Kongsberg Automotive

Linda Nyquist-Evenrud appointed interim CEO of Kongsberg Automotive

Zurich, July 24, 2023: The Board of Directors of Kongsberg Automotive ASA (KA)

has appointed Linda Nyquist-Evenrud as interim President & Chief Executive

Officer (CEO) effective July 25, 2023.

"I am very pleased to announce Linda Nyquist-Evenrud as the new interim CEO of

KA. Linda has extensive experience from her 15 years of service at KA. She is an

automotive industry insider who has consistently delivered impressive results

for the company, including the successful merger of two of our most promising

business units. In addition, Linda is a recognized team builder with a great

standing among our customers and employees. The Board of Directors deems these

qualities instrumental in leading the company forward in connection with its

ongoing strategic review", says Firas Abi-Nassif, Chair of the Board of

Directors of KA.

Linda comes from the position as Executive Vice President of KA's Flow Control

Systems (FCS) business unit and is part of the Executive Management. She brings

more than 19 years of experience in the automotive industry, starting at KA as

Sales Manager for Raufoss Couplings in 2008, advancing to Senior Vice President

of the Couplings business unit in January 2017. In September 2022, Linda was

appointed the Executive Vice President FCS.

"I appreciate the trust given to me by the Board of Directors, and I am pleased

to accept the opportunity of serving KA in a new role as the interim President &

CEO. Going forward, our main priorities will be to complete the ongoing

strategic review combined with increasing profitability to position our company

for future shareholder value creation. KA has a strong and promising product

portfolio, a unique customer base and a team of over 5,500 highly experienced

and competent colleagues ready to work hard for all our stakeholders," says

Linda.

Linda succeeds Joerg Buchheim who was appointed President & CEO of KA in January

KA will publish its second quarter 2023 financial results August 8, 2023, at

08:00 (CET).

Investor Relations & Media contact:

Mads Langaard - Head of IR

+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)

AI Terminal