A possible divestiture of ePower

As stated during its 2016 capital markets day, Kongsberg Automotive (“KA”) is reviewing its product portfolio. As a result of this, KA is considering to divest its ePower business. Consequently, KA has entered into negotiations with a potential buyer to divest its ePower business which is headquartered in Sweden. KA’s ePower business develops, manufactures and markets on board chargers for the vehicle industry and currently has 20 employees. This business generated less than 1 million Euro in revenues in 2016.