Registration Document

Kongsberg Gruppen ASA – 12.12.2012

Kongsberg Gruppen ASA

Kongsberg, 12.12.2012

Prepared according to Commission Regulation (EC) No 809/2004 - Annex IX

Kongsberg Gruppen ASA – 12.12.2012

Registration Document Important notice

The Registration Document is based on sources such as annual reports and publicly available information. This Registration Document has been prepared in cooperation with the Arranger. This is subject to the general business terms of the Arranger. Confidentiality rules and internal rules restricting the exchange of information between different parts of the Arranger may prevent employees of the Arranger who are preparing this presentation from utilizing or being aware of information available to the Arranger and/or affiliated companies and which may be relevant to the recipients' decisions.

The Arranger and/or affiliated companies and/or officers, directors and employees may be a market maker or hold a position in any instrument or related instrument discussed in this Registration Document, and may perform or seek to perform financial advisory or banking services related to such instruments. The Arranger's corporate finance department may act as manager or co-manager for this Issuer in private and/or public placement and/or resale not publicly available or commonly known.

Copies of this presentation are not being mailed or otherwise distributed or sent in or into or made available in the United States other than on the Issuer’s web page. Persons receiving this document (including custodians, nominees and trustees) must not distribute or send such documents or any related documents in or into the United States.

Other than in compliance with applicable United States securities laws, no solicitations are being made or will be made, directly or indirectly, in the United States. Securities will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The distribution of the Registration Document may be limited by law also in other jurisdictions, for example in Canada, Japan and in the United Kingdom. Verification and approval of the Registration Document by Finanstilsynet (The Financial Supervisory, Authority of Norway) implies that the Registration Document may be used in any EEA country. No other measures have been taken to obtain authorisation to distribute the Registration Document in any jurisdiction where such action is required.

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Registration Document Table of Contents:

1. Risk factors ...... 4 2. Persons responsible ...... 5 3. Definitions ...... 6 4. Third part information and forward looking statements ...... 7 5. Statutory auditors ...... 8 6. Information about the issuer ...... 9 7. Business overview ...... 11 8. Administrative, management and supervisory bodies ...... 20 9. Major shareholders ...... 24 10. Financial information concerning the issuer's assets and liabilities, financial position and profits and losses ...... 25 11. Documents on display ...... 26 12. Cross reference list: ...... 27

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Registration Document

1. Risk factors The Group is exposed to different types of risks.

Financial risk Kongsberg is exposed to financial risks such as credit, liquidity and refinancing, foreign exchange, interest rate and market risk associated with financial investments.

Credit risk Credit risk is the risk that KONGSBERG’s contractual counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The business areas disclose the credit risk.

The Group is exposed to credit risk from trade receivables, forward currency contracts, interest rate contracts and monetary investments.

Kongsberg’s Financial Policy requires financial institutions to have a certain credit rating before Kongsberg can engage in financial contracts with them.

Historically, the Group has had a relatively low percentage of bad debts. Kongsberg Defense Systems and Kongsberg Protech Systems mainly have government customers, and are to a small extent exposed to credit risk. Kongsberg Maritime generally serves customers from the private sector, and is more exposed to credit risk. Unrest in the global economy in general and in the shipyard and shipping industry in particular has increased the credit risk in the markets addressed by Kongsberg Maritime. Kongsberg Maritime has made provisions to take this into account. Kongsberg Maritime has implemented operational initiatives to reduce credit exposure. Credit insurance is only used to a limited extent, but is considered in certain cases.

Liquidity risk At Kongsberg, liquidity risk is understood as financial preparedness achieved by ensuring that the Group has financial parameters and liquidity appropriate to its operating and investment plans at all times.

Currency risk A large share of KONGSBERG’s revenues is related to export contracts, and there is a relatively small percentage of purchasing in the same currency. As a result, KONGSBERG has considerable foreign currency exposure. The business areas identify the exposure.

Market risk arising from financial investments Kongsberg’s investments in other companies are based on strategic assessments. The value of the Group’s financial investments is vulnerable to fluctuations in the equity market.

Operational risk The Group’s value creation consists primarily of systems with high technological complexity. Deliveries are generally organized as projects. The projects’ revenues are based on contracts, and the uncertainty is mainly related to the assessment of the remaining costs and determining the percentage of completion.

Market-specific risk Business risk is related to market conditions, competitors and other general business conditions in the markets in which Kongsberg Group operates. Kongsberg Group has good positions in the shipping/offshore and defence markets and has a high order backlog. Cancellations in the shipyard industry, cutbacks in defence budgets in several countries and a general, long-term economic downturn have increased the Group’s risk which may impact the Group’s level of activity over time. The Group operates in several markets that are largely influenced by independent factors. General economic trends will, in varying degree and at different times, influence these markets.

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Registration Document

2. Persons responsible

Kongsberg Gruppen ASA confirm that to the best of their knowledge, after having taken all reasonable care to ensure that such is the case, the information contained in this Registration Document is in accordance with the facts and contains no omission likely to affect its import.

Kongsberg, 12.12.2012

Kongsberg Gruppen ASA

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Registration Document 3. Definitions

Annual Report 2011 - Kongsberg Gruppen ASA – Annual Report 2011

The Company / Issuer - Kongsberg Gruppen ASA

Group / Kongsberg Gruppen/ Kongsberg - Kongsberg Gruppen ASA with subsidiaries

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Registration Document 4. Third part information and forward looking statements

If not otherwise indicated, Kongsberg Gruppen ASA is the source of information in this Registration Document. Information which has been sourced from a third party has been accurately reproduced. As far as the Company is aware and able to ascertain from information published by such third parties, no facts have been omitted which would render the reproduced information inaccurate or misleading.

The Registration Document is based on sources such as annual reports and publicly available information and forward looking information based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for the Issuer's (including subsidiaries and affiliates) lines of business. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets for the Issuer's businesses, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time in the Registration Document. Although it is believed that the expectations are based upon reasonable assumptions, the Issuer can give no assurance that those expectations will be achieved or that the actual results will be as set out in the presentation.

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Registration Document

5. Statutory auditors

The Company auditor for the period covered by the historical financial information in this Registration Document has been Ernst & Young AS.

Ernst & Young AS contact information: Dronning Eufernias gate 6, 0191 Oslo, Norway.

Ernst & Young AS is member of The Norwegian Institute of Public Accountants.

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Registration Document

6. Information about the issuer

Kongsberg Gruppen ASA is a Norwegian Public Limited Company incorporated on 19 June 1987 and regulated by the Norwegian Companies Act and supplementing Norwegian laws and regulations. The Company No is 943 753 709 and its registered business address Kirkegårdsveien 45, 3616 Kongsberg, Norway. Their postal address is P.O. Box 1000 Sentrum, 3601 Kongsberg, Norway. Phone: +47 32 28 82 00. Website: www.kongsberg.com.

Kongsberg Gruppen ASA is the parent company in an internationally oriented knowledge-based technology group which primarily operates within offshore, merchant marine and defence markets. The Group has operations in more than 40 locations in around 25 countries, with about 6,800 employees.

Kongsberg Gruppen ASA is not a primary operational company towards the Group’s customers but provides certain services to its subsidiaries, such as corporate accounting, corporate business development, corporate communication, corporate compliance, corporate finance and reporting, corporate HR, corporate procurement and legal functions. The operational contracts of the Group are typically entered into between the respective subsidiaries of Kongsberg Gruppen ASA and the customers. The Company receives revenues in form of dividends and group contribution from its subsidiaries, and is therefore dependent on its subsidiaries.

Organisation

*Kongsberg Oil & Gas Technologies’ reports its financial results under ”Other”.

For a complete overview of the Group companies, see Annual Report 2011 – note 30

History Kongsberg consists of many different companies, each with its own history and geographical origins. Nevertheless, the history reflects the Group's inextricable ties to the city of Kongsberg over the centuries.

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Registration Document 2005 - 2011 Organic growth and acquisitions The yachting segment was sold in 2005 so that the maritime segment could concentrate on industrial markets. The Group has seen rapid growth in recent years, improving its market positions. The acquisitions consisted of smaller companies with products or market positions that fit into the Group's strategic target areas. Meanwhile, there have been several expansions and new ventures established, especially in Asia and the USA.

1992 - 2005 Maritime focus, stock exchange listing and growth This period is distinguished by the Group's maritime focus, which was a prerequisite for the stock exchange listing and partial privatisation in 1993, and led to the establishment of Kongsberg Maritime as a separate business area in 1995. The Company changed its name to Kongsberg Gruppen in 1995. In 1996, the Group acquired the Simrad Group, followed by Navia in 2000.

1987 - 1992 Crisis and revitalisation In 1987, Kongsberg Våpenfabrikk was restructured, and all civilian activities were sold. Still based in the community of Kongsberg, the units sold at that time have experienced healthy growth and profitability. Defence activities were continued under the banner of Norsk Forsvarsteknologi AS, which formed the basis of today's corporation, Kongsberg Gruppen. After the fall of the Berlin wall in 1989, the Group devised a strategy that focused more on civilian markets. At the same time, there was a deliberate shift from industrial to technological production. Importance was attached to expanding operations in areas of technology related to defence activities.

1955 - 1987 Industrial locomotive Kongsberg Våpenfabrikk was instrumental in building up Norwegian industry after World War II. From 1955 to 1987, the Company evolved from a mechanical engineering company into an enterprise engaged in considerable product development, targeting several markets with strict performance standards. The market areas included the defence, automotive, gas turbine, data, offshore, aviation and aerospace industries. Norway's General Naval Forces Plan was adopted in 1960, marking the advent of a new era in Horten's 'electronic evolution'.

1814 - 1955 Kongsberg Våpenfabrikk and the maritime community at Horten An economic slump for the Silver Works led to the establishment of Kongsberg Våpenfabrikk (a munitions factory) in 1814. The most gifted mining engineers were assigned the task of developing the new cornerstone enterprise.

In the late 1800s, the Company introduced the Krag Jørgensen rifle which was subsequently chosen as the main weapon for the US Army. The deal was one of Norwegian industry's first major export contracts.

Norway's main naval yard was established in Horten in 1849, laying the foundation for a strong maritime community.

1624 - 1814 The discovery of silver Kongsberg was founded in 1624 by King Christian IV after silver was discovered in the area. Kongsberg's silver works and silver mines played a pivotal role in Norwegian history from the late 1600s until the early 1800s. The silver works was Norway's largest enterprise. In about 1720, its aggregate earnings accounted for 20 per cent of the national budget.

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Registration Document

7. Business overview

Kongsberg Gruppen is an international, knowledge-based group that supplies high-technology systems and solutions to customers in the oil and gas industry, the merchant marine, and the defence and aerospace industries.

The Group consists of the following four business areas, Kongsberg Maritime, Kongsberg Oil & Gas Technologies, Kongsberg Defence Systems and Kongsberg Protech Systems.

KONGSBERG MARITIME Kongsberg Maritime delivers products and systems for positioning, navigation and automation to merchant vessels and offshore installations, as well as products and systems for seabed surveying and monitoring, and for fishing vessels and fisheries research.

Merchant marine Product areas within merchant marine:

 Bridge systems  Camera systems  Deck systems  Engine room systems  Sensors and transmitters  Simulators  Tank gauging and measurements

Other merchant marine related product areas:

 Maritime surveillance - Kongsberg Norcontrol IT web

Offshore solutions Product areas within offshore solutions:

 Bridge systems  Camera systems  Deck systems  Engine room and automation systems  Engineering  Safety systems  Simulators  Sensors and Transmitters  Tank gauging and measurements

Other offshore related product areas:

 Drilling Operations - Kongsberg Oil & Gas Technologies web  Integrated Operations - Kongsberg Oil & Gas Technologies web  Maritime surveillance - Kongsberg Norcontrol IT web  Process Simulation - Kongsberg Oil & Gas Technologies web  Riser Management - Kongsberg Oil & Gas Technologies web

Subsea solutions Product areas within Subsea solutions:

 Acoustic Control Systems  Autonomous underwater vehicles  Camera systems  Deck systems

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Registration Document  Echo sounders  Hydrographic data processing software  Sonars  Sub bottom profilers  Subsea positioning systems  Underwater vehicle instruments

Other subsea related product areas:

 Fish finding & fishery research - Simrad web  Tactical naval systems - Kongsberg Defence Systems web

More detailed information regarding the different products see; http://www.km.kongsberg.com/ks/web/nokbg0240.nsf/webProductListingAZKongsberg?ReadForm &Lang=English

KONGSBERG OIL & GAS TECHNOLOGIES Kongsberg Oil & Gas Technologies serves the oil & gas industry with a range of high performance information technology solutions for drilling operations, production, reservoirs and the subsea environment.

Subsea Kongsberg Oil & Gas Technologies is a provider of subsea solutions to the world´s foremost oil and gas companies and field operators. It is through this in-depth experience they have been able to develop a range of state-of-the-art subsea products and equipement that customers can rely upon to manage their field operations.

Concept studies, FEED and design verification Kongsberg Oil & Gas Technologies conduct concept studies, FEED’s and design verifications with careful analysis of tie-back, sea-bed and riser systems. This can reveal if systems are not being optimised for use and if there is room for improvements which can increase returns on investments.

Being able to offer a demanding oil and gas sector with high quality analysis and engineering services requires in-depth knowledge. Serving the industry for several years, Kongsberg Oil & Gas Technologies has gained this experience and the results have manifested us in a range of services on projects around the world.

By understanding every aspect of the industry, they are able to fully analyse the optimum requirements of any project and match the right engineering solutions to deliver the ultimate project outcome – operational, safety and financial performance.

Seabed Layout Kongsberg Oil & Gas Technologies offer clients specialist engineering services within seabed pipeline projects. They are involved in pipeline engineering from early phase studies, detailed design, installation and repair projects.

Kongsberg Oil & Gas Technologies capabilities include:

 Spool design  Strength calculations  On bottom stability  Pipeline expansion  Upheaval / Lateral buckling  Impact protection  Free span analysis  Pipeline crossings  Tie-in design - small and large rigid pipelines  Pipeline repair analysis  Reeling / Plastic bending analysis  Advanced FE analysis (non-linear, dynamic, thermal)

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Registration Document SeaFlex Riser Technologies Kongsberg Oil & Gas Technologies offers a range of riser technologies, covering design and installation, through to operation and integrity. Their products and services include flow lines and umbilical systems, intervention and tooling as well as templates, manifolds and subsea processing.

Riser Integrity Management Monitoring the riser system is crucial for optimised efficiency and reduced risk in the daily operations.

As well as system monitoring during the drilling and workover phase, accurate analysis of riser systems throughout the lifecycle of the asset is vital. Kongsberg Oil & Gas Technologies software solutions allow operators to gather information on operation, inspection, maintenance and repair, including risk-based inspection, analyses and status assessments.

Subsea Products and Equipment Kongsberg Oil & Gas Technologies develops and delivers subsea equipment and sub-assemblies to flowline and subsea projects.

As well as specific products in its portfolio, such as pig launchers and receivers and ROV tools, they offer tailor made value-added services. These include project concept development, detailed engineering, procurement and fabrication of units, as well as structural strength analysis, lifting analysis, corrosion and installation solutions:

 Riser Anchor & hang-offs  Spool & Jumpers  Connector & clamps  Lay down clamps  Flowline Lifting Tools  Hot Stab & Check Valves  Installation tools

Subsea EPC Projects The wealth of experience within Kongsberg Oil & Gas Technologies enables them to offer a full range of solutions related to multiple projects for design, engineering, procurement and construction of subsea systems related to riser and flowline systems. These stem from riser bases through jumps and connectors, through to the lifting equipment required to place the riser elements on the seabed.

Kongsberg Oil & Gas Technologies design and supply structures related to offshore pipeline projects. They deliver custom designed structures and systems based on client’s specifications and needs. They transform customer ideas into turn key products, and offer a unique competence within composites. They challenge the areas where steel has been the traditional material selection, providing clients with weight and cost effective solutions.

Kongsberg Oil & Gas Technologies project management capabilities include:

EPC services

 Pipeline manifolds/terminations/stations  Riser base, -anchor & -clamp solutions  GRP and Steel protection structures  Subsea Pig Launcher / Receivers for pipelines

Engineering services

 Detailed design of structures  Advanced FE analysis (non-linear, dynamic, thermal, fluid)

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Registration Document Technology Systems, Management and Solutions Together with the clients Kongsberg Oil & Gas Technologies develop technology systems and solutions that solve their customers need. Kongsberg Oil & Gas Technologies are also entrusted by their clients to take management and technology lead in their projects. In this way Kongsberg Oil & Gas Technologies becomes the client’s representative to support them on executing their subsea projects.

Field Development Success in managing the development and operation of oil and gas fields depends on a comprehensive understanding of each element of the process.

The challenge comes in being able to bring a holistic approach to fulfilling the integration of the different processes of each stakeholder. The approach needs to be one that analyses, identifies and puts in place the steps required to manage the technology, information, processes and people that can optimise the field. From training and lifecycle simulation, through to reservoir analysis and subsea engineering and flow assurance.

The result is a field that observes the economic demands of the operator, while at the same time meeting the vital operational imperatives of HSE and environmental performance.

Subsea Risers and Flowlines Kongsberg Oil & Gas Technologies is an engineering and consultancy service provider of riser and umbilical technologies, flowlines and subsea production systems for exploration, production and commissioning.

They are involved in major subsea EPC projects, and team up with clients to develop innovative and world class solutions based on best practice and the newest technology.

Their capabilities cover a range of riser engineering, design monitoring and analysis tools to allow operators to manage every aspect of the life of field. They also deliver flowline lifting tools through to tailor-made specialist tools that the customers can choose and use with confidence.

Marine Operations Maintaining and increasing safety and enhancing the logistics management of offshore vessel activities is a key requirement of a well managed field operation. Kongsberg Oil & Gas Technologies offers this capability through its Marine Coordination software.

Increased safety is achieved through 24/7 real-time monitoring of vessel movements in relation to safety requirements. Enhanced logistics management is realised through optimal utilisation of cargo vessels and automatic update of sailing plans with notification of stakeholders. Vessel movements are monitored through innovative real-time 3D visualisation taking into account variables such as weather conditions, installations, onshore bases, sailing plans and cargo manifests.

Easy planning of sailing schedules is achieved with automatic update and notification of changes and dynamic reports enable full analysis of operations to optimise logistics operations.

Dynamic Simulation The efficiency and effectiveness of production operations depends on the ability of operational staff to understand how to integrate the process.

The best way to achieve the relevant competence is through simulation training which provides teaching and learning of the different aspects of the petrochemical process.

Kongsberg Oil & Gas Technologies offers dynamic simulation tools for training, analysis and simulation of the well-stream from oil well to topside. They provide a suite of proprietary tools including stand-alone transient multiphase simulations as well as integrated facility simulation systems and services.

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Registration Document Kongsberg Oil & Gas Technologies have delivered over 300 dynamic simulation studies, 100 customised Operator Training Simulators and over 40 online Production Management Systems to major oil and gas operators worldwide.

 Engineering Simulator  DCS Checkout Simulator  Operator Training Simulator  Lifecycle Simulation  Production Management System  Overall Flow Metering System  Enterprise Simulation  Process Knowledge and Training Simulators  Dynamic Simulation Studies

Flow Assurance Flow Assurance can be the difference between operational success and failure.

From the reservoir to the processing site, flow assurance is about making sure oil and gas travels effectively from subsea source to topside goal. Over recent years major improvements have been made in ensuring uninterrupted flow of oil, gas and water. This success has come about due to both greater understanding of the flow process and improved software simulation solutions that can analyse and define the safest and most efficient flow management designs.

Kongsberg Oil & Gas Technologies use LedaFlow® for multiphase flow simulations.

Reservoir Visualisation and Analysis Reservoir engineers need to have a complete overview of the reservoir in order to make informed decisions on the best approach to extracting the hydrocarbon resources.

The answer is to simplify and optimise the task of decision making at the end of the seismic to simulation workflow.

This, in turn, leads to more efficient operations, improved productivity, reduced cycle times, minimised risk and uncertainty through a more holistic view of project resourcing and timing.

Drilling Operations Being able to effectively manage reservoir resources lies at the heart of the success of every exploration and production oil and gas company. The amount of field data at the disposal is increasing year-on-year. Being able to integrate operations through effective data management is critical.

At the same time operations are becoming more disparate as oil companies seek resources in ever more harsh and diverse environments. The scarcity of human resources available to utilise the information makes global collaboration needed as the leverage skills may be spread around an organisation and around the globe.

In order to make better-informed decisions, access to data must be timely, simple and secure. Demands is to gain access to the myriad of data, reports and other field information, making real- time calculations and ultimately real-time decision-making. Effective technology integration is a requirement for future return on investment and improved oil recovery.

Real-Time Drilling Safe and efficient drilling operations rely on excellent communication.

By enabling data capture, viewing and analysis in an independent solution which aggregates the data from multiple companies you will have the right information available to make critical decisions. An independent solution is not an attempt to reduce the value of the data for service providers, rather increase the value for operators.

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Registration Document However, it is the use of the data that is key. SiteCom® enables new cross-operational learning opportunities, improved decision support and more efficient operational management - by both smart human employees as well as SmartAgents, software tools that analyse and use the data.

 Drilling Optimisation  Drilling Visualisation  Improve Well Management and Well Planning  Real-Time Calculations and Real-Time Decisions  Reduce Backlog  Geology Optimisation  Operational Efficiency

Integrated Operations Challenging existing work processes and organisation is the key to success in reaching the ambitions of Integrated Operations.

Kongsberg Drilling Management Solutions has far-reaching competence in optimising real-time drilling processes. By facilitating drilling and operations management, their consultants have the knowledge and experience to assist in the task of improving an operator’s drilling performance.

Integrated Operations is about providing a complete integrated solution to the entire up-stream oil and gas value chain through a blend of world class software products and tailored services, leading to measurable performance improvements. It is undertaken by making use of available technologies for cross-disciplinary collaboration within all business areas, independent of geographical and organisational location.

Rig Operational Management Kongsberg Oil & Gas Technologies enable management to realise significant and sustainable improvements by successfully integrating available technology with work processes and organization – through Integrated Operations.

Integrated Operations Operational performance is fundamental to rig operators to achieve high performance optimized drilling, and detailed planning and extensive monitoring leads to continuous improvements in safety, quality and financial competence. Kongsberg Oil & Gas Technologies help the clients utilizing technology to improve and modernise existing work processes and organization.

Riser Management System Monitoring the riser system is crucial for optimised efficiency and reduced risk in the daily operations.

The Riser Management System is an advisory and monitoring system for optimum handling of the drilling riser.

Rig operators need to be able to measure the responses of all parts of the drilling operation from planning of riser make-up through drilling in varying environmental conditions, including safe and smooth disconnection from the well. Kongsberg Oil & Gas Technologies’ riser management system provides efficient assistance in all these phases for optimum handling of drilling and work-over risers.

Production Optimization Kongsberg Oil & Gas Technologies has developed a full set of production optimization software solutions. They provide operators with accurate, robust, flexible and easy to maintain solutions for monitoring, measurement and management of oil & gas production systems, including flow and riser management and plant production systems.

Flow Assurance Monitoring As the oil and gas industry develops larger diameter flow lines, deeper field developments and harsher environments are becoming the norm for field operators.

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Registration Document At the same time it is critical to be able to monitor the flow of the produced oil and gas. Changes in the rate of flow can point to changes in the reservoir or even equipment failure – both of which can lead to downtime if not resolved quickly. Flow assurance monitoring reduces risk and enhances performance, providing outstanding returns on investment.

Kongsberg Oil & Gas Technologies use LedaFlow® for multiphase flow simulations.’

Overall Flow Metering System Being able to calculate the estimated production and injection rates of oil, gas and water at all key locations in an oil and gas production facility can make the difference between failure and success in complex oil and gas operations.

Kongsberg Oil & Gas Technologies’ Overall Flow Metering Systems (OFMS) or production reconciliation systems are aimed at integrating all available sensors in both the subsea and topside systems. These can then provide a full and detailed dynamic model of the complete process.

The reconciliation system is a powerful tool for allocating production to wells, detecting sensor failure and calculating high-quality estimates of production and environmental performance.

The system is used for reconciliation of all measurement data in field operations - from bottom- hole to the metering skid downstream of the topside process. Kongsberg Oil & Gas Technologies has developed a unique technique based on its high-fidelity, dynamic process simulators and using their expertise in real-time model based support tools for dynamic as well as steady state. Many of these projects incorporate complex multi-phase tie-backs, and hence variations in hold-up and other transient phenomena are key issues to consider when reconciling measurements over.

Production Management System A real-time simulation model running alongside a plant can provide a wide range of information such as the pressure and flow profiles inside a pipe, and is a basic tool for leak detection and hydrate formation.

Kongsberg Oil & Gas Technologies’ process optimisation solution Production Management System (ProdMS) is a virtual “copy” of the plant process. It automatically predicts the future behavior of the process, checks for situations that cause alarms, and notifies the user if such events are found.

Kongsberg Oil & Gas Technologies deliver complete process simulator setups for engineering, DCS checkout, training of operators and process optimisation, including hardware, software, documentation, training courses etc. The solution includes three different modes: Real-Time, look- ahead and planning.

The same model is used in different modes for ease of maintenance. Custom operator stations are built to allow effective monitoring of the whole process. Optionally, a fourth mode can be supplied for process dynamics operator training which includes the shutdown and interlock logic in emulated form.

KONGSBERG DEFENCE SYSTEMS Kongsberg Defence Systems is Norway's premier supplier of defence and aerospace-related systems. The portfolio comprises products and systems for command and control, weapons guidance and surveillance, communications solutions and missiles. Kongsberg Defence Systems also makes advanced composites and engineering products for the aircraft and helicopter market. The Norwegian Armed Forces is the Business Areas most important customer. Whether developed in collaboration with the Norwegian Armed Forces, international partners or alone, the BA's solutions have proven highly competitive internationally. One key element of the Business Areas market strategy is the formation of alliances with major international defence enterprises. All defence-related exports are contingent on the approval of the Norwegian authorities.

Market segments

 Command and weapons control systems: Different types of command and control systems for land- air- and sea-based defence

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Registration Document  Surveillance systems: Maritime and land-based surveillance systems for civilian, military and other public intstallations  Communications solutions: Different types of tactical radio and communications system, predominantly developed and delivered for land based defence  Anti-ship missiles: Penguin anti-ship missiles and the new NSM (Naval Strike Missile)

Kongsberg Norcontrol IT - Maritime Surveillance Solutions Kongsberg Norcontrol IT, a subsidiary of Kongsberg Defence & Aerospace. Kongsberg Norcontrol IT maritime surveillance solutions improve safety, efficiency and security of maritime transportation and its infrastructure by providing optimal situational awareness.

Their solutions are in service with the world's leading maritime coastal organisations, most successful port authorities, and safest offshore operators.

Kongsberg's advanced solutions has been earned through:

 Experience from over 240 deliveries  Ground breaking internal research and development  Challenging and cutting edge projects

Kongsberg Norspace Kongsberg Norspace is a supplier of on-board electronic equipment and components for satellites and launchers. Their primary market is commercial telecommunications satellites.

Kongsberg Norspace are specialised in analogue signal processing equipment, including frequency converters, frequency generator modules and related building blocks. Other major products are Telemetry, Tracking and Command (TTC) equipment. In addition, Kongsberg Norspace is a supplier of Surface Acoustic Wave (SAW) components for satellites.

Kongsberg Satellite Services AS Kongsberg Satellite Services AS (KSAT) is a commercial Norwegian company, uniquely positioned to provide ground station and earth observation services for polar orbiting satellites. With three interconnected polar ground stations; Tromsø at 69°N, Svalbard (SvalSat) at 78°N and Antarctic TrollSat Station at 72°S, and a growing mid-latitude network, KSAT operates over 60 antennas optimally positioned for access to polar orbits.

Kongsberg Spacetec Kongsberg Spacetec is a supplier of ground stations for data acquisition from Earth observation and meteorological satellites, including production of value added applications (optical and SAR).

Their business focus is on delivery of meteorological turnkey ground stations and value added applications, enviromental and surveillance ground station systems, and value added applications, system engineering, training, maintenance and support.

Kongsberg Spacetec provides:

 Meteorological turn-key systems and value added products  Environmental and marine surveillance systems and value added applications  Direct Ingest System  Station Control System  Engineering, installation, training, maintenance and support  Consultancy studies

Kongsberg Gallium For over two decades Kongsberg Gallium, a wholly owned subsidiary of Kongsberg Defence & Aerospace, has focused on the development of commercial off-the-shelf (COTS) software components and tools for high performance, mission-critical applications. Their expertise is rooted in the development of command and control and situational awareness display systems delivered to military and civilian customers worldwide. Today, Kongsberg Gallium's software is found in some of the most performance critical display applications in the world, including air defense, missile

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Registration Document defense, command and control and air traffic control applications. With a singular focus on high performance mission-critical applications, Kongsberg Gallium's products and services are proven to reduce risk in developing display applications to meet the most demanding requirements.

KONGSBERG PROTECH SYSTEMS The business area is weapon control systems with the highly successful PROTECTOR Remote Weapon Station. The KONGSBERG PROTECTOR family with more than 17000 systems sold world wide, represents a wide range of quality products, mounted on multiple platforms. The PROTECTOR family concists of six different versions: M151, M153 (CROWS II), Sea PROTECTOR, Lite, Super Lite and Medium Caliber RWS.

PROTECTOR Remote Weapon Station is designed for small and medium caliber weapons and can be installed on any type of platform; It is a fully stabilized, combat proven system qualified for global operations.

Kongsberg Integrated Tactical Systems (KITS) is located at Bellport, Long Island, NY in USA. Sales offices are established in Virginia Beach and Hereford UK. KITS’ main product area is Vehicle Information & Control Systems (VICS) designed to tie systems and sensors on military platforms together. KITS also provides ruggedized Tactical Systems including Computing, Networking, Displays, Power Management and Intercom Systems.

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8. Administrative, management and supervisory bodies

BOARD OF DIRECTORS KONGSBERG GRUPPEN ASA:

Finn Jebsen - Chairman Born: 1950 Position: Self-employed. Education: Master of Science in Business, Norwegian School of Economics and Business Administration (1974), Master of Business Administration (MBA), University of Los Angeles, California, USA (1976). Other: Previously CEO of the Orkla Group. Member of the Board since 2005 Number of shares in Kongsberg Gruppen ASA: 20 000 (through the wholly-owned company Fateburet*). Directorships outside KONGSBERG: Chair of the Board of Directors in Kavli Holding AS. Deputy Chairman on the Board for KLP Forsikring. Board Member of Berner Gruppen AS, Awilhelmsen Management AS and Norsk Hydro ASA.

Anne-Lise Aukner - Deputy Chair Born: 1956 Position: Chief Executive Officer and Country Manager, Nexans Norway AS. Education: Master of Laws, University of Oslo (1980), Alcatel International Management Programme (1992) and Alcatel PACE Programme (Potential Alcatel Corporate Executives) (1996). Member of the Board since 2009 Number of shares in KONGSBERG: 0 Directorships outside KONGSBERG: Ergo Group ASA, Federation of Norwegian Industries, Europacable Norge AS, INTPOW, Nexans Norway AS and Aukner Holding AS.

Erik Must - Director Born: 1943 Education: Master of Science in Business, Copenhagen School of Economics (1967). Member of the Board since 2005 Number of shares in Kongsberg Gruppen ASA: 400 000 (through Must Invest), 124 600 (personally). Directorships outside KONGSBERG: Chair of the Board in Fondsfinans ASA, Fondsfinans Kapitalforvaltning ASA, Arendals Fossekompani ASA, Gyldendal ASA and Erik Must AS. Board member of Norges Handels- og Sjøfartstidende AS, and the Arentz Legacy.

Irene Waage Basili - Director Born: 1967 Position: Chief Executive Officer, GC Rieber Shipping ASA. Education: Business Administration (International Management), Boston University (1990). Management Programmes at IMD, Lausanne, Switzerland (2005/2006). Solstrand Management Programme, Bergen, Norway (2002/2003). Member of the Board since 2011 Number of shares in KONGSBERG: 0 Directorships outside KONGSBERG: Board member of Odfjell SE and Reef Subsea. Chariman of Octio.

John Giverholt - Director Born: 1952 Position: CFO, Ferd AS. Education: Master of Science in Business, University of Manchester (1976), State Authorised Public Accountant, Norwegian School of Economics and Business Administration (1979). Experience: Managerial positions in Orkla ASA, Den norske Bank ASA and Norsk Hydro ASA. Member of the Board since 2005 Number of shares in Kongsberg Gruppen ASA: 3 200 Directorships outside KONGSBERG: Board member of GIEK.

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Registration Document Roar Marthiniussen - Director (employee representative) Born: 1957 Position: Regional Manager (Asia), Subsea Sales, Kongsberg Maritime AS. Education: Engineer, Horten College of Engineering. Member of the Board since 1999 Been with the Group since 1979 Number of shares in Kongsberg Gruppen ASA: 4 657

Helge Lintvedt - Director (employee representative) Born: 1957 Position: Senior Project Engineer, Kongsberg Defence Systems. Education: Engineer, Kongsberg Ingeniørhøgskole. Member of the Board since 2009 Been with the Group since 1979 Number of shares in Kongsberg Gruppen ASA: 0 Directorships: NITO – The Norwegian Society of Engineers and Technologists, Kongsberg Defence & Aerospace AS. Board member of Kongsberg Defence & Aerospace AS.

Kai Johansen - Director (employee representative) Born: 1967 Position: Trade union leader, Kongsberg Defence & Aerospace AS. Education: Tinius Olsen School and guild certificate as an operator. Member of the Board since 2007 Been with the Group since 1985 Number of shares in Kongsberg Gruppen ASA: 0

Roar Flåthen - Alternate director entitled to attend all meetings of the Board of directors Born: 1950 Position: Leader of the Norwegian Confederation of Trade Unions (Landsorganisasjonen i Norge). Member of the Board since 2012 Number of shares in Kongsberg Gruppen ASA: 0. Directorships outside KONGSBERG: Chair of the Board in Forskningsstiftelsen FAFO and Amedia AS. Deputy Chair of the Board in Bank 1 Oslo og Akershus AS. Board member of Innovasjon Norge AS. In addition Mr. Flåthen is a board member in certain non-commercial organisations.

CORPORATE MANAGEMENT TEAM KONGSBERG GRUPPEN ASA:

Walter Qvam - President and Chief Executive Officer Born: 1953 Education: Master of Science (M.Sc.) from the Norwegian University of Science and Technology (1979), additional education from INSEAD in Singapore (1985). Experience: Has held leading positions with several prominent Norwegian and international businesses that operate in the fields of oil & gas, shipping (DNV - Det Norske Veritas) , IT (Capgemini), transportation (the Norwegian State Railway) and consultancy (Gemini Consulting). Been with the Group since 2007 Number of shares in Kongsberg Gruppen ASA: 5 197 Directorships outside the Group: Chairman of Det Norske Veritas' Council.

Hans-Jørgen Wibstad - Executive Vice President and Chief Financial Officer Born: 1964 Education: Master of Business Administration (MBA) from University of Colorado, Boulder (1990) Experience: Senior Vice President Finance at STX Europe (ex. Aker Yards) and EMT member 2009- 2011. He was CFO of DFDS Lys Line in 2004 and managing director 2005-2009, CFO of Brøvig ASA 2001 and CEO 2001-2003, and CFO of Swan Reefer ASA 1998-2000. In addition, he has been a corporate banker (shipping/offshore) with Credit Agricole Indosuez and Kreditkassen for more than four years, and finance manager of Wilrig ASA 1992-1993. Been with the Group since 2012 Number of shares in Kongsberg Gruppen ASA: 389 Directorships outside the Group: None

Geir Håøy - Executive Vice President, KONGSBERG - President, Kongsberg Maritime Born: 1966

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Registration Document Education: Engineer from Vestfold University College (1989). Experience: Broad international experience from different positions in Kongsberg Maritime. He has, among other positions, been head of Kongsberg Maritime's activities in Singapore and South-Korea (Busan). Been with the Group since 1993 Number of shares in Kongsberg Gruppen ASA: 631 Directorships outside the Group: 0

Harald Ånnestad - Executive Vice President, KONGSBERG - President, Kongsberg Defence Systems Born: 1960 Education: Graduate Engineer from the Norwegian University of Science and Technology (1984). Experience: Began his professional career in AS Kongsberg Våpenfabrikk, where he has had several managerial positions. Been with the Group since 1986 Number of shares in Kongsberg Gruppen ASA: 3 573 Directorships outside the Group: 0

Egil Haugsdal - Executive Vice President, KONGSBERG - President, Kongsberg Protech Systems Born: 1961 Education: Mechanical Engineer from Gjøvik University College. Experience: Began his professional career in AS Kongsberg Våpenfabrikk, followed by ten years of managerial positions within logistics and production in ABB. Been with the Group since 1996 Number of shares in Kongsberg Gruppen ASA: 9 589 Directorships outside the Group: 0

Pål Helsing - Executive Vice President, KONGSBERG - President, Kongsberg Oil & Gas Technologies Born: 1960 Education: Engineer from Oslo College of Engineering (1981), Graduate Engineer from Glasgow University, Scotland (1985), and Business Economist from the Norwegian School of Management (1991). Experience: Former Senior Vice President for Strategy and Development within Corporate Management in Aker Solutions. Began his professional career as an engineer in Kongsberg Offshore (former Kongsberg Våpenfabrikk). Been with the Group since 2009 Number of shares in Kongsberg Gruppen ASA: 0 Directorships outside the Group: Chair of INTSOK.

Hilde Øygarden - Executive Vice President, Head of Strategy and Analysis Born: 1965 Education: Economist from the Norwegian School of Management BI (1991), Master of Management Programmes at the Norwegian School of Management BI (1994/96). Experience: Began her professional career in Kongsberg Våpenfabrikk AS, where she has had severeal positions within finance/administration. Been with the Group since 1985 Number of shares in Kongsberg Gruppen ASA: 4 031 Directorships outside the Group: None

Even Aas - Executive Vice President, Public Affairs Born: 1961 Education: Economist from the University of Oslo (1988). Experience: Formerly employed by the Norwegian Confederation of Trade Unions, political adviser and later state secretary for commerce and shipping in the Ministry of Foreign Affairs. Also worked for Telenor. Been with the Group since 1998 Number of shares in Kongsberg Gruppen ASA: 10 981 Directorships outside the Group: Chair of Maritime Forum and Expo 2012 Norway.

Stig Trondvold - Executive Vice President, Corporate Business Development Born: 1953

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Registration Document Education: Graduate Engineer from the Norwegian University of Science and Technology (1976), and an MBA from IMD in Switzerland (1984). Experience: Began his professional career in SINTEF, followed by severeal managerial posititions in AS Kongsberg Våpenfabrikk, Kongsberg Automotive AS and Kongsberg Techmatic AS. Been with the Group since 2000 Number of shares in Kongsberg Gruppen ASA: 14 773 Directorships outside the Group: Kongsberg Innovasjon AS (Chair of the Board of Directors).

Johnny Løcka - Executive Vice President, Corporate Functions Born: 1960 Education: Norwegian Army Military Academy (1984), Norwegian Defence Staff College (1990). Experience: Former President of Kongsberg Teknologipark AS, and has previously been Vice President, Business Support at Kongsberg Defence & Aerospace AS. Been with the Group since 1996 Number of shares in Kongsberg Gruppen ASA: 957 Directorships outside the Group: 0

Lene Svenne - Corporate Compliance Officer Born: 1962 Education: Certified Public Accountant (1993), Certified Internal Auditor IIA (2009), The Norwegian Defence College, Management Program (2009). Experience: Chief Audit Executive in Norwegian Armed Forces from 2006 to 2010, formerly Certified Public Accountant in various auditing firms and by the Norwegian tax authority. Been with the Group since 2010 Number of shares in Kongsberg Gruppen ASA: 957 Directorships outside the Group: none.

NOMINATING COMMITTEE The Nominating Committee’s duty is to nominate candidates to the general meeting for the shareholder-elected directors’ seats including substitutes. The basis for the nomination shall be described and particularly with respect to the nomination of the Chairman of the Board. In addition, the Nomination Committee shall submit proposals for remuneration of Board members and substitutes, and make an annual evaluation of the work of the Board.

The committee consists of: • Knut J. Utvik, deputy director general, Ministry of Trade and Industry • Alexandra Morris, portfolio manager, ODIN Forvaltning • Sverre Valvik, managing director, Arendals Fossekompani ASA. Valvik is chair of the Committee.

AUDIT COMMITTEE The Audit Committee has responsibilities related to financial reporting, the external auditor, internal audits and risk management.

The committee consists of: • John Giverholt (Chair) • Anne- Lise Aukner • Kai Johansen

All the members of the board, management and committees can be reached at the Company’s head office, Kirkegårdsveien 45, 3616 Kongsberg, Norway.

Other than the above mentioned ownerships positions, and to the best of Kongsberg Gruppen ASA’s knowledge, there are no conflicts of interests between any duties to the issuing entity of the persons referred to above and their private interests or other duties.

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9. Major shareholders The Company's share capital is NOK 150 000 000, divided into 120 000 000 shares with a nominal value of NOK 1,25. The Company's shares are registered in the Norwegian Registry of Securities. The shares are listed on Oslo Børs under the ticker KOG with ISIN NO0003043309.

The 20 largest shareholders in Kongsberg Gruppen ASA per 05.11.2012:

Investor Number of shares % of top 20 % of total Country NÆRINGS- OG HANDELSDEPARTEMENTET 60 001 600 59.12% 50.00% NOR FOLKETRYGDFONDET 10 379 462 10.23% 8.65% NOR ARENDALS FOSSEKOMPANI ASA 9 552 796 9.41% 7.96% NOR MP PENSJON PK 4 812 800 4.74% 4.01% NOR SKAGEN VEKST 3 110 267 3.06% 2.59% NOR JPMORGAN CHASE BANK 1 984 550 1.96% 1.65% GBR ODIN NORGE 1 738 877 1.71% 1.45% NOR ODIN NORDEN 1 682 738 1.66% 1.40% NOR ORKLA ASA 1 379 545 1.36% 1.15% NOR DANSKE INVEST NORSKE INSTIT. II. 938 613 0.92% 0.78% NOR BNP PARIBAS SECS SERVICES PARIS 882 070 0.87% 0.74% GBR DANSKE INVEST NORSKE AKSJER INST 848 344 0.84% 0.71% NOR REASSURE LIMITED 828 000 0.82% 0.69% GBR MONTAGUE PLACE CUSTODY SERVICES 689 293 0.68% 0.57% GBR THE NORTHERN TRUST CO. 628 662 0.62% 0.52% GBR ODIN OFFSHORE 455 500 0.45% 0.38% NOR STATE STREET BANK & TRUST CO. 425 970 0.42% 0.35% USA MUST INVEST AS 400 000 0.39% 0.33% NOR KLP AKSJE NORGE INDEKS VPF 380 550 0.37% 0.32% NOR STATOIL PENSJON 375 692 0.37% 0.31% NOR Total number owned by top 20 101 495 329 100 % 84.58% Total number of shares 120 000 000 100 %

The Government as customer and shareholder The Norwegian Government has a stake of 50.00 per cent of The Company at the same time as it is a major account, especially with a view to deliveries to the Norwegian Armed Forces. Relations with the Armed Forces are purely of a commercial nature and are not affected by the ownership structure.

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10. Financial information concerning the issuer's assets and liabilities, financial position and profits and losses

The financial information for the Group has been prepared in accordance with International Financial Reporting Standards, IFRS. Annual accounts for Kongsberg Gruppen ASA have been prepared in accordance with the Norwegian Accounting Act and Norwegian generally accepted accounting principles.

The financial information is incorporated by reference to as follow:

Financial reports 2011 2010 Q3 2012 Q3 2011 Kongsberg Gruppen ASA - Parent Income statement Page 55 Page 53 Balance sheet Page 55 Page 53 Cash flow statement Page 56 Page 54 Notes Page 57-60 Page 55-58

Kongsberg Gruppen ASA - Group Income statement Page 18 Page 17 Page 13 Page 7 Balance sheet Page 19 Page 18 Page 14 Page 7 Cash flow statement Page 21 Page 20 Page 15 Page 8 Notes Page 22-54 Page 21-52 Page 16-17 Page 9-10 Accounting principles Page 22-28 Page 21-26 Page 16 Page 9 Auditors report Page 62-63 Page 59-60 http://www.kongsberg.com/en/kog/investorrelations/reportsandpresentations/ http://www.kongsberg.com/en/kog/investorrelations/reportsandpresentations/~/media/KOG/Files/ Investor/Quarterly%20reports/2012/Q3/Q3_2012_english.ashx http://www.kongsberg.com/sitecore/shell/Controls/Rich%20Text%20Editor/~/media/KOG/Files/In vestor/Quarterly%20reports/2011/Q3/Q311_KOG_rapport_Eng.ashx

The historical financial information for 2011 and 2010 has been audited. The historical financial information for the interim reports has not been audited.

There are no governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened of which the Issuer is aware), during a period covering at least the previous 12 months which may have, or have had in the recent past, significant effects on the Issuer and/or Group's financial position or profitability.

In September the Company issued two bonds in the Norwegian bond market. NOK 500 mill with maturity in September 2017, priced at 3 months NIBOR plus 180 basis points and NOK 250 mill with maturity in September 2019, with a coupon rate of 4,80% p.a.

Other than the above mentioned bond Issues, there is no significant change in the financial or trading position of the Group which has occurred since the end of the last financial period for which either audited financial information or interim financial information have been published. And there has been no material adverse change in the prospects of the Issuer since the date of its last published audited financial statements.

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11. Documents on display

For the life of the registration document the following documents (or copies thereof), where applicable, may be inspected:

(a) the memorandum and articles of association of the issuer; (b) all reports, letters, and other documents, historical financial information, valuations and statements prepared by any expert at the issuer's request any part of which is included or referred to in the registration document; (c) the historical financial information of the issuer or, in the case of a group, the historical financial information of the issuer and its subsidiary undertakings for each of the two financial years preceding the publication of the registration document.

The documents may be inspected at www.kongsberg.com or at the Issuer head office, Kirkegårdsveien 45, 3616 Kongsberg, Norway.

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12. Cross reference list:

In section 6 in the Registration Document information regarding the group companies are incorporated by reference to the Annual Report 2011 – note 30.

In section 10 in the Registration Document the financial information is incorporated by reference to as follow:

Information concerning 2011 is incorporated by reference from Kongsberg Gruppen ASA – Annual Report 2011. Information concerning 2010 is incorporated by reference from Kongsberg Gruppen ASA– Annual Report 2010. Information concerning Q3 2012 is incorporated by reference from Kongsberg Gruppen ASA– Q3 report 2012. Information concerning Q3 2011 is incorporated by reference from Kongsberg Gruppen ASA– Q3 report 2011.

The financial reports are available at: http://www.kongsberg.com/en/kog/investorrelations/reportsandpresentations/ http://www.kongsberg.com/en/kog/investorrelations/reportsandpresentations/~/media/KOG/Files/ Investor/Quarterly%20reports/2012/Q3/Q3_2012_english.ashx http://www.kongsberg.com/sitecore/shell/Controls/Rich%20Text%20Editor/~/media/KOG/Files/In vestor/Quarterly%20reports/2011/Q3/Q311_KOG_rapport_Eng.ashx

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