Correction*; Norbit ASA: Mandatory notification of trades and disclosure of share lending

03 Jul 2024 11:52 CEST

Trondheim, 3 July 2024: Reference is made to the stock exchange announcement by
Norbit ASA ("NORBIT" or the "Company") (Euronext Oslo Børs trading symbol:
NORBT) of 2 July 2024 (the "Announcement") regarding the successful private
placement raising gross proceeds of approximately NOK 200 million (the "Private
Placement") at a price per share of NOK 77 (the "Offer Price"). All terms used
in this notice shall have the meaning ascribed to such terms in the
Announcement.

Mandatory notification of trades

The following primary insiders in the Company and close associates of primary
insiders were allocated Offer Shares in the Private Placement at the Offer Price
as follows: Reitan Kapital AS ("Reitan Kapital"), a company closely associated
with the Company's Board member Håkon Kavli, was allocated 257,698 Offer Shares;
Petors AS, a company closely associated with the Company's CEO Per Jørgen
Weisethaunet, was allocated 25,974 Offer Shares.

Disclosure of share lending

To facilitate delivery-versus-payment settlement to investors in the Private
Placement, Reitan Kapital has lent existing shares to the Managers pursuant to a
share lending agreement as further detailed in the Announcement.

*Prior to completion of the Private Placement, Reitan Kapital held 5,829,083
shares in the Company (representing approximately 9.68% of the issued share
capital and votes). The Managers have actually borrowed 2,597,403 shares from
Reitan Kapital which will be delivered to investors in the Private  Placement.
During the term of the share  loan, and prior  to the redelivery,  Reitan
Kapital's shareholding in the Company  will  be  reduced  to  3,489,378 shares ,
equivalent to approximately 5.55% of the issued share capital  and  votes.
Consequently,  Reitan  Kapital has not fallen below the 5% threshold  pursuant
to  section  4-2 (1)  and  (3)  of the Norwegian Securities Trading Act.

The Board has resolved to issue the 2,597,403 Offer Shares in the Private
Placement pursuant to the authorization granted by the Company's annual general
meeting held on 6 May 2024, all of which will be subscribed by the Managers and,
once issued, delivered to Reitan Kapital as settlement of shares borrowed in
relation to settlement of the Private Placement.

*See the enclosed forms for further details about the transactions.

For further 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 applications,
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. The Oceans segment delivers tailored technology
solutions to global maritime markets. The Connectivity segment provides wireless
solutions for identification, monitoring and tracking. The Product Innovation &
Realization segment offers R&D services, proprietary products, and contract
manufacturing to key customers. NORBIT is headquartered in Trondheim with
manufacturing in Europe, has around 500 employees, and a worldwide sales and
distribution platform.

For more information: www.norbit.com (http://www.norbit.com)

This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and section 4-3 of the Norwegian Securities
Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

622987_Norbit ASA - Mandatory disclosure of transactions by primary insiders and their close associates.pdf