Kongsberg Gruppen

Investor Presentation • Jul 10, 2024

Protechting people and planet

Geir Håøy, President & CEO Mette Toft Bjørgen, EVP & Group CFO

KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2024 KONGSBERG – All rights reserved.

Disclaimer

This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forwardlooking information and statements reflect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give assurance to the correctness of such information and statements. These forward-looking information and statements can generally be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology such as "targets", "believes", "expects", "aims", "assumes", "intends", "plans", "seeks", "will", "may", "anticipates", "would", "could", "continues", "estimate", "milestone" or other words of similar meaning and similar expressions or the negatives thereof.

By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company's actual financial condition or results of operations could differ materially from that or those described herein as anticipated, believed, estimated or expected.

Any forward-looking information or statements in this presentation speak only as at the date of this presentation. Except as required by the Oslo Stock Exchange rules or applicable law, the Company does not intend, and expressly disclaims any obligation or undertaking, to publicly update, correct or revise any of the information included in this presentation, including forward-looking information and statements, whether to reflect changes in the Company's expectations with regard thereto or as a result of new information, future events, changes in conditions or circumstances or otherwise on which any statement in this presentation is based.

Given the aforementioned uncertainties, prospective investors are cautioned not to place undue reliance on any of these forward-looking statements

Security and Sustainability - at the top of the global agenda

Highlights

• Continued growth in all business areas
  • Ranging from 8% to 28%
• High market activity throughout the company
  • Strong positions driven by major trends related to sustainability and security
• NOK 95.6bn record-high order backlog
• New missile factory opened

See Statement of Proprietary information

• New growth ambition 2033 – NOK 120bn

Business update | Kongsberg Maritime

• NOK 6.1bn order intake and 1.03 book/bill
• Well-diversified distribution of new orders
  • Naval significantly strong YoY
• High aftermarket activity driven by spares and upgrades
• Increased technology scope drives contract sizes

Order intake (NOK bn) Order backlog distribution

Business update | Kongsberg Defence & Aerospace

• NOK 10.3bn order intake and book/bill 2.32
• NOK 71.5bn record-high order backlog
• Development contract for Supersonic Strike Missile (3SM)
• Launch of National Manoeuvre Air Defence System (NOMADS)

Orders announced in the quarter:

• BNOK 2.3 (+BNOK 2.5 fixed price option) NASAMS-contract with Norwegian Defence Materiel Agency
• MEUR 410 NASAMS-contract with Spain
• Undefinitized Contract Action (UCA) with United States Air Force (USAF) for the Joint Strike Missile

Order backlog distribution

Business update | Kongsberg Discovery

• NOK 0.8bn order intake and 0.83 book/bill
• Strong demand from both commercial and governmental customers
• New HUGIN Superior contract

Order intake (NOK bn)

Order backlog (NOK bn) Order backlog distribution

Business update | Kongsberg Digital

• Growth driven by simulation business
• Increased number of Kognitwins in operation to 47
• Vessel Insight sold to various segments

Order intake (NOK bn) Order backlog (NOK bn) Order backlog distribution

See Statement of Proprietary information

Financial status

Mette Toft Bjørgen, EVP & Group CFO

KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2024 KONGSBERG – All rights reserved.

2024 – Year to date

• Order intake NOK 30bn
• Revenue NOK 23bn and EBIT NOK 2.91bn
• Strong and profitable growth

Revenue

(NOK bn)

KONGSBERG

Kongsberg Maritime Kongsberg Defence & Aerospace

Kongsberg Discovery Kongsberg Digital

15.1% 14.2%

Kongsberg Discovery Kongsberg Digital

Q2 23 Q3 23 Q4 23 Q1 24 Q2 24

Kongsberg Maritime

Kongsberg Discovery

Cash flow development 1.4 - 30.6

(NOK bn)

Associated companies

*Share of net income from Patria is recognized as follows during the quarters: Q1: Jan-Feb, Q2: Mar-May, Q3: Jun-Aug and Q4: Sep-Des. Quarterly split of revenues and EBIT are presented with the corresponding periodization.

NOK 5.4bn in order backlog EUR 2.3bn in order backlog

Outlook

• Continued marketing, tendering and negotiations related to multiple programs
• Ramping up missile capacity
• Particularly strong demand for missiles and air defence
• Kongsberg Maritime
• Front-runner in the maritime transformation and unique positions
• Persistent high activity in aftermarket
• Increased technology content on overall fleet drives demand

• Significant demand from areas such as fishery, marine research operations, energy, security and surveillance
• Solid backlog and strong positions in growing markets

• Continued increase in recurring revenues
• High sales activity and strong demand
• Continued investments in development and rollout

Solid balance sheet and NOK 95.6bn in order backlog, whereof NOK 18.8bn is for delivery in 2024

Protechting people and planet

KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2024 KONGSBERG – All rights reserved.