Kongsberg Automotive

Share Issue/Capital Change • Jul 27, 2020

Kongsberg Automotive ASA - Final results of subsequent offering

Kongsberg Automotive ASA - Final results of subsequent offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, THE UNITED STATES OR

ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD

BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR

SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

Reference is made to the announcement by Kongsberg Automotive ASA (the

"Company") on 24 July 2020 regarding the preliminary results of the subsequent

offering in the Company with gross proceeds of NOK 300 million by issuance of

3,000,000,000 new shares at a subscription price of NOK 0.10 per share (the

"Subsequent Offering"), divided into two tranches where tranche A consists of

2,304,600,000 offer shares ("Tranche A") and tranche B consists of 695,400,000

offer shares ("Tranche B").

The subscription period in the Subsequent Offering expired on 24 July 2020 at

16:30 hours (CEST). Following the expiry of the subscription period and review

of subscriptions, final numbers shows that a total of 6,798,312,849 offer shares

were registered subscribed for in tranche A of the Subsequent Offering. This

entails that subscriptions for offer shares of approximately 295% of available

offer shares in tranche A were received.

All offer shares have been allocated to subscribers holding subscription rights.

In accordance with the allocation criteria set out in the prospectus for the

Subsequent Offering, 1,717,137,070 offer shares in Tranche A have been allocated

based on exercise of subscription rights and 587,462,930 offer shares in Tranche

A have been allocated based on over-subscription by holders of subscription

rights. In accordance with the terms of Tranche B of the Subsequent Offering,

the Company's largest shareholder, Teleios Capital Partners, has been allocated

695,400,000 offer shares in Tranche B.

No shares in Tranche A have been allocated to subscribers without subscription

rights.

As previously announced, notification of allocations in the Subsequent Offering

and the corresponding subscription amount to be paid will be described in a

separate letter distributed to each subscriber today, 27 July 2020. The payment

date for the offer shares is 29 July 2020. Subject to timely payment, the new

shares are expected to be delivered and listed on or about 31 July 2020

following registration of the share capital increase relating to the Subsequent

Offering.

Sparebank 1 Markets AS is acting as manager for the Subsequent Offering.

Advokatfirmaet Wiersholm AS is acting as the Company's legal adviser for the

Subsequent Offering.

For further information, please contact Jon Munthe, General Counsel. Mobile: +47

901 14 582.

IMPORTANT INFORMATION

This announcement is for information purposes only and does not form a part of

any offer to sell, or a solicitation of an offer to purchase, any securities of

the Company. Neither this announcement nor any copy of it may be taken or

transmitted directly or indirectly into the United States, Australia, New

Zealand, Canada, Hong Kong or Japan, or to any persons in any of those

jurisdictions, except in compliance with applicable securities laws. Any failure

to comply with this restriction may constitute a violation of national

securities laws.

The securities referred to in this announcement have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "Securities

Act"), or any securities laws of any state or other jurisdiction of the United

States and may not be offered or sold within the United States except pursuant

to an exemption from, or in a transaction not subject to, the registration

requirements of the Securities Act and in compliance with applicable state law.

The Company does not intend to register any part of the offering or their

securities in the United States or to conduct a public offering of securities in

the United States. Any sale in the United States of the securities mentioned in

this announcement will be made solely to "qualified institutional buyers" as

defined in Rule 144A under the Securities Act.

Any offering of the securities referred to in this announcement will be made by

means of a prospectus. This announcement is an advertisement and does not

constitute a prospectus for the purposes of the Prospectus Regulation (EU)

2017/1129 (as amended, together with any applicable implementing measures in any

EEA member state, the "Prospectus Regulation"). In any EEA member state that has

implemented the Prospectus Regulation, this communication is only addressed to

and is only directed at qualified investors in that member state within the

meaning of the Prospectus Regulation.

In the United Kingdom, this notice is not being distributed, nor has it been

approved for the purposes of Section 21 of the Financial Services and Markets

Act 2000 ("FSMA"), by a person authorized under FSMA and is directed only at

persons who (i) are outside the United Kingdom, (ii) are investment

professionals falling within Article 19(5) of the U.K. Financial Services and

Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or

(iii) high net worth companies, and other persons to whom it may lawfully be

engaged with, falling within Article 49(2)(a) to (d) of the Order (all such

persons in (i), (ii) and (iii) above together being referred to as "relevant

persons"). Under no circumstances should persons who are not relevant persons

rely or act upon the contents of this announcement. Any investment or investment

activity to which this notice relates in the United Kingdom is available only

to, and will be engaged only with, relevant persons.

The Manager is acting exclusively for the Company and no one else in connection

with the transactions described herein and assume no responsibility for this

announcement. Neither the Manager nor any of its respective directors, officers,

employees, advisers or agents accepts any responsibility or liability whatsoever

for/or makes any representation or warranty, express or implied, as to the

truth, accuracy or completeness of the information in this announcement (or

whether any information has been omitted from the announcement) or any other

information relating to the Company, its subsidiaries or associated companies,

whether written, oral or in a visual or electronic form, and howsoever

transmitted or made available or for any loss howsoever arising from any use of

announcement or its contents or otherwise arising in connection therewith.

Matters discussed in this announcement may constitute forward-looking

statements. Forward-looking statements are statements that are not historical

facts and may be identified by words such as "anticipate", "believe",

"continue", "estimate", "expect", "intends", "may", "should", "will" and similar

expressions. The forward-looking statements in this release are based upon

various assumptions, many of which are based, in turn, upon further assumptions.

Although the Company 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 which are difficult or

impossible to predict and are beyond its control. Such risks, uncertainties,

contingencies and other important factors could cause actual events to differ

materially from the expectations expressed or implied in this release by such

forward-looking statements. The information, opinions and forward-looking

statements contained in this announcement speak only as at its date, and are

subject to change without notice.

This announcement is for information purposes only and is not to be relied upon

in substitution for the exercise of independent judgment. It is not intended as

investment advice and under no circumstances is it to be used or considered as

an offer to sell, or a solicitation of an offer to buy any securities or a

recommendation to buy or sell any securities of the Company. Neither the Manager

nor any of its respective affiliates accepts any liability arising from the use

of this announcement.

Each of the Company, the Manager and their respective affiliates expressly

disclaims any obligation or undertaking to update, review or revise any

statement contained in this announcement whether as a result of new information,

future developments or otherwise.

The distribution of this announcement and other information may be restricted by

law in certain jurisdictions. Persons into whose possession this announcement or

such other information should come are required to inform themselves about and

to observe any such restrictions.

This information is subject of the disclosure requirements under section 5-12 of

the Norwegian Securities Trading Act.

Kongsberg Automotive ASA

Jon Munthe

General Counsel

Mobile phone: +47 901 14 582

Kongsberg Automotive provides world class products to the global vehicle

industry. Our products enhance the driving experience, making it safer, more

comfortable and sustainable. With revenues of approx. EUR 1.1 billion and

approximately 11.000 employees in 19 countries, Kongsberg Automotive is truly a

global supplier. The company has more than 25 production facilities worldwide.

The product portfolio includes seat comfort systems, driver and motion control

systems, fluid assemblies, and industrial driver interface products developed

for global vehicle manufacturers. Find more information at

www.kongsbergautomotive.com