Kongsberg Automotive ASA Q2 2019 Report and Presentation follow attached.

• Revenues grew by MEUR 6 (2.0%) YoY to MEUR 294 including positive FX effects of MEUR 4. This despite a declining market.

• Excluding FX effects, our growth rate was 1% compared to a passenger car market decline of 6%.

• We were awarded new business worth MEUR 110 in annual revenues which corresponds to MEUR 463 in expected lifetime revenues.

• Adj. EBIT amounted to MEUR 20.4 with no FX effects; MEUR 0.4 lower than Q2 2018.
• The mostly macro related unfavorable impacts continued from Q1 into Q2. (Raw material prices, Mexican labor, Tariffs)

• Due to smaller YoY topline growth than in Q1, this growth was, contrary to Q1, not sufficient to offset the macro effects above.

• EBIT improved YoY by 28% due to a significant reduction in restructuring costs.

• Free cash flow was negative MEUR 6.1 driven by capital investments and cash tax payments.
• Cash on hand at the end of the quarter was MEUR 35.6.
• On a non IFRS 16 adjusted basis, our LTM adjusted gearing ratio (NIBD/Adj. EBITDA) was 2.3X, which is 0.1X higher than in Q2 2018. After the IFRS 16 adjustments, our gearing ratio was 3.0X.

The earnings conference call including a review of the Q2 Presentation can be followed through this link starting at CET 09:00:

https://globalmeet.webcasts.com/starthere.jsp?ei=1231903&tp_key=fb96795a80