Toll4Europe GmbH and NORBIT ASA Announce the Development of a New Innovative GNSS and DSRC Hybrid OBU Made in Norway

Toll4Europe GmbH and NORBIT ASA Announce the Development of a New Innovative GNSS and DSRC Hybrid OBU Made in Norway

Issuer

NORBIT ASA

Munich, Germany, and Trondheim, Norway, 29 July 2024: Toll4Europe GmbH and
NORBIT ASA are proud to jointly announce the development of a new innovative
GNSS and DSRC Hybrid On-Board Unit (OBU). This advanced OBU, designed for easy
installation and intuitive operation, marks a significant enhancement for users
seeking seamless and efficient tolling solutions. The product will be fully made
in Norway at NORBIT's factory in Røros and available to Toll4Europe's customers
starting mid of 2025.

Dr. Felix Wex, CEO of Toll4Europe GmbH, said, "Partnering with NORBIT to bring
this innovative GNSS and DSRC Hybrid OBU to the market is a significant step
forward in our mission to provide seamless and efficient tolling services across
Europe. This collaboration will not only benefit our Sales Partners but also
improve the overall user experience. Our vision is to integrate sophisticated
technology with user-oriented mobility services, making life easier for our
customers and enhancing business efficiency."

Per Jørgen Weisethaunet, CEO of NORBIT ASA, added, "We are proud to have the
opportunity to work for one of Europe's leading EETS operators and will work
hard to ensure that this new product aligns with our vision to be recognized as
world-class. Toll4Europe's unique insights into the daily lives and needs of
users help us tailor a GNSS OBU that is user-friendly, which will simplify
operations both for Toll4Europe's partners and their end-users."

This announcement follows NORBIT's earlier announcement on 16 April 2024, where
they disclosed that the Connectivity segment received an order from a new
undisclosed European customer for the delivery of On-Board Units valued at
approximately NOK 160 million, with deliveries scheduled for 2025.

About Toll4Europe GmbH

Toll4Europe GmbH is a leading European Electronic Toll Service (EETS) provider.
Their vision is to offer seamless, cross-border tolling services that integrate
advanced technology and digital intelligence. This approach aims to simplify
toll payments, enhance mobility, and reduce environmental impact, aligning with
their commitment to future-oriented mobility services. More information can be
found on https://toll4europe.eu

About NORBIT ASA
NORBIT is a global provider of tailored technology to selected applications.
Structured in three business segments; Oceans, Connectivity, and Product
Innovation & Realization (PIR). NORBIT supports its customers and partners in
solving demanding challenges through sustainable innovation. Headquartered in
Trondheim, Norway, with R&D and manufacturing facilities in Europe and North
America, NORBIT employs around 500 people and operates a worldwide sales and
distribution platform. For more information, visit https://norbit.com

For media inquiries, please contact:

- Dr. Felix Wex, CEO, Toll4Europe GmbH: [email protected]

- Per Jørgen Weisethaunet, CEO, NORBIT ASA: +47 959 62 915

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