Together towards gold in Paris 2024

Kongsberg Gruppen (KONGSBERG) has signed an agreement to be a main partner of Summit 2024, a new initiative to lift ten selected sports to success at the Olympic Games and Paralympics in Paris in 2024. The collaboration will contribute to lifting Norwegian sporting achievements to medals in Paris through, among other things, using the group's world-leading technology expertise.

Summit 2024 is The Norwegian Olympic and Paralympic Committee and Confederation of Sports’ newly established initiative to lift ten selected sports towards medals and success in the Summer Olympics  and Paralympics in Paris in 2024. The collaboration includes ten sports with para sports, which amounts to a total of 130 athletes who will fight for a starting place and ultimately medals in the Olympics and Paralympics.

“Winning on the international stage requires world-class dedication and determination. As with our Olympians, KONGSBERG is also a flagship that leads the way and shows what it takes to reach the very top international level. I am very happy to have KONGSBERG on the team leading up to Paris in 2024 and that together we will facilitate world-class performances,” says Tore Øvrebø, leader of Olympiatoppen, who has the responsibility for training Norwegian elite sport.

International performance culture in both sport and business

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The sports included in Summit 2024 are swimming, martial arts, paddling, triathlon, sailing, rowing, wrestling, shooting, skateboarding and table tennis. By being a partner for Summit 2024, KONGSBERG also becomes a sponsor for the individual Norwegian sporting associations that are part of the initiative.

“Norway has long and proud traditions in sports, and as a relatively small nation, we have managed to assert ourselves against much larger nations in the Olympic and Paralympics Games. The Norwegian model of collaboration, whether in sport or in business, has been a pillar of Norway's international success”, says Geir Håøy, CEO of Kongsberg Gruppen.

“Summit 2024 is a project that will both strengthen top sporting performances and cultivate the diversity of sports. The ten sports involved in the project are sports that have limited resources, but with highly motivated athletes who train and put in at least as much effort as the more high-profile sports and athletes. KONGSBERG is dedicated to contributing to that effort”, says Håøy.

- Fantastic ambassadors for dedication and targeted effort

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Håøy points out that sport is an important inspiration for business through extreme performance culture. This performance culture is crucial to succeed in increasingly sharper international competition, whether it is in sports or business.

“Our athletes are fantastic ambassadors who show how dedicated efforts can lead to international success. We in the KONGSBERG share the same dedication for world class and international success, which we have done for over 200 years. Norwegian sports heroes are also an important inspiration for children and young people. Medal achievements in Paris will help a whole generation gain motivation and inspiration so that they too can one day compete at the highest level. A strong performance culture in sport also spills over into society as a whole. Now we are joining forces so that together we can make further progress at the international top level in both sports and business. It is a battle for margins in both arenas”, says Håøy.

Access to world-leading technologists and technology

An important element of the collaboration is the potential establishment of a technology project. With its world-leading expertise in a number of technology areas, KONGSBERG can engage some of its leading technologists and skilled workers to collaborate with selected sports and athletes.

“We have world-leading expertise in a number of areas that Norwegian sports and athletes can benefit from. Among other things, we have world-leading material expertise that could be relevant for several sports. We also have some of the world's foremost experts in maritime technology who also could be an exciting opportunity to explore”, says Håøy.

Summit 2024: One team. Ten sports. 130 athletes

Summit 2024 connects athletes with supporters to finance the road to Paris 2024. The project is a national effort between business, the public and athletes. The contributions finance equipment, trainers and training camps in the pursuit of the margins. The goal is a national boost to create success during the 2024 Summer Olympics.

Olympiatoppen

In the Norwegian Sports Confederation, Olympiatoppen has the operational responsibility and authority to develop Norwegian elite sport. The elite sports investment takes place through the national team model, where the individual sports federations are responsible for their own top sports, while Olympiatoppen has overall responsibility for the development of results in Norwegian elite sports. Olympiatoppen has implementation responsibility for Norway's participation in the Olympic and Paralympic Games.

KONGSBERG

KONGSBERG (OSE-ticker: KOG) is an international, leading global technology corporation delivering mission-critical systems and solutions with extreme performance for customers that operate under extremely challenging conditions. We work with nations, businesses and research environments to push the boundaries of technology development in industries such as space, offshore and energy, merchant marine, defence and aerospace, and more. KONGSBERG has about 11,000 employees located in more than 40 countries, creating a total revenue of NOK 27.5bn in 2021.

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Contact:

Ronny Lie

Vice President and Chief Communication Officer

Kongsberg Gruppen ASA

(+47) 91 61 07 98

ronny.lie@kog.kongsberg.com

Tore Øvrebø

Leader of Olympiatoppen

Olympiatoppen

(+47) 419 00 364

tore.ovrebo@olympiatoppen.no