KONGSBERG awarded contract to deliver Naval Strike Missile to US Navy and Marine Corps valued up to NOK 12 billion

12 Nov 2024 23:05 CET

Kongsberg Defence & Aerospace (KONGSBERG) has signed a multi-year procurement
contract with the US Navy for the delivery of Naval Strike Missile (NSM)
missiles to the Navy and Fleet Marine Force over a five-year period. The fixed
price contract awarded today is valued at NOK 10 billion. This contract includes
options which, if exercised, would bring the cumulative value of this contract
to about NOK 12 billion.

"This contract is the largest missile contract in KONGSBERG’s history and an
important milestone for us. We are pleased the United States has selected
KONGSBERG as an industry partner and look forward to continued cooperation to
support US defense capabilities and create value for important stakeholders in
Norway and the US,” said Geir Håøy, President and CEO of KONGSBERG.

NSM is the centerpiece of the Navy’s Over-the-Horizon Weapons System (OTH-WS)
Program, and is being installed on Littoral Combat Ships and CONSTELLATION-class
Frigates. KONGSBERG is also delivering NSM to the US Marine Corps as a key
component of its NMESIS (Navy Marine Expeditionary Ship Interdiction System)
Program.

“This contract is an example of the strong demand we see for our strike missiles
across NATO and allied nations, which is why we this year have opened a new
missile factory in Norway and announced two facilities in Australia and the US.
The multi-year procurement contract vehicle provides KONGSBERG and all our
sub-suppliers stability into the entire supply chain and workforce,” said Eirik
Lie, President of Kongsberg Defence & Aerospace.

KONGSBERG recently announced the building of a new missile factory in James City
County, Virgina, in response to increasing demand for JSM and NSM.

About Naval Strike Missile
The NSM is an anti-ship missile with superior operational performance and high
survivability against all enemy defense systems. The missile was developed by
KONGSBERG and first deployed in 2012 by the Norwegian Navy.

NSM is the main weapon for the Norwegian Navy’s frigates and coastal corvettes,
and has been selected by the US Navy, US Marine Corps, Poland, Romania, Canada,
Germany, Australia, Malaysia, Spain, UK, The Netherlands, Belgium, and Latvia.

This release contains inside information related to Kongsberg Gruppen ASA
pursuant to the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This
release is issued by Renate Tegdal, Investor Relations, Kongsberg Gruppen ASA.
Date and time of publication: 23:04 CET, 12 November 2024

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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