Kongsberg Automotive

Kongsberg Automotive Stock Exchange release 29. April 2020

Kongsberg Automotive refers to the invitation for an Extraordinary General

Meeting ("EGM") on April 30 2020.

As has been widely published through the EGM invitation and investor

presentations from the company, we have explored a capital raise driven by the

strong expected decline in revenues due to the Corona virus/COVID 19 outbeak. We

have received strong interest from prospective equity investors. However, some

of these have requested more time in order to better understand Kongsberg

Automotive. Thus, we did not complete a capital raise before our scheduled EGM.

We have also recently made progress with alternative non-equity sources of

liquidity. In addition to this, we are seeing gradually improving markets

through the slow but ramping startups at many OEMs. We believe that the

combination of some or all of the above factors may lead to a reduced need for

equity capital than anticipated.

Consequently, Kongsberg Automotive cancels the EGM scheduled for April 30 2020.

We expect to invite for a new EGM shortly with a revised agenda.

KA Investor Relations

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 is headquartered in Zürich, Switzerland and 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

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