NORBIT ASA - Closing of NORBIT's acquisition of the maritime technology company Innomar

12 Jul 2024 17:14 CEST

Trondheim, 12 July 2024: Reference is made to the stock exchange notice released
on 27 June 2024 regarding NORBIT ASA's ("NORBIT" or the "Company") acquisition
of 100 per cent of the equity interest in the technology company INNOMAR
Technologie GmbH ("Innomar"), the market leader in the field of sub-bottom
profilers in the maritime industry.

The transaction has today successfully closed, and the EUR 34.9 million cash
portion of the purchase price has been settled. The remaining EUR 4.8 million
was settled by the board of directors of NORBIT resolving to issue a total
726,272 consideration shares to the founding management of Innomar at a per
share subscription price equal  to the subscription price in the private
placement completed on 2 July 2024 (NOK 77 per share). A lock-up period of 24
months for the founding management of Innomar will commence today.

Following registration of the share capital increase relating to the issuance of
the consideration shares to the founding management of Innomar, NORBIT's share
capital will be increased by NOK 72,627.20 from NOK 6,279,749.10 to NOK
6,352,376.30, consisting of 63,523,763 shares, each with a par value of NOK
0.10.

NORBIT's acquisition of Innomar will for accounting purposes be effective as of
1 July 2024.

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 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 and North America, has around 500 employees, and a
worldwide sales and distribution platform.

For more information: www.norbit.com

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