Kongsberg Gruppen

Capital/Financing Update • Nov 21, 2018

Kongsberg Gruppen ASA: Successful placement of bonds

Kongsberg Gruppen ASA: Successful placement of bonds

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the stock exchange announcement made by Kongsberg Gruppen ASA ("KONGSBERG") on 8 November 2018 regarding contemplated bond issue. KONGSBERG has today successfully issued senior unsecured bonds in total amount of NOK 1,000 million. The transaction is split in two tranches:

- 3.0Y NOK 500 million floating rate note with a coupon of 3m Nibor+0.88 % p.a.

- 5.5Y NOK 500 million floating rate note with a coupon of 3m Nibor+1.20% p.a.

The net proceeds from the Bond Issue shall be employed for part financing of the Group’s acquisition of Rolls-Royce Commercial Marine and/or general corporate purposes. The bonds will be listed on Oslo Børs.

Nordea and Arctic Securities have acted as Joint Lead Managers for the bond issues.

For further information, please contact:

Gyrid Skalleberg Ingerø, CFO, +47 926 67 000

Per Håvard Siljan Hjukse, Group VP Finance & Treasurer, +47 93 05 72 98

KONGSBERG (OSE-ticker: KOG) is an international, knowledge-based group delivering high technology systems and solutions to clients within the oil and gas industry, merchant marine, defence and aerospace. KONGSBERG has 7 000 employees located in more than 25 countries and total revenues of NOK 14.5 billion in 2017. Follow us on Twitter: @kongsbergasa.

This announcement may not be distributed or sent into the United States or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. These materials are not an offer for sale of securities in the United States or any other country. The securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.