Kongsberg Automotive

Capital/Financing Update • Apr 26, 2024

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 €36,000,000 of outstanding principal amount of its senior secured notes due 2025 ("Notes").

KA has determined that €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 €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

Investor Relations contact:

Mads Langaard – Head of Investor Relations mads.langaard@ka-group.com +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