WELCOME TO NORBIT's INVESTOR SECTION

NORBIT – Closing of iData transaction and issuance of new shares

Reference is made to the announcement made by NORBIT ASA (the «Company») on 11 May 2021, regarding the acquisition of iData Kft. The acquisition has today been completed and the Company’s board of directors has resolved to issue 1,212,165 consideration shares to the sellers at a price of NOK 20.65 per share as partial settlement of the transaction. The resolution is based on the authorization to increase the share capital granted by the Company’s general meeting on 4 May 2021.

Following registration of the share capital increase in the Norwegian Register of Business Enterprises, the Company’s share capital will be NOK 5,845,930.20 divided into 58,459,302 shares each with a par value of NOK 0.10.

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 carefully selected niches. The company’s business is structured to address its key markets; Oceans is offering tailored technology solutions to global maritime markets, Intelligent Traffic Systems (ITS) is offering connectivity solutions for vehicle identification and tracking, and Product Innovation and Realization (PIR) is offering R&D services and contract manufacturing to key customers.

NORBIT is headquartered in Trondheim, Norway, with manufacturing facilities in Selbu and Røros, Norway and 15 offices and subsidiaries around the world.

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