Kongsberg Automotive

Earnings Release • May 9, 2017

*Corr. Kongsberg Automotive reports Q1 2017 results

(Corrects a typographical error in the Q1 2017 report ( on page 4, in the last sentence) to correctly refer to KA's Capital Markets' Day in November 2016, not 2017 as stated in the previous version of the report)

The Q1 2017 Report follows attached. First quarter 2017 highlights include:

• Revenues were MEUR270.7 in the first quarter, MEUR26.9 (11.0%) above the first quarter last year, including positive currency translation effects of MEUR5.4.
• Adjusted EBITwas MEUR13.5 in the first quarter, MEUR1.7 above the first quarter last year.
• During the first quarter we concluded the sale of the NorthAmerican Headrest andArmrest business. As a result of this, the NorthAmerican Headrest andArmrest business is reported as discontinued operations.
• In March, we announced the closure of the Heiligenhaus facility in Germany. Restructuring costs of MEUR6.6 were accrued.
• Annualized business wins in the first quarter amounted to MEUR35 bringing the total business wins for the last twelve months to MEUR282.
• The adjusted gearing ratio (NIBD/EBITDA) was 2.8Xat the end of first quarter including discontinued operations. Excluding discontinued operations, the gearing ratio was 2.9X.

Investors/analysts:

Norbert Loers, Chief Financial Officer; mobile: +41 79 159 68 16

Media:

Fredrik Tangeraas, Director, Corporate Communications; mobile: +47 924 64 699

About Kongsberg Automotive:

KongsbergAutomotive 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 around EUR1.0 billion and 10.000 employees in 18 countries, KongsbergAutomotive is truly a global supplier. The company is headquartered in Switzerland and has 30 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