NORBIT – Received commitment for additional NOK 25 million On-Board Unit order

Trondheim, 4 February 2022: NORBIT today announces that NORBIT ITS, part of segment Connectivity, has received an extension of the order announced 19 April 2021 from an undisclosed European customer for delivery of On-Board Units. The extension represents a value of NOK 25 million and delivery is scheduled for the second half of 2022.

“This extension for delivery of additional On-Board Units reaffirms our strategy of expanding our business to business cooperation within Connectivity, and also shows the potential of this strategic customer”, says Per Jørgen Weisethaunet, CEO of NORBIT.

In addition, and with reference to the April 2021 announcement, NORBIT expects to recognize approximately half of the initial NOK 50 million order in the first half of 2022.

For further queries, please contact:

Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

About NORBIT
NORBIT is a global provider of tailored technology to selected niches, solving challenges 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 encompasses NORBIT's technology within low power wireless solutions both related to electronic vehicle identification for tolling and tachograph enforcement, together with a new vertical comprising of the recently acquired Hungarian software solutions provider iData, as well as NORBIT's initiatives within Connected Solutions in selected niche applications. 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

The information is such that NORBIT is required to disclose in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

The information was submitted for publication by Elise Heidenreich, Investor Relations at NORBIT ASA, on 4 February 2022 at 07:10 CET.