NORBIT - NOK 270 million frame agreement received for On-Board Units

31 Mar 2023 11:44 CEST

Trondheim, 31 March 2023: Today, NORBIT is pleased to announce the award of a
new frame agreement for delivery of On-Board Units from an undisclosed customer.

The frame agreement covers deliveries for a two-year period across 2023-2025.
The contract value is estimated to be in excess NOK 270 million.

"Being able to conclude this significant frame agreement confirms that our
strategy of migrating our On-Board Unit business into long term partnerships
remains successful. This enables us to tailor our offering and bring added value
to our customers", 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 company providing tailored technology to selected
applications by 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 provides tailored wireless
solutions for identification, monitoring and tracking. The PIR segment offers
R&D services, proprietary products, and contract manufacturing to key customers.
NORBIT has around 450 employees, with headquarter in Trondheim, R&D and
manufacturing in Norway and Hungary, 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 31 March 2023 at 11:45 CEST.

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