Q3 2026: KONGSBERG delivers a strong third quarter with a record-high order backlog

Kongsberg Gruppen ASA (KONGSBERG, OSE: KOG) increased its revenues by 50 per
cent to NOK 11.3 billion in the third quarter. High activity levels and strong
demand for the company's products and solutions contributed to both growth and a
record-high order backlog. 

"At a time when European security is being challenged, our task is to strengthen
defence capabilities through technology, capacity and delivery performance. We
are expanding our capacity, including in Poland, to meet growing demand. Our
focus now is on executing on our strong order backlog, which provides a solid
foundation for continued growth," said Eirik Lie, President and CEO of
KONGSBERG.

Highlights and key figures, third quarter 2026:

-	Strong order intake of NOK 23.3 billion
-	50 per cent revenue growth to NOK 11.3 billion
-	EBIT increased by 66 per cent to NOK 1.9 billion
-	Record-high order backlog of NOK 174.2 billion

"KONGSBERG's market-leading solutions in missiles, air defence and remote weapon
stations address some of the most pressing security and defence challenges
facing the world today. At the same time, the underwater domain and satellite
technology are becoming increasingly important to national security and
resilience," said Lie.

Strong demand for KONGSBERG's technology

Demand across KONGSBERG's portfolio continued to strengthen throughout the
quarter. In particular, interest remained strong for the company's missiles, air
defence systems and remote weapon stations.

In July, the United States Air Force ordered additional Joint Strike Missiles
(JSM) for its F-35 fleet. Later in the quarter, KONGSBERG signed a framework
agreement with the US Marine Corps covering production and sustainment support
for the Naval Strike Missile (NSM). In October, Denmark, as the seventh nation,
announced its intention to procure the JSM for its F-35 fighter aircraft.

KONGSBERG also signed several major air defence contracts. Among these was a NOK
10 billion agreement with Belgium for NASAMS. Belgium thereby became the 18th
nation to have ordered NASAMS.

In addition, KONGSBERG signed a contract to deliver remote weapon stations for
the Canadian Army's Armoured Combat Support Vehicle programme. The weapon
stations are a key component of the company's counter-drone capabilities.

Strengthening the technology portfolio

The underwater domain is becoming increasingly important for national security,
the protection of critical infrastructure, and maritime domain awareness. With
extensive expertise in underwater sensor technologies and autonomous underwater
systems, KONGSBERG is strongly positioned to meet growing demand in this
expanding market.

During the third quarter, the U.S. government awarded KONGSBERG a USD 54 million
contract related to autonomous underwater capabilities. U.S. authorities also
approved KONGSBERG's acquisition of Sonatech during the quarter. The acquisition
expands the company's expertise in underwater acoustics and strengthens its
position in the U.S. market.

KONGSBERG's acquisition of Zone 5 Technologies in the second quarter of 2026
expanded the company's missile portfolio with solutions that can be produced
cost-effectively at scale. During the third quarter, Zone 5 was selected for a
U.S. Navy program valued at USD 65 million, demonstrating the relevance of Zone
5's technology in a market characterised by growing demand.

Record-high order backlog provides strong visibility

Order intake in the third quarter amounted to NOK 23.3 billion, compared with
NOK 9.5 billion in the corresponding quarter last year. This resulted in a
book-to-bill ratio of 2.06.

At the end of the third quarter of 2026, the KONGSBERG's order backlog stood at
NOK 174.2 billion, an increase of NOK 16.7 billion during the quarter.
Year-to-date in 2026, the company has achieved an order intake of NOK 67
billion. The order backlog extends over many years and provides predictability
for future development.

"The current security environment requires industry to deliver rapidly, reliably
and at scale. With a record order backlog and continued strong demand, we are
well positioned to meet the needs of our customers and allies. Together with our
suppliers, we have the capacity required to strengthen defence capabilities,
enhance preparedness and ensure that we are ready to meet tomorrow's needs,"
said Lie.

KONGSBERG (OSE ticker: KOG) is an international technology and defence company
that delivers critical products and solutions in defence, security and
surveillance on land, underwater and in space. KONGSBERG has approximately 7 800
employees in 20 countries and had a total revenue of NOK 32.8 billion in 2025.
d in space. KONGSBERG has approximately 7 800\
employees in 20 countries and had a total revenue of NOK 32.8 billion in 2025.\