Trondheim, 27 January 2023: Reference is made to the stock exchange notice dated 2 January 2023 where NORBIT announced that segment Connectivity had received confirmation from an existing undisclosed European customer of a significant volume increase of On-Board Units, pending final negotiations on commercial terms.

Today, NORBIT is pleased to announce that the parties have entered into an agreement and NORBIT has received the order for approximately NOK 150 million.

The order received is for deliveries in the first half of 2023. The parties will continue discussions with regards to additional volumes for the second half of the year. Thus, total volumes are expected to be significantly higher for the full year compared to what was communicated 2 January.

“This is the result of a strong and trusted partnership with the client and our strategy of migrating the sales of On-Board Units from tendering to B2B. Our in-house manufacturing capabilities allow for scalability, enabling us to deliver on these kind of opportunities. We are enthusiastic with regards to the additional volume potential in the second half of 2023”, says Per Jørgen Weisethaunet, CEO of NORBIT.

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 niches, 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 (PIR). The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment provides wireless solutions for identification, monitoring and tracking. 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 450 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 27 January 2023 at 07:00 CET.