Kongsberg Automotive's Powertrain and Chassis (P&C) business segment has secured
a contract worth EUR 35.5 million in estimated lifetime revenue and average
annual revenue of EUR 5.1 million.

P&C Driveline business unit won the five-year contract for MT (manual
transmission) and AT (automatic transmission) shifters for one of the largest
OEMs in the world.

Designed for passenger cars, Kongsberg Automotive's MT and AT shifters are used
to control the gearboxes and achieve the ease of shifting required by our
customers.

Kongsberg Automotive is in the process of developing the custom products, and
production will start in 2023. The Vrable facility in Slovakia will produce and
supply the product.

"This is a substantial award for an iconic European brand produced by one of the
largest OEM customers in the world. These cars began the "green" movement
decades ago and personify sustainable, energy-efficient city cars globally,"
says Bob Riedford, President of P&C, adding, "We are proud to partner with
industry leaders to bring Kongsberg Automotive's shifter technology into the
next generation of low emissions cars."

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/)

Media contact:
Therese Sjoborg Skurdal
therese.skurdal@ka-group.com
+47 982 14 059

Investor relations contact:
Jakob Bronebakk
jakob.bronebakk@ka-group.com
+47 906 39 637