NORBIT ASA – The board of directors changes its proposal for dividend

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Trondheim, 7 April 2020: The board of directors of NORBIT changes its proposal for dividend from NOK 0.60 per share announced on 14 February 2020 to NOK 0.30 per share. In addition, the board proposes that it is given an authorisation from the general meeting to resolve additional distributions of dividends up to NOK 0.30 per share based on the annual accounts for the financial year 2019 if the board considers this to be appropriate at a later time.

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, as announced on 27 March 2020, the corona pandemic has resulted in increased uncertainty. Since the duration and magnitude of the global consequences from the corona virus still are uncertain, the board wished to be precautious to maintain the company’s financial flexibility.

NORBIT’s annual general meeting is scheduled to be held on 4 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.

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