Creating two focused champions to capture the full opportunity:
A world-class defence leader, and pure-play maritime expert positioned to ride the waves of the future
30 October 2025
Over time, KONGSBERG has grown and evolved into leading, autonomous entities
Revenues per business area1(NOK)
2016 2017 2018 2019 2020 2021 2022 2023 2024 LTM Q3 25
Security and sustainability shaping global priorities
The world's focus on resilient security and sustainable solutions creates strong tailwinds for both businesses to stand as separate entities
Strong growth and momentum have created two autonomous entities
Through consistent growth and strategic focus, both entities have evolved into robust leaders in their respective markets
Positioning two robust and independent entities for the future
Record-high order backlogs for both entities set the foundation for two solid and independent businesses, another strategic step towards delivering on our previously announced 2033-targets
Note: 1) Not pro-forma adjusted 3
The separation carries strong strategic merits
Sharper strategic focus
The demerger will focus leadership capacity, and foster value creation in distinct markets driven by global megatrends
Stronger execution power
Allows each entity to strengthen their approach, agility, and execution power within their respective domains
03
Improved ability to navigate market-specific challenges and opportunities
Different markets, with different strategic requirements, will benefit from autonomous business models
Enhanced competitiveness
04 Each entity with a size and scalability to ensure an internationally competitive position in their respective markets
Kongsberg Maritime and KONGSBERG will separate to optimise operational capabilities and deliver long-term values for all stakeholders
Kongsberg Defence & Aerospace and Kongsberg Discovery are joining forces to supercharge defence and surveillance - faster innovation, more dual-use
4
Kongsberg Maritime makes maritime operations cleaner, safer and more energy efficient
4
The two separate shares are expected to commence trading in Q2 2026
Transaction structure: The separation of Kongsberg Maritime from KONGSBERG will be carried out as a demerger, without any offering of shares
Receipt of shares: Shareholders of Kongsberg Gruppen ASA as of completion of the demerger will receive shares in Kongsberg Maritime at a 1:1 ratio based on their respective KOG shareholding
Separate stock exchange listing of Kongsberg Maritime: The shares of Kongsberg Maritime are to be separately listed on the Euronext Oslo Børs, with first day of trading expected in Q2 2026. At or around the same time, the KOG shares will trade exclusive of the right to receive shares in Kongsberg Maritime. Last inclusive date and ex-date to be announced in due course
Shareholder voting: An extraordinary general meeting in KOG to approve the demerger plan is expected to be held in January 2026. The Norwegian state, through the Ministry of Trade, Industry and Fisheries (Nw.: Nærings- og Fiskeridepartementet), has expressed support for the Board's proposal
Management and board composition of the two companies: Complete management structure will be shared at a later stage. A new Board for Kongsberg Maritime will be effective when the demerger is completed
Indicative timeline:
Oct 2025
Dec 2025
Jan 2026
Feb 2026
Apr 2026
Apr 2026
Announcement
Demerger plan
General Meeting
Deep-dive presentations
Listing prospectus
First day of trading
5
Defence & Aerospace Discovery MaritimeAbout:
Serves national defence and security needs, adapting rapidly to new global security dynamics and leveraging commercial technologies for cost-effective, innovative solutions - from deep sea to outer space
Organisational changes and other:
Comprises of Defence & Aerospace and Discovery1
CEO: Eirik Lie, currently President of Kongsberg Defence & Aerospace
CFO: Recruitment process initiated
Existing stock exchange listing kept
Key financials:
Combined LTM revenues of NOK 28.1 billion2per Q3 2025
Combined LTM EBIT of NOK 4.0 billion2per Q3 2025
Order backlog grown by 40% CAGR last five years per Q3 2025
About:
Leads in maritime technology, offering integrated solutions for
emission reductions, cost optimisation, and secure digitalisation in the maritime industry. Serving more than 30,000 vessels globally
Organisational changes and other:
Comprises of Kongsberg Maritime
CEO: Lisa Edvardsen Haugan, currently President of Kongsberg Maritime
CFO: Mette Toft Bjørgen, currently CFO of Kongsberg Gruppen ASA
All shareholders to be granted shares, 1:1 based on existing holdings in KOG, in a new, Oslo-listed entity
Key financials:
LTM revenues of NOK 26.4 billion per Q3 2025
LTM EBIT of NOK 3.4 billion per Q3 2025
Order backlog grown by 22% CAGR last five years per Q3 2025
Notes: 1) KONGSBERGs ownership in Kongsberg Digital will also be included in KONGSBERG
6
2) Revenues and EBIT numbers exclude accounting profit related to Neuver transaction 6
maritime industry
IRON GSBERG
At a glance
NOK 26.4bn
Q3 2025 LTM revenues
NOK 3.4bn
Q3 2025 LTM EBIT
Technology-driven integrator and systems provider to the maritime industryTechnology powerhouse Strong systems portfolio Global reach
200+ years
of heritage
>30,000
vessels with our solutions onboard
~8,000
employees
NOK 27.6bn
order backlog per Q3 2025
2016 2020 2024
Investing 7-9% of revenue in R&D to remain at the forefront of the technological landscape
Dedicated team of ~8,000 employees globally
with deep domain competence
Responding to increasing vessel complexity, with corresponding data infrastructure and cyber security requirements
Well-positioned and broad product portfolio onboard more than 30,000 vessels
Unique position to deliver value through innovative integrated solutions and optimise assets over lifespan
Local footprint and global reach, with presence in 35+ countries
Resilience, market proximity, and customer intimacy enables us to deliver safe and effective solutions to our customers
8
Market backdrop supports substantial growth for KM driven by megatrends related to decarbonisation, digitalisation and security
Uniquely positioned around global trends
Fleet utilisation and cost-saving
Favourable market indicators
Orderbook-to-fleet-ratio NO & GT1 (lhs), average age (rhs)
Decarbonisation will require more than fuel transition
Performance monitoring and predictive maintenance enabling fleet efficiency
Global security concerns
Increasing spending in Naval segment as part of longterm market cycle
Vessel connectivity and SaaS
Most new-build vessels are now being delivered with IoT based data infrastructure
Cyber security concerns
100%
90%
80%
70%
60%
50%
40%
30%
Orderbook To Fleet Ratio No % 30
Orderbook To Fleet Ratio GT % 28
Average Age 26
24
23
22
20
19
18
50% 16
14
12
10
Equipment & systems
Cyber attacks on navigation and engine control systems increasing the need for cyber security
Sustainability and reduced emissions
Significant cut in CO2 emissions targeted for
20%
10%
0%
16%
8
6
17%
4
5% 2
0
Digital &
operations
Hydrodynamics
international shipping by 2030 '05 '07 '09 '11 '13 '15 '17 '19 '21 '23 '25
Note: 1) NO = Number of orders GT = Gross tonnage
Source: Clarksons Research, KM Business Intelligence 9
Kongsberg Maritime offers a broad portfolio of solutions founded on unique domain knowledge and advanced engineering
Delivering the systems of tomorrow... ... tailored to the needs of today's fleet
Present across the value chain, combining advanced engineering with deep domain knowledge of maritime operations
Integrating the next-generation maritime technology and delivering future-proof solutions for all types of vessels
01 02 03 04 05
LNG
Vessel design
Components System integration
and automation
Delivery to yards and vessel owners
Aftermarket services
Offshore
Seaborne
Naval Other
Tug
Uniquely positioned through a broad offering and system integration across the value chain
Designing and equipping the world's vessels, with ~1/3 of today's fleet using Kongsberg Maritime's solutions
10
Chapter 2: KONGSBERG
Premier supplier of defence and critical infrastructure solutions
At a glance
NOK 28.1bn1
Q3 2025 LTM revenue (excl. JVs)
NOK 4.0bn1
Q3 2025 LTM EBIT
200+ years
of heritage
~80 %
sales outside Norway
~7,000
employees
NOK 114.7bn
order backlog per Q3 2025
Protecting people and planet - from deep sea to spaceTechnology powerhouse
A frontrunner in development of advanced technologies for defence, research, and commercial applications
Global world leading products
Premier supplier of advanced defence and commercial products and solutions supporting mission critical operations - from deep sea to space
2016 2020 2024
1) Revenues and EBIT numbers exclude accounting profit related to Neuver transaction 12
KONGSBERG's growth has outpaced the defence market over the past decade
Backlog growth ~4.5× above global defence spending Proven partner in major defence markets
KONGSBERG backlog development (NOKbn) vs. defence procurement in available countries (USDbn)
9.5x
2.1x
140
120
100
80
60
40
20
0
4,7
11
2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q 2025
KONGSBERG backlog Defence procurements
900
800
700
600
500
400
300
200
100
0
KONGSBERG supplies >30 nations, representing ~80% of global addressable defence spending.
Backlog split by geography:
US
~20%
Europe
~70%
RoW
~10%
Source: Jane's (December 2024) for Defence Procurement 13
KONGSBERG ideally positioned to capture long-term value in defence megatrend
Leveraging megatrends World leading positions Rapid innovation
Strike missiles
Selected by 15 nations
Increase in defence spending
NATO member nations have committed to significantly increase annual defence spending
Air defence
Most sold medium range air defence system in the world, 13 user nations
Remote weapon systems
~80% global market share in weapon stations
Quantum Technology
Autonomous Systems
Crewed / uncrewed platforms
Satellite Payloads
Inertial Navigation
Dual-use Technology
Autonomous underwater vehicles
Number 1 supplier of deep water AUVs
Transforming industry dynamics
Sensor and sonars
Global supplier to civilian and military customers, including most research vessels
Artificial Intelligence
Big data & Analytics
Underwater Technology
Nations are reshoring defence production and leveraging dual-use civilian technologies to build more resilient and cost-efficient supply chains
Satellite
World-leading supplier of ground station services for satellites in polar orbit
KONGSBERG is at the forefront of technological advancements, bridging military and civilian expertise to drive rapid innovation
14
Unlocking long-term value creation
See definition of APMs in Kongsberg Gruppen ASA's quarterly report for 3Q 2025
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Kongsberg Gruppen ASA published this content on October 30, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 30, 2025 at 08:09 UTC.
