Kongsberg Gruppen

Share Issue/Capital Change • Nov 6, 2018

Kongsberg Gruppen ASA – Primary insider notice

Kongsberg Gruppen ASA – Primary insider notice

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 approved underwritten rights issue (the "Rights issue") in Kongsberg Gruppen ASA (the "Company"), where the subscription period is expected to commence on 7 November 2018.

The overview below shows primary insiders, including their close associates, who have given each of Arctic Securities AS and DNB Markets an irrevocable power of attorney to subscribe for offer shares at a subscription price of NOK 83.30 in the Rights Issue, sell subscription rights, or a combination of the two, on the first day of the subscription period:

Mocca Invest AS, 100% owned by Eivind K. Reiten, Chairman of the Board, has given a power of attorney to subscribe for 950 offer shares, corresponding to the number of subscription rights which will be allocated to Mocca Invest AS based on its existing shareholding. Following the issuance of the new shares in the Rights Issue, Mocca Invest AS will own 2,850 shares in the Company.

Morten Henriksen, Board member, has given a power of attorney to subscribe for 3,000 offer shares, of which 1,000 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 2,000 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Henriksen will own at least 3,000 shares in the Company.

Kold Invest AS, 50% owned by Martha Kold Bakkevig, Board member, has given a power of attorney to subscribe for 6,700 offer shares, of which 700 corresponds to the number of subscription rights which will be allocated to Kold Invest AS based on its existing shareholding and 6,000 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Kold Invest AS will own at least 2,100 shares in the Company.

Elisabeth Fossan, Board member, has given a power of attorney to subscribe for 1,720 offer shares, of which 1,620 corresponds to the number of subscription rights which will be allocated to her based on her existing shareholding and 100 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Fossan will own at least 4,860 shares in the Company.

Harald Aarø, Group Executive Vice President Business Development & CSO, has given a power of attorney to subscribe for 3,537 offer shares, of which 2,537 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 1,000 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Aarø will own at least 7,612 shares in the Company.

Hans Petter Blokkum, Group Executive Vice President and Chief Human Resources Officer, has given a power of attorney to subscribe for 925 offer shares, of which 525 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 400 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Blokkum will own at least 1,575 shares in the Company.

Egil Haugsdal, President in Kongsberg Maritime and member of KONGSBERG's corporate management team, has given a power of attorney to subscribe for 12,185 offer shares, of which 10,185 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 2,000 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Haugsdal will own at least 30,556 shares in the Company.

Per Håvard Siljan Hjukse, Group Vice President Finance & Treasurer, has given a power of attorney to subscribe for 1,523 offer shares, of which 523 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 1,000 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Hjukse will own at least 1,570 shares in the Company.

Jan Erik Hoff, Group Vice President Investor Relations, has given a power of attorney to subscribe for offer 2,807 shares, of which 2,407 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 400 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Hoff will own at least 7,222 shares in the Company.

Geir Håøy, President and CEO, has given a power of attorney to subscribe for 9,441 offer shares, of which 7,941 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 1,500 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Håøy will own at least 23,823 shares in the Company.

Gyrid Skalleberg Ingerø, Group Executive Vice President and CFO, has given a power of attorney to subscribe for 8,196 offer shares, of which 2,196 corresponds to the number of subscription rights which will be allocated to her based on her existing shareholding and 6,000 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Ingerø will own at least 6,589 shares in the Company.

Eirik Lie, President in Kongsberg Defence & Aerospace and member of KONGSBERG's corporate management team, has given a power of attorney to subscribe for 2,912 offer shares, of which 1,912 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 1,000 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Lie will own at least 5,736 shares in the Company.

Ronny Lie, Group Vice President Corporate Communication, has given a power of attorney to subscribe for 836 offer shares, of which 636 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 200 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Lie will own at least 1,908 shares in the Company.

Bjarte S. Petersen, Group Vice President Corporate Accounting & Reporting, has given a power of attorney to subscribe for 704 offer shares, of which 204 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 500 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Petersen will own at least 613 shares in the Company.

Hege Skryseth, President in Kongsberg Digital and member of KONGSBERG's corporate management team, has given a power of attorney to subscribe for 5,236 offer shares, of which 3,236 corresponds to the number of subscription rights which will be allocated to her based on her existing shareholding and 2,000 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Skryseth will own at least 9,709 shares in the Company.

Sigmund Ivar Bakke, Board member, has given a power of attorney to sell all of the 1,539 subscription rights which will be allocated to him. Bakke will, following the sale of the subscription rights, continue to own 3,078 shares in the Company.

Ole Magnus Svarva, Alternate Board Member, has given a power of attorney to sell all of the 1,944 subscription rights which will be allocated to him. Svarva will, following the sale of the subscription rights, continue to own 3,889 shares in the Company.

Even Aas, Group Executive Vice President Public Affairs, has given a power of attorney to sell 2,897 subscription rights and subscribe for 6,500 offer shares of which 6,000 corresponds to the number of subscription rights which will be allocated to him based on his existing shareholding and 500 represents over-subscription. Following the issuance of the new shares in the Rights Issue, Aas will own at least 23,794 shares in the Company.

Eva Smedsrud Johansen, Personal Assistant to CEO, has given a power of attorney to subscribe for 400 offer shares based on allocated subscription rights and to sell the remaining 1,426 subscription rights. Following the issuance of the new shares in the Rights Issue, Johansen will own 4,053 shares in the Company.

This information is subject to disclosure requirements pursuant to section 4-2 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.