Kongsberg Gruppen

Transaction in Own Shares • May 25, 2021

Transactions carried out under the share buy-back program for KONGSBERG related to the employee share program – buy-backs completed

Transactions carried out under the share buy-back program for KONGSBERG related to the employee share program – buy-backs completed

As announced 23 December 2020 and 12 March 2021 KONGSBERG will purchase up to MNOK 320 of own shares related to the employee share program.

The stock exchange notice dated 12 March 2021 stated that shares for a value of NOK 315 million were to be purchased from 12 March. With the transactions announced today the buy-back program related to the employee share program 2021 are completed.

+-------------------+------------------+-------------------+-------------------+

| Date | Aggregert daily | Weighted price | Total |

| | volume | average price | transaction value |

| | (# of shares) | (NOK) | (NOK) |

+-------------------+------------------+-------------------+-------------------+

| 05/19/2021 | 36 000 | NOK 207.59 | NOK 7 473 319 |

+-------------------+------------------+-------------------+-------------------+

| 05/20/2021 | 36 000 | NOK 207.95 | NOK 7 486 103 |

+-------------------+------------------+-------------------+-------------------+

| 05/21/2021 | 36 000 | NOK 210.12 | NOK 7 564 478 |

+-------------------+------------------+-------------------+-------------------+

| 05/25/2021 | 25 000 | NOK 215.25 | NOK 5 381 203 |

+-------------------+------------------+-------------------+-------------------+

| Total earlier | 1 407 000 | NOK 204.05 | NOK 287 102 788 |

| announced | | | |

| buy-back under | | | |

| the program | | | |

+-------------------+------------------+-------------------+-------------------+

| Total purchased | 1 540 000 | NOK 204.55 | NOK 315 007 891 |

| under the program | | | |

+-------------------+------------------+-------------------+-------------------+

See the attached document for information about the individual transaction made under the employee share program.

After the above-mentioned transactions KONGSBERG owns a total of 2 122 322 own shares, corresponding to 1.2% of KONGSBERG's share capital. Out of these 578 262 shares are related to the buy-back of shares for cancelation where the cancelation of shares was approved by the General Meeting on 6 May 2021.

Kongsberg (OSE-ticker: KOG) is an international, knowledge-based group that supplies high-tech systems and solutions to customers in the merchant navy and oil & gas, defence and aerospace industries. Kongsberg has almost 11,000 employees in 40 countries. Follow us on Twitter: @kongsbergasa.