Kongsberg Automotive

Kongsberg Automotive wins contract extensions worth EUR 147 million in estimated lifetime revenue

Zurich, January 18, 2024: Kongsberg Automotive (KA)'s Vehicle Dynamics portfolio

has been awarded contract extensions worth EUR 147 million in estimated lifetime

revenue. These three-year contracts start in 2024 and are awarded to KA by a

leading global manufacturer of commercial vehicles.

The contracts are for:

1. V-stay (Rear Axle Suspension): It is one of the main parts of the

suspension, essential to control the axle, enhance safety, and ensure driving

comfort and is assembled between the axle and chassis.

The award is worth EUR 76 million in estimated lifetime revenue. KA's Koluszki

plant in Poland will produce and deliver the product.

2. Rear Axle Anti-Roll Bar: It stabilizes the truck, increases safety, and

guarantees driving comfort. Assembled between the chassis and axle-it controls

forces and avoids unwanted movement.

The award is worth EUR 71 million in estimated lifetime revenue. KA's

Hvittingfoss, Norway plant will manufacture and supply the product.

"We are delighted to announce these important contract extensions with one of

our largest global customers," says David Redfearn, KA's Chief Sales Officer,

adding, "This is a clear sign that our quality, technology, and operational

footprint is valued by our customer base and is foundational to our future

growth plans".

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 (http://www.kongsbergautomotive.com)

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