Kongsberg Automotive

Earnings Release • Nov 7, 2023

KONGSBERG AUTOMOTIVE'S Q3 SALES REPORT

As reported in Kongsberg Automotive (KA)'s quarterly results, Q3 2023 proved to be another successful quarter for new business wins. KA won new orders with lifetime sales worth approximately EUR 207 million.

KA is pleased to provide further information on some of the reported new business wins in Q3.

These awards are wins for KA's entire portfolio and are in line with our expectations.

FOLLOWING ARE THE HIGHLIGHTS FROM Q3 REFERENCED IN ESTIMATED LIFETIME REVENUES:

• > KA's Aftermarket sales segment, that spans all our business units, booked sales worth approximately EUR 15 million, primarily in the Europe, the Middle East, and Africa (EMEA) region
• > The Industrial sales segment that is a part of the Flow Control Systems (FCS) business unit (under the Specialty Products business segment) booked sales worth approximately EUR 9 million. The awards include new products including Ulti-Pure and Ulti-Flex. The awards are centered regionally in North America and EMEA
• > Within KA's Truck & Bus sales segment the company booked sales of EUR 156 million. Highlights include:
• » Business award from China worth EUR 73 million for our innovative Dog Clutch Actuator that will be used on E Axles for Commercial Vehicles.
• » Award totaling approximately EUR 40 million was a contract extension for our Gear Control unit to one of North America's premier suppliers of gear boxes for heavy trucks
• » Over EUR 14 million of technical hose assembly awards including our unique Fluoro-Comp® product from a variety of both EU and North American OEM's
• » Our ABC Coupling product continues to grow with EUR 8 million of awards in the quarter, this included a EUR 6 million win from a key distributor in Africa
• > KA's Passenger Car segment booked EUR 14 million of sales with highlights including:

• » EUR 6 million of our ARC Actuators product to a premium Korean OEM

• » EUR 6 million of technical PTFE hoses were awarded for fuel and seat comfort applications again including the unique Fluoro-Comp®

• > KA's Agriculture & Construction and new Growth markets won EUR 13 million in sales, highlights include:
• › EUR 4 million of new sales for our Electronic Pedals for an Off-Road vehicle manufacturer vehicle manufacturer
• › EUR 5 million from a Mining vehicle manufacturer for our Gear Shift Server and Shift Lever products

"We are both delighted and grateful that our customers continue to place their trust in KA products. As evident from the update, KA continues to have a healthy blend of both new and existing products, and we continue to grow aggressively in the Truck & Bus segment," says David Redfearn, KA's Chief Sales officer.

"As for Q4 we have a very healthy pipeline of sales opportunities. Due to the customers sourcing behavior certain key awards could move in to 2024 but we feel confident that Q4 will be at least as strong as Q3 with the potential for upside," adds Redfearn

More details on how KA communicates new business wins will be provided during the Q3 presentation and upcoming Breakfast Meeting with KA's interim President & CEO.