Trondheim, 23 February 2022: NORBIT today announces that segment Product, Innovation and Realization (PIR) has entered into a frame agreement with an undisclosed European industrial customer for delivery of electronic modules for electromobility charging products. The agreement has a value of approximately NOK 120 million over a four-year period.

“This is an important contract for the PIR segment and shows that our manufacturing capabilities are highly competitive. This award confirms that we are well positioned for the electrification megatrend”, says NORBIT CEO, Per Jørgen Weisethaunet.

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 niches, solving challenges 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 (PIR). The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment encompasses NORBIT's technology within low power wireless solutions both related to electronic vehicle identification for tolling and tachograph enforcement, together with a new vertical comprising of the recently acquired Hungarian software solutions provider iData, as well as NORBIT's initiatives within Connected Solutions in selected niche applications. The PIR segment offers R&D services, proprietary products and contract manufacturing to key customers.

NORBIT is headquartered in Trondheim with manufacturing in Norway, has around 400 employees and a worldwide sales and distribution platform.

For more information: www.norbit.com

The information is such that NORBIT is required to disclose in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

The information was submitted for publication by Elise Heidenreich, Investor Relations at NORBIT ASA, on 23 February 2022 at 12:45 CET.