Kongsberg Automotive

Kongsberg Automotive secures major contract extension worth EUR 523 million in estimated lifetime revenue

Zurich, April 26, 2024: Kongsberg Automotive (KA) has won a contract extension

worth EUR 523 million in estimated lifetime revenue for KA's Gear Control Unit

(GCU) with integrated clutch actuator.

The GCU is a valve-based device designed for manual transmission trucks,

allowing them to be driven as automatic transmission trucks if desired. This

innovative technology enhances operator convenience by eliminating the need to

switch gears while preserving the fuel efficiency typical of manual

transmissions.

KA has been producing the GCU product for over seven years and the contract

renewal is awarded by a major global manufacturer of transmissions for heavy

-duty trucks. This five-year contract is a continuation of our existing business

that will extend until 2028. KA's plants in Nuevo Laredo, Mexico, and Wuxi,

China will produce and deliver the products.

"This contract extension underscores our position as a preferred long-term

partner for critical technical products that prioritize innovation, technology,

and customer support," says David Redfearn, KA's Chief Sales Officer.

"Our GCU with integrated clutch actuation is a world-class product that allows

for easy service with rapid and precise clutch actuation. Securing such a

significant contract extension is the ideal building block for the ambitions

that KA has within the actuation area, and it confirms our competitive position

in both North America and Asia," Redfearn adds.

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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