Kongsberg Automotive

Board/Management Information • Dec 12, 2018

Firas Abi-Nassif appointed as Chairman of the Board of directors of Kongsberg Automotive ASA

Firas Abi-Nassif appointed as Chairman of the Board of directors of Kongsberg Automotive ASA

Tuesday 11.12.2018

At today's General Meeting, Firas Abi-Nassif was elected with a strong majority

(94%) to join the board of Kongsberg Automotive ('KA'). Subsequently, the KA

board of directors unanimously elected Firas Abi-Nassif as its Chairman. Firas

Abi-Nassif is a co-founder of Teleios Capital Partners ('Teleios').

Teleios first started investing in KA in 2015 and has a current shareholding of

almost 28%. As a long-term supporter of KA and its largest shareholder, Teleios

now believes that it is time to take a more significant role in the company.

Teleios is very appreciative of the strong support shown by KA's other

shareholders at today's general meeting.

Firas Abi-Nassif, Chairman of the Board said:

"Over the past two years, Teleios has closely followed and supported the work

that has been undertaken to improve KA. In this period, KA has undergone a major

restructuring process to improve operations, efficiency and profitability of the

group. Thanks to these efforts, KA has made significant progress. It is Teleios'

intention to continue to build on this momentum and to further support the

company in the next phase of its development, helping it to realize its full

potential."

"I wish to express my sincere gratitude to Bruce E. Taylor for his strong

leadership during a challenging period for the company, steering KA towards

future success."

Teleios Capital Partners is an investment firm based in Switzerland with over $1

billion in assets under management. Teleios invests in mid-cap companies across

all sectors in Europe, with the objective of creating long-term value for all

shareholders. Founded in 2013, Teleios manages assets on behalf of an

institutional investor base of endowments, foundations and pension plans.

Kongsberg Automotive provides world-class products to the global vehicle

industry. Kongsberg Automotive's business has a global presence. With revenues

of around EUR 1 billion and approximately 10,500 employees in 19 countries,

Kongsberg Automotive is truly a global supplier to the passenger car and

commercial vehicle industries. The company is headquartered in Zurich,

Switzerland.

Contacts:

Investor Relations:

Norbert Loers,

Chief Financial Officer

Phone: +41 43 508 65 60

E-mail: norbert.loers@ka-group.com

Media contact:

Therese Sjöborg Skurdal

Corporate Brand Manager

Phone: +47 32 77 05 91

E-mail: therese.skurdal@ka-group.com

Kongsberg Automotive provides world-class products to the global vehicle

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

comfortable and sustainable. Kongsberg Automotive's business has a global

presence. With revenues of around EUR 1 billion and approximately 10,500

employees in 19 countries, Kongsberg Automotive is truly a global supplier to

the passenger car and commercial vehicle industries. The company is

headquartered in Zurich, Switzerland.

www.kongsbergautomotive.com