12/07/2023 Investor presentation Q2 2023

Geir Håøy, President & CEO Mette Toft Bjørgen, EVP & Group CFO

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DISCLAIMER

This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward-looking information and statements reflect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give assurance to the correctness of such information and statements. These forward-looking information and statements can generally be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology such as "targets", "believes", "expects", "aims", "assumes", "intends", "plans", "seeks", "will", "may", "anticipates", "would", "could", "continues", "estimate", "milestone" or other words of similar meaning and similar expressions or the negatives thereof.

By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company's actual financial condition or results of operations could differ materially from that or those described herein as anticipated, believed, estimated or expected.

Any forward-looking information or statements in this presentation speak only as at the date of this presentation. Except as required by the Oslo Stock Exchange rules or applicable law, the Company does not intend, and expressly disclaims any obligation or undertaking, to publicly update, correct or revise any of the information included in this presentation, including forward-looking information and statements, whether to reflect changes in the Company's expectations with regard thereto or as a result of new information, future events, changes in conditions or circumstances or otherwise on which any statement in this presentation is based.

Given the aforementioned uncertainties, prospective investors are cautioned not to place undue reliance on any of these forward-looking statements

Highlights

Growth, solid results and good order intake
- NOK 68.1 billion backlog will support continued growth
Strong exposure towards current major trends
- Sustainability
- Security
- Digitalization
Raised MUSD 90 from two new investors in Kongsberg Digital

Business update Kongsberg Maritime

book/bill

NOK 5.1bn order intake and 1.02

Particularly strong order intake from LNG and Seaborne&Pax segments
Continued strong pace in the aftermarket, especially related to sustainability upgrades and spares

Business update Kongsberg Defence & Aerospace

NOK 4.4bn order intake and book/bill 1.28
Growth driven by solid missiles- and NASAMS-progress
BNOK 1.3 missile order from USN OTH-WS-program
Record-high order backlog

Investing in future growth

Two major investments in new facilities ongoing:
- New missile production facility will be in operation mid-summer 2024, BNOK 1.5 investment
- F-35 depot to be established for maintaining airframes on the Norwegian F-35 combat aircrafts. BNOK 0.5 investment

Business update Kongsberg Discovery

NOK 0.8 bn order intake and 0.89 book/bill
- Increased Hugin deliveries based on strong 2022 order intake
- Strong opportunities ahead in markets such as energy, fisheries, research, security and surveillance

Order intake (NOK bn) Order backlog (NOK bn) Order backlog distribution

Business update Kongsberg Digital

MUSD 90 investment by Shell Ventures and Idékapital

solutions

Acquired majority share in FutureOn

Continued roll-out of digital twins and onboarding of new users on existing

Financial status

Mette Toft Bjørgen, EVP & Group CFO

Revenue

(NOK bn)

Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 0.75 0.93 +25% Kongsberg Discovery Kongsberg Digital

Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 2.69 3.47 +29% Kongsberg Maritime Kongsberg Defence & Aerospace

EBIT and EBIT-margin

(NOK bn, %)

Q2 23

14.8%

0.51

Net working capital

1) NOK 2.3bn and NOK 1.3bn in NWC for Kongsberg Maritime and Kongsberg Discovery respectively 2) 12.5% and 38.7% for Kongsberg Maritime and Kongsberg Discovery respectively

Cash flow development 1.4 - 30.6

Associated companies

NOK 5.8bn in order backlog end of Q2 23

*Share of net income from Patria is recognized as follows during the quarters: Q1: Jan-Feb, Q2: Mar-May, Q3: Jun-Aug and Q4: Sep-Des. Quarterly split of revenues and EBIT are presented with the corresponding periodization.

EUR 1.8bn in order backlog

Outlook

Record-high backlog secures growth in 2023 and beyond
Ongoing marketing, tendering and negotiations related to multiple missile programs
Building capacity for the future

Green shift and increased regulation will drive performance
Continued high activity in aftermarket
Current backlog secures growth in 2023

Continued increase in recurring revenues
Majority stake in FutureOn cements leading position
Shell Ventures and Idékapital will contribute to accelerated growth

Strong positions and solid demand from areas such as fishery, marine research operations, energy, security and surveillance
Current backlog secures growth in 2023

Solid balance sheet and NOK 68.1bn in order backlog, whereof more than NOK 16bn is for delivery in remaining 2023

AI Terminal

Kongsberg Gruppen

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