Kongsberg Automotive

Kongsberg Automotive to reestablish its headquarters in Norway

Zurich, May 12, 2024: Kongsberg Automotive's (KA) Board of Directors, along with

the CEO and Executive Management, have decided to operate the company out of

Kongsberg, Norway. Going forward, Kongsberg will be the headquarters for KA with

Zurich, Switzerland, serving as the company's financial center.

In 2017, KA centralized its business model with the intention of streamlining

business and decision processes in Zurich, Switzerland. In alignment with the

changes in the strategic business focus of KA, the Board of Directors, the CEO

and Executive Management, made an evaluation, which led to the decision to

reestablish Kongsberg as the headquarters.

This move supports KA's corporate identity, bringing the company back to where

it is publicly listed on the Oslo Stock Exchange. With this decision, KA moves

back to its origins that dates to 1957, strengthening its ties to two of KA's

main Tech Centers in Kongsberg and Raufoss as well as key production facilities

in Hvittingfoss and Raufoss.

As we refocus our strategic direction, KA is proud to return to its roots in

Kongsberg, Norway, reaffirming our commitment to our customers and other

stakeholders, strengthening our ties to our identity and culture," says Linda

Nyquist-Evenrud, President & CEO.

Media and communications contact:

Therese Sjöborg Skurdal - Director Corporate Communications

+47 982 14 059

Investor Relations contact:

Mads Langaard - Head of Investor Relations

+47 905 81 264

About Kongsberg Automotive ASA

Kongsberg Automotive provides cutting-edge technology to the global vehicle

industry. We drive the global transition to sustainable mobility by putting

engineering, sustainability, and innovation into practice. Our product portfolio

includes driver and motion control systems, fluid assemblies, and industrial

driver interface products. Find more information

at:?kongsbergautomotive.com (https://www.kongsbergautomotive.com/)

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