Kongsberg Automotive

Kongsberg Automotive wins contract worth EUR 35.5 million in estimated lifetime revenue

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

a contract worth EUR 35.5 million in estimated lifetime revenue and average

annual revenue of EUR 5.1 million.

P&C Driveline business unit won the five-year contract for MT (manual

transmission) and AT (automatic transmission) shifters for one of the largest

OEMs in the world.

Designed for passenger cars, Kongsberg Automotive's MT and AT shifters are used

to control the gearboxes and achieve the ease of shifting required by our

customers.

Kongsberg Automotive is in the process of developing the custom products, and

production will start in 2023. The Vrable facility in Slovakia will produce and

supply the product.

"This is a substantial award for an iconic European brand produced by one of the

largest OEM customers in the world. These cars began the "green" movement

decades ago and personify sustainable, energy-efficient city cars globally,"

says Bob Riedford, President of P&C, adding, "We are proud to partner with

industry leaders to bring Kongsberg Automotive's shifter technology into the

next generation of low emissions cars."

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:

Jakob Bronebakk

+47 906 39 637

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