Kongsberg Automotive

Kongsberg Actuation Systems BV issued an Asset Disposition Offer for part of notes due 2025

Zurich, April 26, 2024: Kongsberg Actuation Systems BV, a subsidiary of

Kongsberg Automotive ASA (KA), today published an Asset Disposition Offer to

purchase for cash Euro 36,000,000 of outstanding principal amount of its senior

secured notes due 2025 ("Notes").

KA has determined that Euro 36,000,000 of the Net Available Cash from the sale of:

(i) The Interior Comfort Systems business unit to Lear Corporation,

(ii) The Light-Duty Cables business unit to Suprajit Engineering Limited and

(iii) A part of Kongsberg Automotive's operations in Shawinigan, Canada to BRP

constitutes "Excess Proceeds" under the indenture dated July 23, 2018 (the

"Indenture") - which requires that KA issues an Asset Disposition Offer. The

"Asset Disposition Offer Amount" shall be Euro 36,000,000.

The Asset Disposition Offer will expire at 16:00 GMT on May 28, 2024. Any Note

not tendered or accepted for payment will continue to accrue interest.

If the aggregate principal amount of Notes surrendered by holders thereof

exceeds the Asset Disposition Offer Amount, the Issuer will select the Notes to

be purchased on a pro rata basis based on the principal amount of Notes

surrendered.

Further information is published in the "NOTICE OF ASSET DISPOSITION OFFER".

Copies thereof can be obtained from:

The Bank of New York Mellon, London Branch

One Canada Square

London, E14 5AL

United Kingdom

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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