Kongsberg Automotive

Kongsberg Automotive wins contract worth EUR 32.6 million in estimated lifetime revenue

Kongsberg Automotive (KA)'s Powertrain and Chassis (P&C) business segment has

secured a contract worth EUR 32.6 million in estimated lifetime revenue

corresponding to annual revenue of EUR 6.5 million.

P&C was awarded this contract by a global original equipment manufacturer (OEM),

for a family of stalk devices, which uses the right-hand stalk attached to the

steering column as a shift-by-wire shifter for Automatic Manual Transmissions

(AMT) as well as the addition of variants for Manual Transmission (MT)

applications.

This product is KA's first for the new generation of ASIL B, capable stalk

shifters for trucks which will also provide cyber security and the capability

for Over the Air (OTA) updates. ASIL B level is the latest government safety

regulation in ISO 26262, which require a level of redundant function in case of

an electronic fault.

KA's Nuevo Laredo facility in Mexico will produce and supply the product from

January 2024.

"We are excited to continue the growth of our shift-by-wire portfolio with a

proven global OEM in the truck industry. We have developed a set of building

block solutions that allow us to be nimble in the marketplace. This important

business win shows that our product strategy is valued by our OEM customers,"

says Bob Riedford, President of P&C

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 (https://www.kongsbergautomotive.com/)

Media contact:

Therese Sjoborg Skurdal

+47 982 14 059

Investor relations contact:

Mads Langaard

+47 905 81 264

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