NORBIT - Enters into a NOK 80 million agreement for contract manufacturing

Trondheim, 8 June 2023: NORBIT is pleased to announce that segment PIR has entered into an agreement with an undisclosed Nordic customer for delivery of tailored electronics for data collection and transmission to the clients’ cloud solution. Deliveries are scheduled over a period of 30 months, and the agreement has an estimated value of approximately NOK 80 million over the said period.

"The collaboration with this client started with R&D services and industrialisation. With the client’s success in their core market, we are pleased to see that we can enable their industrial scalability from our Selbu factory”, 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 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 identification, monitoring and tracking. The Product Innovation & Realization segment offers R&D services, proprietary products, and contract manufacturing to key customers. NORBIT is headquartered in Trondheim with manufacturing in Europe, 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 8 June 2023 at 21:00 CEST.