Trondheim, 27 March 2020: NORBIT ASA, a global provider of tailored technology
to carefully selected niches, today provides a business update for the
implications of the corona pandemic (COVID-19) on the company’s operations.

NORBIT’s highest concern is the safety and well-being of its employees and
customers. The company is monitoring the situation carefully and has initiated
several proactive measures to safeguard its people and operations, as well as
deliveries to customers.

In the report for the fourth quarter of 2019, the company announced lower
visibility in customer orders from the European automotive industry, resulting
from a reported decline in the demand for heavy trucks in 2020. Since then,
several of the largest European truck manufacturers, for example Volvo, has
announced temporary closure of several of its production facilities. 

NORBIT currently experience that some customer orders are postponed or reduced
in all business segments, and the uncertainty related to the medium-term outlook
has increased. Also, due to restrictions imposed by national authorities, both
in Norway and other countries, the company experience some delays in the import
of components and export of goods. Despite this, NORBIT has so far been able to
maintain production at its facilities in Røros and Selbu. 

NORBIT has a strong financial position and its diversified product offering,
targeting different industries, geographies and customers, makes the company
well positioned to meet this challenging situation. However, the consequences of
the corona outbreak are highly uncertain. NORBIT’s goal is to maintain its
financial robustness during this challenging period, creating a sound foundation
for long-term value creation and sustainable development of the company.

NORBIT will publish its results for the first quarter of 2020 on 6 May 2020.

For more information, please contact:
Charlotte Knudsen, IR and Communications, +47 9756 1959

About NORBIT ASA
NORBIT is a global provider of tailored technology to carefully selected niches.
The company’s business is structured to address its key markets; Oceans,
targeting the global maritime markets, Intelligent Traffic Systems (ITS),
offering connectivity solutions for truck applications, and Product Innovation
and Realization (PIR), with in-house multidisciplinary R&D and manufacturing.

NORBIT is headquartered in Trondheim, Norway, with manufacturing facilities in
Selbu and Røros, Norway and 12 offices and subsidiaries around the world.

For more information: www.norbit.com