Kongsberg Gruppen

Transaction in Own Shares • Jan 16, 2023

Market part of 2022-2023 share buyback programme finalised

Market part of 2022-2023 share buyback programme finalised

Kongsberg Gruppen ASA (“KONGSBERG”) has during the period 9-13 January 2023 repurchased 21,724 shares in KONGSBERG at an average price of NOK 391.85, which concludes the open market repurchase for the 2022-2023 share buyback programme as announced on 13 May 2022.

+-------------------+------------------+-------------------+-------------------+

| Date | Aggregated daily | Weighted | Total |

| | volume | average price | transaction value |

| | (# of shares) | (NOK) | (NOK) |

+-------------------+------------------+-------------------+-------------------+

| 01/09/2023 | 4 041 | NOK 403,82 | NOK 1 631 818 |

+-------------------+------------------+-------------------+-------------------+

| 01/10/2022 | 4 364 | NOK 392,60 | NOK 1 713 307 |

+-------------------+------------------+-------------------+-------------------+

| 01/11/2022 | 4 452 | NOK 389,15 | NOK 1 732 513 |

+-------------------+------------------+-------------------+-------------------+

| 01/12/2022 | 4 448 | NOK 385,83 | NOK 1 716 159 |

+-------------------+------------------+-------------------+-------------------+

| 01/13/2022 | 4 419 | NOK 388,94 | NOK 1 718 738 |

+-------------------+------------------+-------------------+-------------------+

| Total earlier | 673 831 | NOK 358,21 | NOK 241 380 778 |

| announced | | | |

| buy-back under | | | |

| the program | | | |

+-------------------+------------------+-------------------+-------------------+

| Total purchased | 695 555 | NOK 359,27 | NOK 249 893 313 |

| under the program | | | |

+-------------------+------------------+-------------------+-------------------+

See the attached document for information about the individual transaction made under the buy-back program.

The total programme comprised about 1,39 million shares, of which 695,555 shares were repurchased in the market for a total consideration of NOK 249.9 million. The remaining shares will be purchased from the Kingdom of Norway through the Ministry of Trade, Industry and Fisheries such that the Ministry's ownership interest in KONGSBERG of 50.004% remains unchanged.

The approx. 1.39 million shares will be cancelled and redeemed following approval by the Annual General Meeting in May 2023, whereby the number of registered KONGSBERG shares will be reduced by approx. 1.39 million from today’s 177.31 million. The shares repurchased in the open market have had an immediate cash flow effect, while the pro rata shares from the Norwegian state will be paid simultaneously with the capital reduction in mid-2023.

The weighted average price for the full programme ended at NOK 359.27 per share and with this KONGSBERG concludes its about NOK 3.2 billion shareholder remuneration for 2021. The remuneration included ordinary dividends of NOK 3.30 per share, special dividends of NOK 12.00 per share in addition to the NOK 500 million share buyback programme.

The buyback program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation").

After the above-mentioned transactions KONGSBERG owns a total of 735.834 own shares, corresponding to 0.41% of KONGSBERG's share capital.

This information is subject to the disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act and requirements under the EU Market Abuse Regulation.

Kongsberg (OSE-ticker: KOG) is an international, knowledge-based group that supplies high-tech systems and solutions to customers in the energy, merchant, navy and defence and aerospace industries. Kongsberg has more than 12,000 employees in 40 countries and a total revenue of NOK 27.5bn in 2021.

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