The Board of Kongsberg Gruppen ASA approved the financial statements for 2019 in
the board meeting 19 March 2020. The financial statements were approved without
changes from the preliminary annual accounts announced on 12 February 2020.

The Board of Directors (BoD) have decided to propose an ordinary dividend of
MNOK 450, corresponding to NOK 2.50 per share to the Annual General Meeting
(AGM). The AGM will be held on 14 May 2020, and the share will be traded
ex-dividend 15 May 2020. 

KONGSBERG has a solid financial position, but due to the recent significant
increased uncertainty in the global economy, and to secure room for actions
considering future development, the proposal regarding additional dividends is
adjusted:

-	The BoD requests the AGM for an authorization to pay out additional dividends
up to MNOK 1,800, corresponding to NOK 10.00 per share. The authorization is
valid until the next AGM.

The BoD will also as previously communicated, request authorization to purchase
own shares for cancelation, for up to MNOK 500. The authorization is valid until
the next AGM.

“KONGSBERG has a solid financial position and are initially well positioned to
handle the extraordinary situation. The financial consequences of what we are
now experiencing are highly uncertain, and it is important for KONGSBERG to
maintain financial strength going forward. With regards to this, the Board has
decided that it is not appropriate to propose the payment of the previously
communicated additional dividend now, but rather ask for an authorization, so
that the board can assess the economic development going forward and consider an
additional dividend when the situation is more normalized” says Chairman of
KONGSBERG Eivind Reiten.

It has also been decided that the Group’s Corporate Management Team and members
of the management teams in the Group's three business areas will not obtain any
salary increases in 2020. In addition, it has been decided that management
bonuses related to the performance-related part of their salary will not be paid
out for the members of the same management teams at this point in time.

The Annual Report for 2019 will be published on the company's website and
notified to the Oslo Stock Exchange in April 2020.

For further information, please contact: 
Ronny Lie, Group Vice President Communications, Kongsberg Gruppen ASA, 
Tel.: (+47) 916 10 798.

KONGSBERG (OSE-ticker: KOG) is an international, knowledge-based group
delivering high technology systems and solutions to clients within the oil and
gas industry, merchant marine, defence and aerospace. KONGSBERG has close to
11,000 employees located in 40 countries. Follow us on Twitter: @kongsbergasa. 

This information is subject to disclosure requirements pursuant to §5-12 of the
Norwegian Securities Trading Act.