#1KONGSBERG Investor presentation Q1 2022 Geir Håøy, President & CEO Gyrid Skalleberg Ingerø, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2020 KONGSBERG - All rights reserved.#2KONGSBERG DISCLAIMER This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward-looking information and statements reflect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give assurance to the correctness of such information and statements. These forward-looking information and statements can generally be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology such as "targets", "believes", "expects", "aims", "assumes", "intends", "plans", "seeks", "will", "may", "anticipates", "would", "could", "continues", "estimate", "milestone" or other words of similar meaning and similar expressions or the negatives thereof. By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company's actual financial condition or results of operations could differ materially from that or those described herein as anticipated, believed, estimated or expected. Any forward-looking information or statements in this presentation speak only as at the date of this presentation. Except as required by the Oslo Stock Exchange rules or applicable law, the Company does not intend, and expressly disclaims any obligation or undertaking, to publicly update, correct or revise any of the information included in this presentation, including forward-looking information and statements, whether to reflect changes in the Company's expectations with regard thereto or as a result of new information, future events, changes in conditions or circumstances or otherwise on which any statement in this presentation is based. Given the aforementioned uncertainties, prospective investors are cautioned not to place undue reliance on any of these forward-looking statements WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information#3KONGSBERG ● • . • • Highlights first quarter 2022 Solid order intake in maritime Revenue growth in all business areas • Particularly in maritime aftermarket Solid operational performance Logistics and component shortage affect all business areas Complies with sanctioning against Russia Order intake Revenue NOK 7.5bn NOK 7.0bn EBITDA NOK 0.8bn WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 3#4KONGSBERG Important contracts awarded in first quarter Maintenance service to the search & rescue service in Norway N Innovative propulsion technology for two new CSOVS to be built by Vard 0000090 Scandlines ZERO EMISSION Propulsion and control system for new zero emission Scandlines ferry WORLD CLASS - Through people, technology and dedication Air-to-air pylons for the F-35 program PISELME Several Vessel Insight contracts Innovative electrical and control technologies to Yinson for FPSO project KONGSBERG PROPRIETARY - See Statement of Proprietary information 4#5KONGSBERG Business update Kongsberg Maritime Comments Order intake new sales by shipping segment Q1 2022 • Solid and diversified order intake in all divisions including aftermarket • Tug orders drove order intake in Seaborn & Pax and Naval LNG Other Offshore Wind 5% 7% Seaborne & Pax 25% 9% • Challenging situation with regards to components shortage, logistics and raw materials. Offshore 12% • Launched additional member of HUGIN family, HUGIN Edge WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 13% OPU 14% Naval 16% Fishery and Special Purpose Vessels 5#6KONGSBERG Business update Kongsberg Defence & Aerospace • • • • KAMS fully operational ready for repair and overhaul of F135 engines MoU signed with Navantia for support and modernization of Norway's F-310 frigates Australia approves purchase of Naval Strike Missiles for their destroyers and frigates New satellite capacity for maritime surveillance launch together with Norwegian Defence Research Establishment (FFI) Component shortage delays RWS deliveries. WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 6#7KONGSBERG Business update Kongsberg Digital Comments ● • • • New strategic partnerships related to offshore wind signed in the quarter Continued roll-out of digital twins and onboarding of new users on existing solutions Large fleet contracts for Vessel Insight signed with major vessel owners and operators Strategic contract for digital twins signed with an additional oil major in April Kognitwin Vessel Insight WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information Vessel Insight and Kognitwin ~1,300 1,077 ~3,000 Vessels Q4'21 Q1'22 # of sold vessels ~2,400 ~1,700 ~60 Vessel Insight subscribing shipowners with a fleet of ~3,000 vessels 10 Digital Twins Q4'21 Q1'22 Active users on Digital Twins in operation Kognitwin 7#8KONGSBERG Financial status Gyrid Skalleberg Ingerø, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2018 KONGSBERG - All rights reserved.#9KONGSBERG Financial highlights • Double-digit revenue growth Strong maritime order intake • All-time-high maritime aftermarket 10 digital twins in operation ROACE 32.6% • Dividend ex. date 12 May. WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 9 66#10KONGSBERG Strong backlog of ~NOK 50bn and double-digit revenue growth of 11% YoY Order intake (BNOK) Order backlog (BNOK) 36.9 7.6 49.9 Revenue (BNOK) Rolling 12m revenue 25.3 6.4 7.5 28.1 EBITDA (BNOK, %) EBITDA % 13.9% 7.0 0.9 *14.3% 11.8% 0.8 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Book/bill of 1.06 • Backlog increased 35% compared to Q1'21 All-time-high order intake in maritime • WORLD CLASS - Through people, technology and dedication Revenue growth in all business areas Aftermarket in KM driver for growth Rolling 12m revenue increased with 11% KONGSBERG PROPRIETARY - See Statement of Proprietary information EBITDA affected by; • NOK 113m in extraordinary employee appreciation* NOK 69m accrued loss related to sanctions against Russia* 10 * EBITDA margin adjusted for two extraordinary items#11KONGSBERG (BNOK) 2.2 0.57 Rolling 12m revenue EBIT EBIT & investments 2.8 • Comments Investing for growth and capacity; • NOK 152m in PPE investments • NOK 71m in capitalized R&D 0.52 Expecting increased investment in capacity going forward Updated targets will be presented on CMD 2 June Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 11 11#12KONGSBERG KONGSBERG MARITIME KONGSBERG MARITIME KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2018 KONGSBERG -All rights reserved. 12#13KONGSBERG Strong order intake and increased backlog in KM Order intake (BNOK) Rolling 12m order intake 15.2 4.1 19.8 5.9 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Increased order intake in all product divisions and aftermarket . Aftermarket up ~54% since Q3 2020 WORLD CLASS - Through people, technology and dedication Order backlog (BNOK, %) 11.5 1.5 +26% 14.5 2.4 2024 → 3.9 2023 3.0 8.2 2022 7.0 Q1 21 Q1 22 Increase in "long backlog" due to increased lead times and project mix Limited share of aftermarket orders in backlog KONGSBERG PROPRIETARY - See Statement of Proprietary information 13#14KONGSBERG High activity in aftermarket driver for revenue increase in KM Revenue (BNOK) Rolling 12m revenue 15.6 3.8 17.0 EBITDA (BNOK, %) 11.2% 4.3 0.43 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Aftermarket revenue increased with ~35% compared to Q1 2021 . Strong growth despite logistical challenges and components shortages WORLD CLASS - Through people, technology and dedication 13.0% '9.8% 0.43 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 EBITDA impacted by; • NOK 69m related to sanction against Russia • NOK 70m in extraordinary employee appreciation KONGSBERG PROPRIETARY - See Statement of Proprietary information 14#15KONGSBERG KONGSBERG DEFENCE & AEROSPACE KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2018 KONGSBERG - All rights reserved. 15#16KONGSBERG (BNOK) 3.3 KDA backlog supports growth Order intake and major orders 1.3 Order backlog (BNOK) 34.5 24.5 17.9 2024 → 10.1 8.0 2023 7.3 7.1 8.7 2022 Q1 21 Q1 22 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 • F-35 parts NASAMS upgrade F-35 parts Norway NSM Germany Submarine Norway and Germany • JSM Norway • F-35 parts Backlog coverage for delivery in 2022 secures revenue growth NSM Norway • Increased long backlog increases long term visibility WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 16#17KONGSBERG Continued revenue growth in KDA Revenue (BNOK) Rolling 12m revenue 8.9 2.3 10.2 EBITDA (BNOK, %) 23.5% 20.0% 20.9% 20.4% 20.0% 18.6% 0.46 2.5 0.47 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Revenue increased 5 % compared to Q1 2021 Rolling 12 month revenue increased 14% compared to Q1 2021 WORLD CLASS - Through people, technology and dedication Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 EBITDA impacted by; NOK 37m in extraordinary employee appreciation KONGSBERG PROPRIETARY - See Statement of Proprietary information 17#18K KONGSBERG KONGSBERG DIGITAL KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2020 KONGSBERG - All rights reserved.#19KONGSBERG 15% growth in revenue and 33% growth in recurring revenue in Q1 (MNOK) Rolling 12m Key figures Recurring Revenues revenues 806 192 874 221 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 294 77 372 102 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information ☐ Highlights Revenue growth in all divisions Recurring revenue increased 33% from Q1 2021 to Q1 2022 Energy major signed up four additional assets in April ■ Strong demand for Vessel Insight with several new fleet contracts signed in the quarter 19#20KONGSBERG Outlook KONGSBERG DEFENCE & AEROSPACE Current backlog secures growth in 2022 Fluctuations in revenue expected due to components shortage Current project mix supports solid margins KONGSBERG MARITIME Positive sentiment in new-building, high activity in aftermarket expected to continue Commodity prices and components shortage increase lead time and might impact customer demand KONGSBERG DIGITAL Continued roll-out of KOGNITWIN® and Vessel Insight to existing and new customers Scaling for growth both organic and inorganic Solid balance sheet and BNOK 49.9 in order backlog, whereof BNOK 17.3 for delivery in Q2-Q4 2022 WORLD CLASS - Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 20#21KONGSBERG Capital Markets Day 2022 2 June at Grand Hotel, Oslo CAPITAL MARKETS DAY N INVITATION Capital Markets Day 2022 XXXXX KONGSBERG KONGSBERG would like to invite to our capital markets day Thursday 2 June 2022. Lunch will be served from 11.30 am, and the presentations will start 12:30 pm. The event will take place at Grand Hotel, Karl Johans gate 31, 0159 Oslo. All presentations will be held in English. Please book your attendance using the link below by Friday 27 May. https://kongsberg.pameldingssystem.no/kongsberg-capital-markets-day-1 All presentations will be webcasted on www.kongsberg.com Regards, Geir Håøy & Gyrid Skalleberg Ingerø kongsberg.com/ir WORLD CLASS - Through people, technology and dedication CAPITAL MARKETS DAY KONGSBERG PROPRETARY-See Statement of Proprietary informat KONGSBERG PROPRIETARY - See Statement of Proprietary information 21#22KONGSBERG INVESTOR PRESENTATION Q&A KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must include this legend. © 2020 KONGSBERG - All rights reserved.