Kongsberg Automotive

Kongsberg Automotive obtains waiver agreement approval from its syndicate banks

Kongsberg Automotive ASA announces that approval has been obtained from its

syndicate banks, subject to the facility agreement dated March 2015 (the

"Facility"). The Amendment to the Facility is entered as per 31 December 2016.

As per the key terms of such amendment, the following covenants will be waived

until March 31, 2018:

· Gearing ratio

· Capital Expenditure limit

Kongsberg Automotive is very enthusiastic about this level of cooperation and

trust from our syndicate banks. This enables KA to execute our announced

improvement and restructuring plans in addition to continuing to Invest in our

business both in product development and our operations.

Media:

Fredrik Tangeraas, Director, Corporate Communications

Phone: +47 3277 0535; Mobile: +47 9246 4699

Investors / analysts:

Philippe Toth, EVP, Business Development & IR

Phone: +47 3277 0503. Mobile: +47 9821 4021

About Kongsberg Automotive:

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 EUR 1.0 billion and 10.000

employees in 18 countries, Kongsberg Automotive is truly a global supplier. The

company is headquartered in Switzerland and has 31 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

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