Kongsberg Gruppen

Share Issue/Capital Change • Nov 28, 2018

Kongsberg Gruppen ASA – New share capital registered

Kongsberg Gruppen ASA – New share capital registered

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 previous announcements by Kongsberg Gruppen ASA (the "Company") in respect of the rights issue of 59,990,065 new shares in the Company (the "Rights Issue").

The share capital increase pertaining to the Rights Issue has now been registered in the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). The Company's new share capital is NOK 224,987,581.25 divided into 179,990,065 shares, each with a nominal value of NOK 1.25.

The new shares issued in the Rights Issue are expected to be registered on the respective subscribers' VPS accounts on or around 28 November 2018 and will be listed and tradable on the Oslo Stock Exchange on or about 29 November 2018, subject to the relevant subscriber having paid the subscription amount.

For further information, please contact:

Ronny Lie, VP Corporate Communication, Kongsberg Gruppen ASA,

Tel.: + 47 916 10 798.

Jan Erik Hoff, VP Investor Relations, Kongsberg Gruppen ASA,

Tel.: + 47 991 11 916.

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 information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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.