Kongsberg, May 16, 2024: Kongsberg Automotive (KA) has secured a new contract
worth over EUR 13 million in estimated lifetime revenue for battery coolant
pipes.

The contract, awarded by a global Original Equipment Manufacturer (OEM) is for
coolant pipes connected to a new generation of battery packs used in trucks. The
manifold distributes coolant within the battery clusters in the truck's battery
cells and has a unique IP67 connection (water and dust tightness standard) to
the truck's chassis cooling system.

For this three-year contract, KA will start production in 2025 and will include
KA Epila, Spain for extrusion and KA Brzesc Kujawski, Poland for assembly.

"We are delighted to have been awarded this important contract with one of our
largest global customers for their electric truck platform," says David
Redfearn, KA's Chief Sales Officer, adding, "We set out to ensure we could offer
a high-quality competitive coolant solution for powertrains of the future, and
this is another step towards our goal of being the first-choice supplier for
global truck manufacturers."

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/)