Q2 2026: KONGSBERG delivers a strong second quarter with increased revenue and solid profitability

13 July 2026 ¬- KONGSBERG (OSE:KOG) increased revenues by 31 per cent to NOK
10,389 million in the second quarter of 2026, compared to the corresponding
quarter last year. Profitability improved, driven by higher volumes and strong
project execution across the company's three divisions.

"Strong demand for KONGSBERG's technology and solutions, combined with good
progress in key projects, contributed to a strong second quarter. Revenues
increased by more than 30 per cent, while operating profit grew by nearly 50 per
cent to NOK 1.7 billion," says Eirik Lie, President and CEO of KONGSBERG. 

Highlights and key figures, first quarter 2026:
o	Revenues of NOK 10,389 million, compared to 7,915 million in the same quarter
last year, which is an increase of 31 per cent.
o	EBIT of NOK 1,669 million, corresponding to an EBIT margin of 16.1 per cent,
compared to NOK 1,121 million (14.2 per cent) in the same quarter last year.
o	Order intake of NOK 17,067 million, compared to 11,188 million in the same
quarter last year.
o	Continued growth in order backlog, which reached NOK 157,540 million.

Strong order intake across divisions
The majority of the order intake in the quarter was related to the Joint Strike
Missile (JSM). Three separate JSM contracts were signed during the quarter,
while activity remained high across products and divisions.
"The quarter saw several significant contract awards, as well as increased sales
to the United States and Germany, while Canada became the sixth nation to select
the missile," says Lie.

Canada also announced its decision to enter negotiations with Norway and Germany
regarding the acquisition of 212CD submarines. KONGSBERG is a key partner in the
programme and the supplier of the combat system onboard.

Belgium recently announced its selection of NASAMS. During the quarter, a major
agreement valued at approximately USD 400 million was also announced with
Raytheon for the delivery of NASAMS air defence systems to Kuwait. The contract
will be included in order intake once formalised.

Increasing demand from allied nations
KONGSBERG's market-leading products within missiles, air defence and remote
weapon stations address some of the most critical defence challenges facing
nations today.

"We are experiencing growing interest in security both below the sea surface and
in space, areas where KONGSBERG is well positioned. During the quarter, we
signed a contract with an undisclosed international customer for the monitoring
and protection of critical subsea infrastructure," says Lie.

On 9 June 2026, KONGSBERG completed the acquisition of California-based missile
company Zone 5 Technologies. The acquisition supports the company's ambition to
expand its existing missile portfolio with complementary products, including
solutions addressing demand for mass-produced missiles. The investment
strengthens KONGSBERG's presence in the United States and creates opportunities
for expansion into additional markets.

Ambitions and order backlog
At the end of the second quarter, KONGSBERG's order backlog was NOK 157,540
million, an increase of NOK 5,565 million during the quarter and NOK 40,932
million compared to the second quarter of 2025. The order backlog extends over
multiple years and provides a high degree of visibility.

"KONGSBERG has an ambition to increase revenues to NOK 100 billion by 2029 and
NOK 150 billion by 2033. The order backlog and market developments we have seen
in the second quarter, position us well to realise these ambitions. KONGSBERG
continues to deliver critical products and systems that strengthen national
security and help safeguard sovereignty in a world that remains characterised by
uncertainty and rapid change," says Lie.

KONGSBERG would like to invite analysts and investors to a Q&A-session with
management today, July 13, at 14:00 CEST. Registration for the webcast can be
done via the following link: 
https://events.teams.microsoft.com/event/cbdd5518-747f-47fa-b5f2-7cc8da38c30a@7e
5d7b0e-4338-4c04-a1b8-5301eba98efc

KONGSBERG (OSE ticker: KOG) is an international technology and defence company
that delivers critical products and solutions in defence, security and
surveillance on land, underwater and in space. KONGSBERG has approximately 7 800
employees in 20 countries and had a total revenue of NOK 32.8 billion in 2025.
space. KONGSBERG has approximately 7 800\
employees in 20 countries and had a total revenue of NOK 32.8 billion in 2025.\