executive management based on the financial year 2021 in accordance with the terms for the RSU program described in the Company's report on remuneration to the senior executives as approved by the Company's annual general meeting on 4 May 2022. The Company's board of directors has further resolved to issue a total of 61,129 shares at par value as a result of exercise of the vested portion of such RSUs, equal to approximately one third of the total number of RSUs awarded. The remaining two thirds of the awarded RSUs will vest with the next third at the time of the Annual General Meeting in 2023 and the last third at the time of the Annual General Meeting in 2024.

Following registration of the share capital increase related to the exercise of the RSUs with the Norwegian Register of Business Enterprises, the Company's new share capital will be NOK 5,852,043.10, divided into 58,520,431 shares, each with a par value of NOK 0.10.

Certain of the members of the executive management have agreed with the Company that the Company will purchase a portion of the shares subscribed as a consequence of the exercise of the RSUs to cover tax liabilities. In aggregate, the Company will purchase 16,832 shares at a price of NOK 27.00 per share.

Following completion of the above mentioned transaction, the relevant members of the Company's executive management, together with their related parties, will hold the following number of shares and RSUs in the Company:

Per Jørgen Weisethaunet, Group Chief Executive Officer: 6,992,944 shares and 26,713 RSUs
Per Kristian Reppe, Group Chief Financial Officer: 33,070 shares and 18,106 RSUs
Peter Tschulik, Business Unit Director Connectivity: 205,496 shares and 15,426 RSUs
Peter Eriksen, Business Unit Director Oceans: 762,682 shares and 28,226 RSUs
Stein Martin Beyer, Group Chief Operating Officer and Business Unit Director PIR: 299,760 shares and 18,455 RSUs
Arild Søraunet, Group Chief Technical Officer: 725,823 shares and 15,340 RSUs

For further details on RSUs awarded to and exercised by primary insiders of the Company and the share sales to the Company, please see the attached forms.

For more information, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

About NORBIT ASA
NORBIT is a global provider of tailored technology to selected niches, solving challenges and promoting sustainability through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets: Oceans, Connectivity and Product Innovation & Realization (PIR). The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment providing wireless solutions for identification, monitoring and tracking. The PIR segment offers R&D services, proprietary products and contract manufacturing to key customers. NORBIT is headquartered in Trondheim with manufacturing in Norway, has around 400 employees and a worldwide sales and distribution platform.

For more information: www.norbit.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and Article 19 of the European Market Abuse Regulation.

Attachments

• NORBIT - PDMR attachment share sales
• NORBIT - PDMR attachment share subscriptions
• NORBIT - PDMR attachment RSU awards