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NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Kongsberg, Norway — July 12, 2018 - Kongsberg Actuation Systems B.V., an indirect wholly owned subsidiary of Kongsberg Automotive ASA, successfully placed €275 million senior secured notes in the international capital market today. The notes have a term of seven years (until 2025) and a yield of 5.0% p.a.

The notes are governed by New York law (144A/Reg S) and are expected to be listed on The International Stock Exchange in the Channel Islands. The gross proceeds from the notes will be used for the refinancing of the existing U.S. dollar 172 million and €182 million revolving credit facilities of Kongsberg Automotive ASA, for general corporate purposes and to pay fees and expenses in connection with offering and the entry into a new €50 million revolving credit facility.

Standard & Poor’s and Moody’s rate the notes with BB- and Ba3, respectively.

These materials are not an offer for sale of securities.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities to be issued in a debt capital market transaction (the “Securities”) have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. The Company does not intend to register any part of the Securities in the United States or to conduct a public offering of Securities in the United States.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) above together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Forward-looking Statements

This news release may include “forward-looking statements” within the meaning of the securities laws of certain applicable jurisdictions. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this news release, including, without limitation, those regarding KA’s intentions, beliefs or current expectations concerning, among other things: KA’s future financial conditions and performance, results of operations and liquidity; KA’s strategy, plans, objectives, prospects, growth, goals and targets; future developments in the markets in which KA participates or is seeking to participate; and anticipated regulatory changes in the industry in which KA operates. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “continue,” “ongoing,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “target,” “seek” or, in each case, their negative, or other variations or comparable terminology. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking statements are not guarantees of future performance and that KA’s actual financial condition, results of operations and cash flows, and the development of the industry in which KA operates, may differ materially from (and be more negative).