Kongsberg Automotive

Investor Presentation • Nov 9, 2023

BREAKFAST MEETING NOVEMBER 9, 2023

FORWARD-LOOKING STATEMENTS AND NON-IFRS MEASURES

FORWARD-LOOKING STATEMENTS

This presentation contains certain "forward-looking statements". These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this presentation include statements addressing our future financial condition and operating results. Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, business, economic, competitive and regulatory risks, such as conditions affecting demand for products, particularly in the automotive industries; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we operate; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation. More detailed information about these and other factors is set forth in the 2021 Kongsberg Automotive Annual Report and the Kongsberg Automotive Quarterly Reports.

NON-IFRS MEASURES

Where we have used non-IFRS financial measures, reconciliations to the most comparable IFRS measure are provided, along with a disclosure on the usefulness of the non-IFRS measure, in this presentation.

KA'S EXTERNAL ACTIVITIES

IR POLICY

PURPOSE

KA seeks to engage in an open and continuous dialogue with the financial market.

The company's Investor Relations (IR) Policy covers guidelines for the company's contact with shareholders and the financial community.

This policy can be found here.

All our shareholders are requested to send their enquiries to KA`s single point of contact:

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

KONGSBERG AUTOMOTIVE // 4

TODAY'S PRESENTERS

Q&A SESSION

• PRODUCT UPDATE
• COMMUNICATIONS UPDATE
• FINANCIAL UPDATE

KA IN BRIEF

KA IN BRIEF

KONGSBERG AUTOMOTIVE // 7

AT A GLANCE KA in brief

ESTABLISHED GLOBAL AUTOMOTIVE SUPPLIER

with a strong focus on commercial vehicles, expertise in off-highway segment, and non-automotive industry.

INNOVATING AND DELIVERING TOP-NOTCH PRODUCTS WHEREVER WE OPERATE

Kongsberg Automotive follows state of the art innovation processes to meet customer needs better and quicker than most in the industry.

MINIMIZING THE ENVIRONMENTAL IMPACT

we aim to design greener and safer products, and work with supply chains to help them be more sustainable and responsible.

AT A GLANCE KA in brief

VISION AND MISSION KA in brief

VISION

WE DRIVE THE GLOBAL TRANSITION TO SUSTAINABLE MOBILITY

MISSION

ON OUR PATH TO BECOMING A TRUE GLOBAL LEADER, WE PUT ENGINEERING, SUSTAINABILITY, AND INNOVATION INTO PRACTICE.

We seek to constantly improve our products, leverage our experience in cutting-edge engineering and widen our scope to find new solutions and technologies that make mobility safer and cleaner.

Our ambition is to be second to none in all we do. This is how we unlock growth potential and create substantial value for our customers, our employees, and shareholders.

We take responsibility as a strong global team. We are committed to making a difference by developing our skillset and delivering excellent products.

MADE IN NORWAY KA in brief

OVER 65 YEARS OF ENGINEERING EXCELLENCE

1987 KONGSBERG AUTOMOTIVE IS ESTABLISHED

1995 LISTED ON OSLO STOCK EXCHANGE

2008

ACQUISITION OF TELEFLEX GMS (SYSTEMS FOR GEAR SHIFT, SEAT COMFORT, AND FLUID SYSTEMS)

1957 KONGSBERG VÅPENFABRIKK STARTS PRODUCTION OF BRAKES FOR VOLVO TRUCKS

2004 ACQUISITION OF COUPLINGS PRODUCER RAUFOSS UNITED

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$$

2021 LAUNCH OF SHIFT GEAR TRANSFORMATION PROGRAM

KA in brief

FOCUS ON ELECTRIC COMMERCIAL VEHICLES

KEY PRODUCTS

STEER BY WIRE ACTUATORS

AIR BRAKE SYSTEMS

KA in brief

FOCUS ON OFF-HIGHWAY VEHICLES

KEY PRODUCTS

FOCUS ON ELECTRIC PASSENGER CARS KA in brief

KEY PRODUCTS

ELECTRIC ACTUATORS

STEER BY WIRE ACTUATORS

THERMAL MANAGEMENT SYSTEMS

KA in brief

FOCUS ON INDUSTRIAL APPLICATIONS

OUR CUSTOMERS KA in brief

KA in brief

WE ARE A GLOBAL PROVIDER SERVING OUR CUSTOMERS LOCALLY

We leverage our local position at global OEMs to create and win new business opportunities on all continents.

"Glocalization" focus (globalization and localization)

Covid triggered supply chain disruptions resulting in a higher focus on local sourcing

Positive impact on sustainability and our set targets

STRATEGIC REVIEW

KONGSBERG AUTOMOTIVE // 18

Strategic review

STRATEGIC REVIEW OVERVIEW

FORMER BOARD OF DIRECTORS AND FORMER CEO/MANAGEMENT INITATED BY:

• MARCH 2023 INITATED IN:
• ROTHSCHILD AND ABG SUNDAL COLLIER (STRUCTURAL CONSIDERATIONS) ADVISORS:
• > EVALUATE OPTIONS TO MAXIMIZE FUTURE SHAREHOLDER VALUE PURPOSE:
  • > UNLOCK THE FULL POTENTIAL OF KA BEYOND THE CURRENT PERFORMANCE
  • > RIGHTSIZING, IMPROVING ORGANIZATIONAL AND OPERATIONAL EFFICIENCY

Strategic review

TIMELINE STRATEGIC REVIEW MARCH - NOVEMBER

MARCH - OCTOBER 2023 DISCUSSIONS AND ACTIVITIES ON KA'S STRATEGIC REVIEW CONTINUED WITH ROTHSCHILD AND ABG SUNDAL COLLIER

CONCLUSIONS

THE BOARD OF DIRECTORS AND KA MANAGEMENT ARRIVED AT THE FOLLOWING CONCLUSIONS:

• > Retaining and developing the current activities would create the highest value for KA and its shareholders
• > Focus on growth areas where KA is well-positioned
• > Focus on the next year's main effort on regaining acceptable levels of profitability and securing a positive cash flow
• > Continue to explore options for mitigating the earnings pressure deriving from the business units in the declining segments
• > Allow for bolt-on acquisitions in the coming year, so KA can strengthen businesses in areas where the company is well-positioned

KA'S BOARD OF DIRECTORS AND MANAGEMENT HAVE DECIDED TO CONCLUDE THE STRUCTURAL CONSIDERATION OF THE STRATEGIC REVIEW.

Strategic review

KA'S SECOND INVESTMENT INTO AUTONOMOUS DRIVING TECHNOLOGY

• > KA has acquired innovative patents from Romoline, for camera cleaners, developed in Norway
• > This is KA's second investment into a technology that will be used in autonomous driving and is also used in present day vehicles
• > Unlike traditional nozzle cleaners, this technology uses less fluid and sprays away from the camera lens leading to optimal cleaning. The product's intention is to improve functionality, quality, environmental impact, customer satisfaction, and cost of use
• > Next steps for KA to expand in this product area will be to develop the product into complete systems and sensor cleaning solutions
• > KA expects revenues in a 2-3 years time frame

With this acquisition, KA now directly and indirectly controls 28 patents for technologies relevant to autonomous vehicles.

Strategic review

KA ACQUIRES SKRIVERFORM

• > On November 8, 2023, KA signed an agreement to purchase 100% of the share capital of Skriverform AS
• > Skriverform is based in Norway and designs and manufactures tools for injection molding (IM)
• > The acquisition is motivated by KA's desire to achieve vertical integration and gain a better control of our supply chain
• > With this acquisition, KA's can streamline operations and optimize efficiency benefiting KA' s bottom line, and the company's customers
• > 12 highly skilled employees who are experts on IM will join KA

FINANCIAL UPDATE FRANK HEFFTER

KONGSBERG AUTOMOTIVE // 24

EXECUTIVE SUMMARY – Q3 2023

STABLE REVENUES AND STRONG EARNINGS CASH FLOW DEVELOPMENT IMPACTED BY NWC INCREASE

€220.6M REVENUES	€14.3M ADJ. EBIT	€-13.4M FREE CASH FLOW
Decrease of 10.3% vs. Q3 2022	Increase by MEUR 1.4 vs. Q3 2022	Decrease from the FCF of MEUR -1.4 in Q3 2022
1.4x LEVERAGE RATIO1,2	€89.2M 4 NIBD	€207.1M NEW BUSINESS3
Improved from 2.0x in Q3 2022	Improved from MEUR 132.6 as of 30/09/2022	Increase from MEUR 128.9 in Q3 2022

¹ Includes IFRS 16; excluding IFRS 16, leverage ratio is equal to 0.6x in Q3 2023 compared to 1.1x in Q3 2022

² NIBD / Adjusted EBITDA (LTM)

³ Lifetime revenue of business wins during the quarter

⁴ Net Interest-Bearing Debt

REVENUES

> Excluding revenues of MEUR 40.2 divested to BRP from Q3 2022, quarterly revenues grew by 14.8% at constant currency rates

ADJUSTED EBIT

• > Supported by positive operational effects of MEUR 5.7, partly related to retroactive price increases and one-time compensations from customers
• > In Q3 2022, the divested business to BRP amounted to MEUR 12.6

FREE CASH FLOW

> Impacted by increase in NWC to support future growth and to facilitate footprint optimization

LEVERAGE RATIO / NIBD

> Improved due to the proceeds received from the divestment to BRP in Q4 2022

NEW BUSINESS WINS

> Significant increase especially due to substantial contracts being awarded to P&C

NEW BUSINESS WINS Q3 LIFETIME REVENUES, MEUR

BOOK-TO-BILL MAINTAINING STABLE BOOK TO BILL RATIO TARGET RATIO ABOVE 1 FOR FY2023

BOOK-TO-BILL PERFORMANCE, MEUR

1. Lifetime sales assumptions are based on IHS and LMC production estimates at the time of the booking

REVENUES SOLID REVENUES DRIVEN BY SEASONALITY AND EXTRAORDINARY ITEMS

REVENUES (continuing operations), MEUR

Quarterly revenues in 2023 include significant negative translation effects. On the current currency basis, quarterly revenues are as follows:

• Q1 2023: MEUR 226 (positive translation effects of MEUR 3)
• Q2 2023: MEUR 235 (negative translation effects of MEUR 10)
• Q3 2023: MEUR 236 (negative translation effects of MEUR 15)

ADJUSTED EBIT POSITIVE EARNINGS PARTIALLY DRIVEN BY OPERATIONAL ONE-TIME EFFECTS

Financial update

ADJUSTED EBIT BRIDGE POSITIVELY DRIVEN BY ONE-TIME EFFECTS NEGATIVELY IMPACTED BY UNFAVOURABLE REGIONAL PRODUCT MIX REVENUE AND ADJUSTED EBIT BRIDGE

+13.2 +12.9 -40.2 +4.3 -15.6 220.6 246.0 205.8 REVENUES (continuing operations), MEUR

ADJUSTED EBIT (continuing operations), MEUR

P&C

• > Sales in Europe and the Americas increased by MEUR 12.2; adj. EBIT grew by MEUR 9.0. This was mainly driven by the positive one-time effects of MEUR 4.0, predominantly related to one-time reimbursements from customers and release of provision for customer claims
• > Sales and adj. EBIT in APAC (excl. China) grew by MEUR 1.0 and MEUR 0.4, respectively
• > Sales in China increased by MEUR 4.3, and adj. EBIT increased by MEUR 1.5, mainly in the commercial vehicles market

SPP

• > Sales of FCS grew by MEUR 8.6; adj. EBIT decreased by MEUR 0.3, mainly due to less favorable product mix in the fluid transfer systems business
• > Excluding the sales from the business divested to BRP (MEUR 40.2 with adj. EBIT of MEUR 12.6), OFH sales grew by MEUR 4.3, of which MEUR 1.7 related to retroactive price increases and one-time reimbursements from customers

POWERTRAIN & CHASSIS BUSINESS SEGMENTS UPDATE

Q3 2023

• > Growing business in the commercial vehicles market in all regions (Europe, the Americas and China) with relatively low margins
• > Declining sales in the Chinese and European passenger car markets were positively offset by the growing sales in the passenger car market in the Americas
• > One-time net effects of MEUR 4.0 positively contributed to the adj. EBIT, mainly related to retroactive price increase, one-time reimbursements from customers, release of provision for customer claims, and others

SPECIALTY PRODUCTS BUSINESS SEGMENTS UPDATE

ADJUSTED EBIT MARGIN, % ADJUSTED EBIT, MEUR

Q3 2023

Decline Quarter over Quarter was mainly attributable to:

• > Less favorable product mix
• > Lost earnings related to the business divested to BRP (Q3 2022 at MEUR 12.6 including the reimbursement of MEUR 8.2 for spot-buy costs incurred in prior periods)
• > In Q3 2023, adjusted EBIT benefitted from retroactive price increases and one-time reimbursements from customers of MEUR 1.7

Financial update

NET INCOME BRIDGE HIGHER TAX EXPENSE OFFSET POSITIVE DEVELOPMENT

NET INCOME (continuing operations), MEUR

NET INTERESTS AND OTHER FINANCIAL ITEMS

• > Net interests remained stable compared to Q3 2022
• > Other financial items in Q3 2023 include the change in expenses related to the securitization of MEUR 0.1 and other financial items of MEUR 0.3

CURRENCY GAINS

• > Currency gains amounted to MEUR 5.6 in Q3 2023 vs. MEUR 3.5 in Q3 2022
• > Currency translation effects are made up of realized currency loss of MEUR 0.1 and unrealized currency gains of MEUR 5.7 in Q3 2023 (Q3 2022: realized gains of MEUR 1.6 and unrealized gains of MEUR 1.9)

TAX

> Change in tax expenses was predominantly impacted by the losses considered not to be usable in the foreseeable future and therefore not capitalizable as DTA in Q3 2023 as well as prior year tax effects

FREE CASH FLOW DECLINE IN FREE CASH FLOW DUE TO NWC INCREASE

FREE CASH FLOW1 , MEUR

1. Free Cash Flow is measured based on sum of cash flow from operating activities, investing activities, financial activities and currency effects on cash (together described as change in cash), excluding net draw-down/repayment of debt and proceeds received from capital increase/purchase of treasury shares.

Financial update

LIQUIDITY DEVELOPMENT

Financial update

FINANCIAL RATIOS

CONTINUING AND DISCONTINUED OPERATIONS

1.2 -0.3 0.4 0.3 0.6 2.0 0.9 1.3 1.3 1.4 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023

EQUITY RATIO, % 39.2 38.5 37.0 34.5 35.9 35.2 36.4 33.9 31.7 33.4 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023

1. Adjusted EBITDA refers to continuing operation only 2.Excluding restructuring costs 3. Net interest-bearing debt 3.Capital employed at quarter end; as the indices are calculated based on the figures from last 12 months

EXCLUDING IFRS16 INCL. IFRS 16 EFFECT Outlook

ON TRACK TO DELIVER ON GUIDANCE

Based on YTD Q3 2023, KA maintains the full year 2023 guidance for both revenues and adjusted EBIT.

KONGSBERG AUTOMOTIVE // 37 KONGSBERG AUTOMOTIVE // 37

COMMUNICATIONS UPDATE THERESE SKURDAL

KONGSBERG AUTOMOTIVE // 38

EXTERNAL COMMUNICATION

EXTERNAL COMMUNICATION CHANNELS

OSE ANNOUNCEMENTS

LEGAL CONSIDERATIONS

Service Service
Service Service

While publishing news, we have to consider:

• > As a stock listed company, we are obliged to follow the Oslo Stock Exchange regulations
• > Not disclosing customer names, volumes this is based on contractual obligations
• > Not disclosing information on new/ patented technology to keep to patents and ensuring that competitors are not alerted

KA ensures that the flow of information from the company is factual and not misleading. The information should not be seen as an attempt to manipulate the market.

Information flow from listed companies are monitored by the Financial Supervisory Authority. Any violations to the regulations are subject to penalty - hefty fines, as well as reputational risk.

EXTERNAL COMMUNICATION CHANNELS

SOCIAL MEDIA

• > Spread news and information
• > Engage and inform about company's products, initiatives, and other positive stories
• > Share small and big wins from all our locations and create brand awareness
• > Engage with our employees and attract new talent
• > Target posts to engage better with the selected audiences, generating new leads/ sales
• > Showcase our products to partners, suppliers, customers and investors
• > Educate about our products

NEW MEASURES

PROCESS FOR NEW BUSINESS WINS ANNOUNCEMENTS

THRESHOLD FOR OSE REGULATORY ANNOUNCEMENTS

FINANCIAL:

EUR 3 MILLION ANNUAL REVENUE

OTHER:

NEW PRODUCT OR OTHER INNOVATIVE TECHNOLOGY QUARTERLY

QUARTERLY SALES REPORT TO BE PUBLISHED TOGETHER WITH THE QUARTERLY PRESENTATION

FURTHER DETAILS IN THE QUARTERLY PRESENTATION COMMUNICATION

• OSE ANNOUNCEMENT

• SOCIAL MEDIA POST

• PRESS RELEASE TRANSLATED IN NORWEGIAN

• ADDITIONAL VISUALS

MARKETING ACTIVATION ON SOCIAL MEDIA

We add variety to the content mix with product-oriented posts, targeting different stakeholder groups.

We create engaging stories with definite call to action to generate new business leads.

We tell our stakeholders about the technologies and innovations developed at KA.

ENGAGEMENT

MEDIA ACTIVITIES

Stay ahead by distributing the press package and have a touchpoint with journalists when news is announced

Focus on sharing news about our products and our achievements in local and national media

MEDIA COVERAGE FROM ROMOLINE ACQUISITION

INTEGRATING SOCIAL MEDIA FEED TO OUR WEBSITE

PRODUCT UPDATE CHRISTIAN AMSEL

KONGSBERG AUTOMOTIVE // 54

Product Update

DRIVER FOR THE AUTOMOTIVE TRANSFORMATION

MAIN STRATEGIC AREAS OF FOCUS FOR THE AUTOMOTIVE INDUSTRY

Product Update

DRIVER FOR THE AUTOMOTIVE TRANSFORMATION

Product Update

SHARED

TRANSFORMATION OF THE AUTOMOTIVE SECTOR IS HAPPENING EVERYWHERE, BUT AT DIFFERENT SPEEDS

• > Vehicle advanced connectivity (3G/4G) is advancing quickly, 5G expected uptake with Automated Driving (AD)
• > OEMs have reached a critical size and provide global services
• > Rise of e-mobility drives demand for further digital services
• > AD is moving from trial to commercial modes
• > Mercedes with first hand-off autobahn pilot (L3) in production
• > Waymo and Cruise with first licenses in San Francisco for Robotaxi
• > AD legislation evolving very differently across regions
• > Shared modes beyond vehicle ownership are expected to grow in the long term.
• > Autonomous Driving will be a boost.
• > E-mobility in EU driven by regulation, ICE ban by 2035; China, the US provide incentives to promote sales and local production, no ICE ban
• > Charging infrastructure evolves differently but a bottle neck rurally

AS A PART OF OUR PORTFOLIO MODERNIZATION, WE MADE A STRUCTURED ASSESSMENT OF DIFFERENT SEGMENTS

• Innovation involves uncertainty we are managing our risks using a structured methodology, ensuring a cost-efficient development processes

• We have identified areas where there will be: » High margin potential

• » Good fit to our existing technology, production and customer base
• » High degree of technical change

• Major disruptions act as door openers for suppliers to access new clients and segments

0 DRIVER No driving automation

1 FEET OFF Driver assistance

2

3

HANDS OFF Partial driving automation

EYES OFF Conditional autonomy

4 ATTENTION OFF High driving automation

> Electrical sensors and actuators are sensitive to cyber attacks and need to comply with cybersecurity legislation. Cybersecurity will be mandatory as part of homologation of vehicles

> Optical sensors are sensitive to environmental influences like dirt, dust, snow etc., which reduces or loses its functionality causing the AD vehicle to stop driving

> Steering and braking systems need to be upgraded to provide full redundancy. This secures steering and braking functionality even after severe system or vehicle fault

KA PROVIDES ENABLING TECHNOLOGY FOR AUTONOMOUS DRIVING AND WILL PROVIDE MODULAR PLATFORMS TO SCALE THE TECHNOLOGY TO DIFFERENT MARKETS

For example:

• > First to market to comply with cybersecurity and functional safety (ASIL-C) standards in truck segment (100% in-house development)
• > Provide Steer-by-Wire technology platform with fail operational performance in the event of severe system or vehicle fault
• > Introduce Camera Washer technology to secure proper cleaning of camera lenses to eliminate dirt and improve availability of camera functions even under bad weather conditions

CURRENT STATUS

• > KA signed an agreement to acquire 20% of Chassis Autonomy on July 19, 2023
• > Chassis Autonomy specializes in design and development of steer-by-wire and brake-by-wire systems for use in highly automated (L3) and fully autonomous (L4 and L5) vehicles
• > Competitive advantage both in terms of technology and time
• > 5 customers already working with us on advanced development projects and business case evaluations
• > Similarities and synergies with our ECA product technologies and know-how that can be used to further develop the steer-bywire actuators

KEY BENEFITS

• > Modular product family for passenger cars (10-17,5kN) and people movers (17,5-22kN)
• > Fail operational performance in the event of severe system or vehicle fault
• > Dynamic performance even in fail operational mode

CURRENT STATUS

• > Can be used for most cars and trucks, but availability of cameras even more important in AD vehicles
• > Next steps for KA to expand in this product area will be to develop the product into complete systems and sensor cleaning solutions
• > KA expects revenues in a 2-3 years time frame

KEY BENEFITS

• > Best cost – benefit ratio
• > Minimized package to secure vehicle integration
• > Highly efficient system in terms of water consumption and cleaning performance

> Since 2020, the powertrain portfolio has moved from technology openness towards a BEV-centric powertrain portfolio.

> Plug-in hybrid and fuel cell vehicles have declined in significance.

TECHNOLOGICAL DEVELOPMENT UNTIL 2030

> Battery and cell chemistry are expected to be far from a commodity, but the key brand differentiator and competitive driver.

> Vehicle range, charging speeds and vehicle costs are key factors in the differentiation. Enhanced cooling allows brand differentiation in fastcharging solutions.

PLATFORM CHARACTERISTICS AND SPECIFICATIONS

> To meet differentiated customer needs, tailor-made product platforms need to be developed.

KA PROVIDES ENABLING TECHNOLOGY FOR E-MOBILITY AND WILL PROVIDE MODULAR PLATFORMS TO SCALE THE TECHNOLOGY TO DIFFERENT MARKETS

For example:

• > Focus on Electric Actuator Platforms for clutch and gear shift actuation systems in new electric powertrain applications of the future

• > Focus on Thermal Management Systems to enhance vehicle and battery cooling systems achieving longer lifetime of batteries, enhanced cooling for fast charging, higher efficiency and longer range

• > KA developed a scalable product platform of electric actuators. All products are developed 100% in-house (electronics, software, functional safety, cybersecurity).

• > The products meet the customer requirements for different drivetrain types (multi-speed e-axle, multi-speed central drive, e-axle for low floor applications like busses) and comply with functional safety and cybersecurity.
• > KA offers electric Dog Clutch Actuators as single and dual eDCA and received already the 1st nomination.

• > The electric Gear Shift Actuator (eGSA) is offering different kind of gear shift and decoupling features. KA delivered protypes to several global customers. Up to 3 actuators in one e-axle.

• > KA is among the top 3 market leaders providing efficient Air Brake Solutions for Trucks/Busses and Trailers as well as Cooling solutions for water and oil cooling systems.

• > We aim to deliver the world most sustainable, cost effective and advanced Thermal Management System for future powertrain platforms
• > KA is offering a scalable product family for electric and fuel cell powertrains covering all kind of cooling systems outside and inside of the battery. KA bas been nominated for selected applications and is involved in several prototype phases for future electric and fuel cell vehicles.

EXAMPLES OF COOLING SYSTEMS

• > Battery cooling inside and outside of batteries (25˚C)
• > Powertrain: E-axle or traditional e-motor and gear system (55˚C)
• > HVAC cooling loops (75˚C)
• > Fuel cell high temperature cooling loop

Product Update SUMMARY AND OUTLOOK

KA IS ON THE RIGHT TRACK AND IS PURSUING 2 DIRECTIONS:

• > Scaling of existing technology in all Business Units to current and emerging markets. We still see strong growth potential as all markets develop differently!
• > Offering new technology platforms to follow the Mega Trends in E-Mobilty and Autonomous Driving, KA is focusing on growth areas where KA is well-positioned and which fits well to KA's competencies. Allow for bolt-on acquisitions in the coming year, so KA can strengthen businesses in core areas.

MOBILITY SOLUTIONS FOR THE FUTURE