Financial support from the Norwegian authorities and EU's ASAP program
contributes to Kongsberg Defence & Aerospace (KONGSBERG) investing in more than
NOK 640 million to increase their missile production capacity.

The security policy situation in Europe has increased the need to ensure the
availability and supply of ammunition and missiles. Last year, the European
commission launched the ASAP program (Act in Support of Ammunition Production)
to support the industry's capability to increase the production capacity for
ammunition and missiles.

During the last years, KONGSBERG has implemented several measures to increase
the production capacity, such as the investment of a new missile factory in the
city of Kongsberg, opening this summer. Now the capacity increases further -
with the support from EU and Norway.

KONGSBERG's investment includes equipment and machines to increase the capacity
in the new missile factory, as well as a new facility to increase the production
capacity for sensor components. In addition, there will be investments in the
supply chain in order to ensure future supplies.

KONGSBERG plans to invest a total of NOK 640 million, of which the Norwegian
authorities contributes with NOK 200 million and EU contributes with EUR 10
million.

"The support from the Norwegian and European authorities contributes to our
ability to implement concrete measures to further strengthen KONGSBERG's missile
production capacity, reduce lead times and enhance the supply chain," says Eirik
Lie, President of Kongsberg Defence & Aerospace.

The Naval Strike Missile (NSM) is currently used by 14 nations, of which 11 are
from NATO or the EU. These new investments will strengthen the already close
collaboration on the NSM production across the European borders, by further
developing an even more resilient missile ecosystem, to ensure supply and
preparedness. 
	
KONGSBERG (OSE ticker: KOG) is an international, knowledge-based group that
supplies high-technology systems and solutions to customers in a wide range of
markets such as defence, security, maritime, energy, aerospace, climate mapping
and subsea technology. KONGSBERG has more than 13,500 employees in 39 countries
and has a total turnover of NOK 40.6 billion in 2023.

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