NORBIT enters exclusive negotiations for an Oceans technology acquisition

06 May 2026 12:20 CEST

Trondheim, 6 May 2026: NORBIT is in exclusive negotiations regarding an add-on
acquisition of an undisclosed Oceans-related technology company. The acquisition
will broaden the product offering in the Oceans segment. NORBIT has signed a
term sheet to this effect.

The acquisition target is well positioned as a supplier of tailored sensors to
underwater vehicles, benefiting from growing demand driven by defence and
security-related applications. The target has a strong fit to NORBIT's criteria
to accelerate growth through strategic acquisitions:

* Tailored technology to carefully selected applications
* A complementary product portfolio, providing diversification of revenues and
cash flow
* Positive synergies expected by combining the organisations, including market
and R&D efforts
* Cultural fit with a development-oriented organisation

Since 2020, the target company has reported an annual organic growth rate of 48
per cent and is expected to generate around NOK 100 million in revenues in 2026
with an EBITDA margin* in the range of 25-30 per cent, excluding any synergies
by combining forces with NORBIT.

"We are excited about this opportunity and see a good fit with our strategy to
broaden and complement NORBIT's Oceans product offering. Subject to a positive
outcome of the due diligence process, we look forward to welcoming a new Ocean
Tech company into the NORBIT family, enhancing our offering and enabling us to
deliver more complete solutions to our OEM customers", says Per Jørgen
Weisethaunet, CEO of NORBIT.

A preliminary transaction price has been agreed, valuing the target company on a
cash and debt-free basis of NOK 330 million assuming normalized working capital.
If completed, the acquisition is expected to be financed with new credit lines.

The completion of the transaction is subject to due diligence and the parties
entering into a binding agreement for the acquisition. Signing and closing of
the transaction are targeted to end of June.

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 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 700 employees, and a
worldwide sales and distribution platform.

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

This stock exchange release contains inside information as defined in the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Securities Trading Act.

The information was submitted for publication by Elise Heidenreich, Investor
Relations, at NORBIT ASA, on 6 May 2026 at 12:20 CEST.

* EBITDA as a percentage of revenues, based on IFRS 16. EBITDA is short for
earnings before interest, tax, depreciation and amortisation.

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