Kongsberg Automotive

The European Commission authorizes the sale of Kongsberg Automotive's Interior Comfort Systems business unit

Zurich, February 25, 2022: The European Commission has authorized the sale of

Kongsberg Automotive's Interior Comfort Systems (ICS) business unit to Lear

Corporation today.

The ICS business unit supplies seat climate and comfort systems to major car and

seat manufacturers. The closing of the transaction is due to take place on

February 28, 2022.

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. With approximately

11,000 employees in 19 countries, Kongsberg Automotive is truly an international

supplier of automotive technology. The company has more than 27 production

facilities 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

+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 investor relations contact.

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.

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