Trondheim, 4 July 2023: The Board of Directors of NORBIT ASA (the 'Company') has
decided to approve an incentive share purchase program for all eligible
employees in the NORBIT group of companies.  In total, 183 employees
participated in the program.

The share purchase program is structured as a share matching program where
participants are offered the opportunity to acquire shares at market value, and
in turn, obtain a right to receive compensation in new shares equivalent to
their invested amount after 24 months if certain conditions are met.

In this year's program a total of 142,727 shares have been subscribed for. Upon
allocation, the subscription price of the shares was set to NOK 56.49, which
corresponds to the five-day average volume weighted price of NORBIT ASA's share
prior to 26 June 2023.

In addition, and with reference to the stock exchange notice dated 2 July 2021,
the Board of Directors has decided to award shares to eligible employees who
participated in the share matching program in 2021. A total of 120,845 shares
will be issued at par value as a result of the award.

In connection with the share issues, the Board of Directors of the Company has
resolved to increase the Company's share capital by NOK 26,357.20 through the
issuance of 263,572 new shares, each with a par value of NOK 0.10. The
resolution is based on the authorisation to increase the share capital granted
by the Company's general meeting on 4 May 2023.

Following registration of the share capital increase with the Norwegian Register
of Business Enterprises, the Company will have a share capital of NOK
5,982,074.70, divided into 59,820,747 shares, each with a par value of NOK 0.10.

Certain of the primary insiders have agreed with the Company that the Company
will purchase a portion of the shares awarded under the matching program 2021 to
cover tax liabilities. In aggregate, the Company will purchase 10,986 shares at
a price of NOK 52.65 per share.

Following completion of the above-mentioned transactions, the relevant primary
insiders together with their related parties, will hold the following number of
shares in the Company:

Per Kristian Reppe, Group Chief Financial Officer: 66,701 shares
Peter Eriksen, Business Unit Director Oceans: 819,370 shares
Julie Dahl Benum, Director of Strategy and ESG: 1,150 shares
Sture Ingdal, Finance Director:  7,390 shares
Arild Søraunet, Group Chief Technical Officer: 739,448 shares

For further details on shares subscribed for and awarded to by primary insiders
of the Company and the share sales to the Company, please see the attached
forms.

For more 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 450 employees, and a worldwide sales and
distribution platform.
For more information: www.norbit.com

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.