Kongsberg Automotive

Board/Management Information • Sep 2, 2022

Kongsberg Automotive establishes a central Sales Organization and appoints a new Chief Sales Officer

Kongsberg Automotive establishes a central Sales Organization and appoints a new Chief Sales Officer

Zurich, September 2, 2022: Kongsberg Automotive (KA) has set up a new central

Sales Organization and has appointed David Redfearn as the Chief Sales Officer

(CSO). David previously led the Fluid Transfer Systems business unit.

The centralization of KA's sales and business development activities, as

announced on Capital Markets Day in December 2021, is a part of the company's

transformation and modernization program. KA's Sales Organization will host a

central team that allows KA to have a stronger focus on its key customers, as

well as tap additional markets in highly profitable segments. The sales team

will help create a clear strategic map for each business as KA continues to

modernize its product portfolio and target profits towards a double-digit margin

by 2024/25.

David and his team will focus on growth, innovation, cost optimization, and

cross sales while unlocking the potential of KA's products in existing and new

markets, and strengthening KA's relationship with its customers.

"By establishing a centralized Sales Organization led by David, we are a great

step closer to our ambition to be second to none in all we do," says Joerg

Buchheim, President & CEO of KA, adding, "With the consolidated sales team, we

can ensure that we serve our valued customers better, focus on profitable

segments and remain responsive to evolving market trends."

"I'm delighted to lead the Sales Organization. We have the right products and

the right set of people to succeed in profitable segments as we shift our gears

towards strategic growth in the coming years," says David Redfearn, KA's CSO.

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

Media contact:

Therese Sjoborg Skurdal

therese.skurdal@ka-group.com

+47 982 14 059

Investor Relations:

Mads Langaard

mads.langaard@ka-group.com

+47 905 81 264

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.