Kongsberg Automotive

Regulatory Filings • Apr 6, 2022

Kongsberg Automotive completes the sale of Light Duty Cables business unit to Suprajit Engineering Limited

Kongsberg Automotive completes the sale of Light Duty Cables business unit to Suprajit Engineering Limited

Zurich, April 6, 2022: Kongsberg Automotive has completed the sale of its Light

Duty Cables (LDC) business unit to Suprajit Engineering Limited ('Suprajit').

The LDC business unit is engaged in the development, manufacture and sales of

world-class mechanical and electro-mechanical light-duty cables used in the

automotive industry and off-highway applications. Kongsberg Automotive and

Suprajit entered into a definitive agreement on October 28, 2021, and the

transaction closed on April 6, 2022 for an enterprise value of EUR 37.7 million.

"The sale of the LDC business unit allows us to consolidate our ambitions to

become stronger and second to none in our future focus areas-on-highway and off

-highway," said Joerg Buchheim, President & CEO of Kongsberg Automotive.

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. Headquartered in

Zurich, with revenues of over EUR 830 million, the company's 5,700 employees are

spread over 18 countries worldwide. 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:

Kongsberg Automotive

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 Communication contact as set

out above.

Forward-looking statements

This announcement contain 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.