Kongsberg Automotive

Board/Management Information • Jan 29, 2025

Trond Fiskum appointed new CEO of Kongsberg Automotive ASA

Kongsberg, January 29, 2025: The Board of Directors of Kongsberg Automotive ASA has appointed Trond Fiskum as new President and CEO of Kongsberg Automotive ASA.

Trond Fiskum is 53 years old. He holds a MSc from the Norwegian University of Technology and Science (NTNU) and an MBA from ESADE Business School, Spain. He has extensive leadership experience from international companies with a solid track record of delivering strong results.

Trond has a decade of experience from Kongsberg Automotive where he held various leadership positions from 2005 to 2015. His first appointment was as Managing Director for Kongsberg Automotive's operations in Brazil, where he conducted a remarkable operational restructuring. This was followed by a position as Head of the Business Area Actuation & Chassis at Kongsberg HQ where he was a member of KA`s Executive Committee, and finally a position as Head of Strategy and Business Development.

The Board of Directors would like to emphasize Trond's experience and knowledge with Kongsberg Automotive. Trond knows and understands the automotive business, and the Kongsberg Automotive culture and values. He has a strong track record of running complex organizational processes involving cost cutting, efficiency improvements, and growth, with financial and strategic responsibility. His additional experience from McKinsey further strengthens his ability to address strategic challenges and implement effective solutions. The Board of Directors is convinced that Trond, with his personal qualities and broad expertise, has the right background to restore profitable growth for Kongsberg Automotive and create value for all its stakeholders.

Since 2015 Trond has resided in Brazil, holding senior positions with Akastor-owned MHWirth. He is currently VP South America at HMH, a merger between MHWirth and Baker Hughes SDS. Trond will relocate to Kongsberg and take office in Kongsberg Automotive HQ. This is an important step in rebuilding the company's HQ in Kongsberg. Trond will start as soon as possible after fulfilling his existing obligations under his current employment contract, and at the latest by July 1, 2025. In the interim period up until he takes office, CFO Christian Johansson will act as the interim President and CEO.

The Board of Directors would like to thank Linda Nyquist-Evenrud for her job as interim CEO and CEO for the last 18 months, and for her hard work, strong dedication and improvements achieved - like new business wins and cost reductions programs. According to her employment contract, Linda has been relieved of her duties with immediate effect.

Investor Relations contact:

investor.relations@ka-group.com

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