NORBT: NORBIT and Water Linked join forces to broaden underwater technology offering

Trondheim, 22 June 2026: NORBIT has signed an agreement to acquire 100 per cent
of the shares in Water Linked AS, a Trondheim-based provider of underwater
navigation and imaging technology. Founded in 2013, Water Linked serves
customers across global maritime, defence and offshore energy markets.

Water Linked is the company referred to in NORBIT's stock exchange announcement
on 6 May 2026 regarding exclusive negotiations for an add-on acquisition of an
undisclosed Oceans-related technology company. The acquisition broadens and
complements NORBIT's Oceans product offering and strengthens NORBIT's position
as a supplier of tailored technology to underwater vehicles.

Water Linked's product portfolio includes Doppler Velocity Logs (DVLs), 3D
imaging sonars, underwater modems and acoustic positioning systems, enabling
navigation, perception and autonomy across subsea and surface applications,
including ROVs, AUVs and uncrewed surface vessels operating in GPS-denied
environments. The products are used in applications such as subsea inspection,
offshore energy operations, marine research, defence and underwater
infrastructure development.

As previously communicated, Water Linked has reported strong organic growth in
recent years 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 from combining forces with NORBIT.

The transaction values Water Linked NOK 330 million on a cash and debt-free
basis and will be fully cash-settled at closing. The acquisition will be
financed with a new term loan. Closing of the transaction is expected on or
about 30 June 2026.

"We are pleased to welcome the Water Linked colleagues to the NORBIT family.
This is a good fit with our strategy to broaden and complement NORBIT's Oceans
product offering, enhancing our capabilities and enabling us to deliver
increased value to our OEM customers. Water Linked brings a strong market
position, a highly competent team and a development-oriented culture that fits
well with NORBIT. With Water Linked located in close proximity to NORBIT's
headquarters, we have a strong foundation for collaboration as we build on our
combined capabilities and pursue opportunities to realise the synergy
potential," says Per Jørgen Weisethaunet, CEO of NORBIT.

Water Linked will continue its operations as Water Linked, a NORBIT Company.
Existing customers can expect continuity in products, support and customer
relationships, while over time benefiting from NORBIT's broader capabilities,
global sales platform and extended product offering.

"Water Linked's technology is complementary to NORBIT Oceans. Their products are
a natural extension of our underwater acoustics offering that opens interesting
opportunities when combined with our existing sonar technology and customer
insight. We look forward to working closely with the Water Linked team to
explore the combined product roadmap and identify where we can create additional
value for our complementary customer base," says Peter K. Eriksen, Business Unit
Director of NORBIT Oceans.

"Joining NORBIT is an exciting next chapter for Water Linked. Since our founding
in 2013, we have built a dedicated team, a focused product portfolio and a
market position based on the trust of customers worldwide. NORBIT understands
our technology, our customers and our development-oriented culture. As part of
NORBIT, we will have a stronger platform for further growth, continued product
development and delivering even more value to customers and partners," says
Torstein Skogseth, CEO of Water Linked.

For media, investors and analysts, please contact:

Per Jørgen Weisethaunet, CEO of NORBIT, +47 959 62 915

Per Kristian Reppe, CFO of NORBIT, +47 900 33 203

For further queries, please contact:

Peter K. Eriksen, Business Unit Director of NORBIT Oceans, +1 (805) 708-3877

Torstein Skogseth, CEO of Water Linked, +47 406 03 151

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 communication, identification, monitoring, and
tracking. The Product Innovation & Realization segment offers R&D services and
contract manufacturing to key customers. NORBIT is headquartered in Trondheim,
with manufacturing in Europe and North America. It has around 700 employees and
a worldwide sales and distribution platform.

For more information: www.norbit.com (http://www.norbit.com)
as around 700 employees and\
a worldwide sales and distribution platform.\
\
For more information: www.norbit.com (http://www.norbit.com)\