Kongsberg Defence & Aerospace (KONGSBERG) has entered into an agreement to
acquire Lithuanian smallsat mission integrator and bus manufacturer
NanoAvionics. The planned acquisition expands KONGSBERG's space offering to also
have products and technology for manufacturing small satellites.   

NanoAvionics is a leading smallsat mission integrator and bus manufacturer with
significant global growth in recent years, including expansions into the United
Kingdom and the United States. With more than 150 employees the company has
contributed to 120 missions and commercial satellite projects, with customers
ranging from national space agencies to universities such as UNSW Sydney  and
companies such as Thales Alenia Space, Aurora Insight, the Dubai Electricity &
Water Authority, SEN and others.

"The agreement to acquire NanoAvionics represents a game changer for KONGSBERG's
space ambitions. By acquiring NanoAvionics KONGSBERG expands its portfolio to
also have products and technology for designing and manufacturing small
satellites. KONGSBERG is the Nordic region's largest industrial space company
and a global leader in maritime surveillance. We have clear ambitions to grow
further and with this acquisition we are taking the next step both for us and
for Norwegian space industry", says Geir Håøy, CEO of KONGSBERG.

KONGSBERG will acquire in total 77 per cent of the company. Current majority
owner AST & Science will divest all its shares, while the management of
NanoAvionics will retain 23 per cent of the company. The parties have agreed
upon an enterprise value of EUR 65 million (100 per cent basis). KONGSBERG and
NanoAvionics plan to close the transaction following the conclusion of customary
closing conditions including any required regulatory reviews.

The two companies have complementary technology and positions in the space value
chain. NanoAvionics is a leader in the Smallsat segment, whilst KONGSBERG is an
established provider of spacecraft subsystems, and through Kongsberg Satellite
Services the world-leading supplier of satellite ground stations for downloading
and processing satellite data.

NanoAvionics has customers in more than 40 countries across Asia, Europe and the
Americas, complementing KONGSBERG's global positions in both the traditional
space segment and new space.

For further information:
Ronny Lie, Chief Communication Officer, (+47) 91 61 07 98
Jan Erik Hoff, Group Vice President Investor Relations, (+47) 99 11 19 16

KONGSBERG (OSE-ticker: KOG) is an international, leading global technology
corporation delivering mission-critical systems and solutions with extreme
performance for customers that operate under extremely challenging conditions.
We work with nations, businesses and research environments to push the
boundaries of technology development in industries such as space, offshore and
energy, merchant marine, defence and aerospace, and more. KONGSBERG has about
11,000 employees located in more than 40 countries, creating a total revenue of
NOK 27.5bn in 2021.

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