Kongsberg Automotive

Regulatory Filings • Oct 3, 2022

Kongsberg Automotive has completed the sale of a part of its Shawinigan operations in Canada

Kongsberg Automotive has completed the sale of a part of its Shawinigan operations in Canada

Zurich, October 3, 2022: Kongsberg Automotive ASA and its subsidiary Kongsberg

Inc (henceforth referred to as KA) have completed the sale of a part of its

Shawinigan operations (henceforth referred to as KA Shawinigan) in Canada to BRP

(Bombardier Recreational Products Inc.) through a subsidiary.

KA Shawinigan specializes in the production of a wide range of products for

powersports applications such as, sensors, actuators, electronic power steering,

wire harnesses, dashboard assemblies, etc. KA and BRP entered into a definitive

agreement for this sale on August 9, 2022, and the transaction closed on October

3, 2022.

"With this transaction, KA will actively scale up our presence in agriculture,

construction sectors, as well as the areas we excel at," says Joerg Buchheim,

President & CEO of KA. "Additionally, the net proceeds from this transaction

allows us to continue to prioritize innovation, explore new markets and invest

in growth."

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

KA media contact:

Therese Sjoborg Skurdal

therese.skurdal@ka-group.com

+47 982 14 059

The information in this announcement is considered inside information pursuant

to the EU Market Abuse Regulation and is subject to the disclosure requirements

pursuant section 5-12 of the Norwegian Securities Trading Act. This announcement

was published by Kongsberg Automotive's Corporate Communications contact as set

out above.

Forward-looking statements

This announcement contains forward-looking statements. Forward-looking

statements are statements that are not historical facts and may be identified by

words such as "believe", "expect", "anticipate", "strategy", "intends",

"estimate", "will", "may", "should" and similar expressions. The forward-looking

statements in this announcement are based upon various assumptions, which in

turn may be based on further assumptions. Although Kongsberg Automotive believes

that these assumptions were reasonable when made, these assumptions are

inherently subject to significant known and unknown risks, uncertainties,

contingencies and other important factors that are difficult or impossible to

predict and are beyond its control. Various factors could cause Kongsberg

Automotive's actual results to differ materially from those projected in a

forward-looking statement. No assurances can be given that the assumptions

underlying the forward-looking statements prove to have been correct. Kongsberg

Automotive disclaims any obligation to update or revise any forward-looking

statements, whether as a result of new information, future events or otherwise.