Kongsberg Gruppen

Investor Presentation • Apr 30, 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

Quarterly highlights

• Continued growth across all business areas
  • Ranging from 16% to 40%
• High market activity throughout the company
  • Book/bill >1 in all business areas
  • Strong positions driven by major trends related to sustainability and security
• NOK 90.2bn record-high order backlog
• New long term defence plan proposed in Norway

See Statement of Proprietary information

Business update | Kongsberg Maritime

• NOK 6.2bn order intake and 1.14 book/bill
• Diversified distribution of new orders
• High aftermarket activity driven by upgrades and re-activation of vessels
• Regulations and increased fleet age fuels demand

Order intake (NOK bn) Order backlog distribution

Business update | Kongsberg Defence & Aerospace

• NOK 5.2bn order intake and book/bill 1.06
• NOK 65.7bn record-high order backlog
• Continued global tension highlights importance of security

Major orders secured in the quarter:

• BNOK 1.4 NASAMS-contract with Norwegian Defence Materiel Agency
• BNOK 1.2 PROTECTOR RWS-contract with Patria for delivery to Sweden and Finland

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

Order backlog distribution

Business update | Kongsberg Discovery

• NOK 1.2bn order intake and 1.10 book/bill
• Strong demand for advanced sensors
  • Mapping and positioning systems drove growth in Q1
• HUGIN Endurance delivered to customer

Order intake (NOK bn)

See Statement of Proprietary information

Business update | Kongsberg Digital

• Continued roll-out of digital twins and onboarding of new users on existing solutions
• 44 digital twins in operation
• Vessel Insight sold to various segments

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.

Revenue

(NOK bn)

KONGSBERG

Kongsberg Maritime Kongsberg Defence & Aerospace

Recurring revenue

Kongsberg Discovery Kongsberg Digital

Q1 23 Q2 23 Q3 23 Q4 23 Q1 24

Kongsberg Maritime

Kongsberg Discovery

Cash flow development 1.1 - 31.3

(NOK bn)

Associated companies

85 168 168 312 103 -3 ^{7 23 42} 1 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 56 27 38 155 (12) *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.

Revenue (EURm) EBIT (EURm)

NOK 5.7bn in order backlog EUR 2.1bn in order backlog

Outlook

• Ongoing marketing, tendering and negotiations related to multiple programs
• Building capacity for the future
• Strong demand for especially missiles and air defence

• Unique position towards the ongoing maritime
• transformation
• Continued high activity in aftermarket
• Record-high backlog

• 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 90.2bn in order backlog, whereof NOK 24.1bn is for delivery in 2024

Welcome to our Capital Markets Day 2024

KONGSBERG would like to invite you to our Capital Markets Day on Tuesday 4 June 2024 from 10:00 to 14:00

The event will take place in Kongsberg

Please register on www.Kongsberg.com by Friday 31 May

See Statement of Proprietary information

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.