Kongsberg Actuation Systems BV issued an Asset Disposition Offer for part of notes due 2025

Zurich, April 26, 2024: Kongsberg Actuation Systems BV, a subsidiary ofKongsberg Automotive ASA (KA), today published an Asset Disposition Offer topurchase for cash Euro 36,000,000 of outstanding principal amount of itsseniorsecured notes due 2025 ("Notes").

KA has determined that Euro 36,000,000 of the Net Available Cash from thesaleof:

(i) The Interior Comfort Systems business unit to Lear Corporation,

(ii) The Light-Duty Cables business unit to Suprajit Engineering Limited and

(iii) A part of Kongsberg Automotive's operations in Shawinigan, Canada to BRP

constitutes "Excess Proceeds" under the indenture dated July 23, 2018 (the"Indenture") - which requires that KA issues an Asset Disposition Offer. The"Asset Disposition Offer Amount" shall be Euro 36,000,000.

The Asset Disposition Offer will expire at 16:00 GMT on May 28, 2024. Any Notenot tendered or accepted for payment will continue to accrue interest.

If the aggregate principal amount of Notes surrendered by holders thereofexceeds the Asset Disposition Offer Amount, the Issuer will select the Notestobe purchased on a pro rata basis based on the principal amount of Notessurrendered.

Further information is published in the "NOTICE OF ASSET DISPOSITION OFFER".

Copies thereof can be obtained from:

The Bank of New York Mellon, London BranchOne Canada SquareLondon, E14 5ALUnited Kingdom

Media and communications contact:Therese Sjöborg Skurdal - Director Corporate Communicationstherese.skurdal@ka-group.com+47 982 14 059

Investor Relations contact:Mads Langaard - Head of Investor Relationsmads.langaard@ka-group.com+47 905 81 264

About Kongsberg Automotive ASAKongsberg Automotive provides cutting-edge technology to the global vehicleindustry. We drive the global transition to sustainable mobility by puttingengineering, sustainability, and innovation into practice. Our productportfolioincludes driver and motion control systems, fluid assemblies, and industrialdriver interface products. Find more informationat:?kongsbergautomotive.com (https://www.kongsbergautomotive.com/)

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