NORBIT - Received confirmation for significant volume increase from existing customer

02 Jan 2023 14:47 CET

Trondheim, 2 January 2023: NORBIT announces today that segment Connectivity has
received confirmation of a significant volume increase for delivery of On-Board
Units to an undisclosed European customer. The parties are currently in advanced
discussions regarding the final commercial terms.

The confirmed volumes for 2023 represent a value of approximately NOK 150
million. This compares to approximately NOK 70 million in revenues recognised in
2022 from this customer.

"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.

For further queries, 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 provides 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

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 2 January 2023 at 14:45 CET.

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