Kongsberg Automotive

Kongsberg Automotive wins contract worth EUR 58 million in estimated lifetime revenue

Kongsberg Automotive's Fluid Transfer Systems (FTS) business unit has secured a

contract worth EUR 58 million in estimated lifetime revenue and average annual

revenue of EUR 14.5 million.

The four-year contract covers Kongsberg Automotive's Fluoro-Comp® hose, and

stainless-steel braided PTFE brake lines for a global automotive Tier 1 supplier

based in North America.

The Fluoro-Comp® hose is a non-metallic reinforced PTFE hose used for

applications, which require low weight and tight packaging. It can withstand

extreme temperature capabilities and burn-through resistance and gives users the

performance and properties of a PTFE hose, while still maintaining the forming

and routing ease of a nylon or rubber hose.

Kongsberg Automotive's FTS business unit manufactures its hydraulic brake hose

with a PTFE liner and stainless-steel braid. The product meets the global

standards and the requirement of multiple vehicle manufacturers and gives the

best brake feeling you can experience. The Fluoro-Comp® and the hydraulic brake

hose are for the internal combustion engine (ICE), and electric vehicles (PHEV

and BEV). Kongsberg Automotives' two facilities in Suffield Connecticut and

Grand River Ohio, USA will produce and supply the products.

"We are delighted to secure this agreement with a key partner in this important

market area. These world-leading safety critical products continue to drive our

growth," says David Redfearn, Executive Vice President, FTS, adding, "I give

thanks to our North American team for all their hard work and dedication."

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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