Kongsberg, December 17, 2024: Kongsberg Automotive (KA) has secured a new
contract worth over EUR 25.5 million in estimated lifetime revenue, for the
production of air suspension lines.

The contract, awarded by one of the largest global electric vehicles (EV)
manufacturers, is for nylon lines and connectors, which play a crucial role in
distributing and regulating air within the air suspension system, ensuring
optimal comfort and driving quality, performance, and safety in electric
vehicles.

Production for this five-year contract will involve hose manufacturing at KA's
Suffield plant in the United States, while the assembly will take place in KA's
Ramos Arizpe plant in Mexico. This venture brings new business to KA Ramos
Arizpe and involves a new hose-forming process that was introduced in 2023.

"KA has captured a major customer for one of our core products in the EV
sector," says David Redfearn, KA's Chief Sales Officer. "Our plant in Mexico
continues to enhance our capabilities, reinforcing our leading position in air
suspension solutions. With the increasing adoption of these systems in the
market, we are enthusiastic about the growth opportunities ahead."

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

Investor Relations contact:
investor.relations@ka-group.com

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/)