Norbit Group AS — M&A Activity 2026

May 6, 2026

NORBIT enters exclusive negotiations for an Oceans technology acquisition

NORBIT enters exclusive negotiations for an Oceans technology acquisition

Trondheim, 6 May 2026: NORBIT is in exclusive negotiations regarding an add-on

acquisition of an undisclosed Oceans-related technology company. The acquisition

will broaden the product offering in the Oceans segment. NORBIT has signed a

term sheet to this effect.

The acquisition target is well positioned as a supplier of tailored sensors to

underwater vehicles, benefiting from growing demand driven by defence and

security-related applications. The target has a strong fit to NORBIT's criteria

to accelerate growth through strategic acquisitions:

* Tailored technology to carefully selected applications

* A complementary product portfolio, providing diversification of revenues and

cash flow

* Positive synergies expected by combining the organisations, including market

and R&D efforts

* Cultural fit with a development-oriented organisation

Since 2020, the target company has reported an annual organic growth rate of 48

per cent and is expected to generate around NOK 100 million in revenues in 2026

with an EBITDA margin* in the range of 25-30 per cent, excluding any synergies

by combining forces with NORBIT.

"We are excited about this opportunity and see a good fit with our strategy to

broaden and complement NORBIT's Oceans product offering. Subject to a positive

outcome of the due diligence process, we look forward to welcoming a new Ocean

Tech company into the NORBIT family, enhancing our offering and enabling us to

deliver more complete solutions to our OEM customers", says Per Jørgen

Weisethaunet, CEO of NORBIT.

A preliminary transaction price has been agreed, valuing the target company on a

cash and debt-free basis of NOK 330 million assuming normalized working capital.

If completed, the acquisition is expected to be financed with new credit lines.

The completion of the transaction is subject to due diligence and the parties

entering into a binding agreement for the acquisition. Signing and closing of

the transaction are targeted to end of June.

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 and North America, has around 700 employees, and a

worldwide sales and distribution platform.

For more information: www.norbit.com (http://www.norbit.com)

This stock exchange release contains inside information as defined in the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to section 5-12 of the Securities Trading Act.

The information was submitted for publication by Elise Heidenreich, Investor

Relations, at NORBIT ASA, on 6 May 2026 at 12:20 CEST.

* EBITDA as a percentage of revenues, based on IFRS 16. EBITDA is short for

earnings before interest, tax, depreciation and amortisation.