Zurich, May 12, 2024: Kongsberg Automotive's (KA) Board of Directors, along with
the CEO and Executive Management, have decided to operate the company out of
Kongsberg, Norway. Going forward, Kongsberg will be the headquarters for KA with
Zurich, Switzerland, serving as the company's financial center.

In 2017, KA centralized its business model with the intention of streamlining
business and decision processes in Zurich, Switzerland. In alignment with the
changes in the strategic business focus of KA, the Board of Directors, the CEO
and Executive Management, made an evaluation, which led to the decision to
reestablish Kongsberg as the headquarters.

This move supports KA's corporate identity, bringing the company back to where
it is publicly listed on the Oslo Stock Exchange. With this decision, KA moves
back to its origins that dates to 1957, strengthening its ties to two of KA's
main Tech Centers in Kongsberg and Raufoss as well as key production facilities
in Hvittingfoss and Raufoss.

As we refocus our strategic direction, KA is proud to return to its roots in
Kongsberg, Norway, reaffirming our commitment to our customers and other
stakeholders, strengthening our ties to our identity and culture," says Linda
Nyquist-Evenrud, President & CEO.

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

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

About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle
industry. We drive the global transition to sustainable mobility by putting
engineering, sustainability, and innovation into practice. Our product portfolio
includes driver and motion control systems, fluid assemblies, and industrial
driver interface products. Find more information
at:?kongsbergautomotive.com (https://www.kongsbergautomotive.com/)