Veoneer Begins Production of Technology Suite for Polestar 2

STOCKHOLM,May 6,2020 -- The automotive technology company Veoneer,Inc. (NYSE: VNE and SSE: VNE SDB),launches its state-of-the-art suite of collision mitigation technology on the new fully electric Polestar 2.

Veoneer begins production of its advanced sensing technology and software enabling the Polestar 2 to become a leader in the next generation of car safety. The system allows the Polestar 2 to gather information and data about its surroundings and the trajectory of vehicles around it to assist drivers to avoid potentially hazardous situations.

Key components of the technology suite include Veoneer's 4th generation mono vision system,77GHz front radar,and a state-of-the-art ADAS Electronic Control Unit (ECU). The Polestar 2 is the first vehicle to use the Zenuity sensor fusion software platform enabling industry-leading features like object detection,lane keeping aid,forward collision warning,adaptive cruise control,autonomous emergency braking,and traffic assist.

Veoneer's front 77 GHz radar unit and windshield-mounted mono vision camera keeps the Polestar 2's eyes on the road to take preventative measures whenever something encroaches on its path ahead. Everything from disabled cars to pedestrians can be noticed by the Polestar 2,which then warns the driver (via a brake pulse,audio warning signal,and visual warning signal in the driver display) and then brakes automatically if needed. Automatic pre-braking,steering support,and incrementally tightening seatbelts also come into play,maximizing safety for the occupants.

Veoneer's 4th generation mono vision systemis designed with a 100-degree field-of-view and 1.7 megapixel resolution to support ADAS features necessary to achieve 5-star ratings for Euro NCAP. The system is comprised of fully integrated hardware and algorithms using deep learning technologies that identifyobjects such as cars,road markings,or road signs.

Veoneer's newest generation of 77GHz radars have improved performance and provide reliable and accurate situational awareness of objects surrounding the vehicle. Veoneer's radar design has improved waveform and operates at extended ranges needed to achieve 5-star ratings for Euro NCAP.Veoneer's ADAS ECU is the "ADAS brain" of the vehicle which hosts a sophisticated software feature stack along with feature software from other sensors to interpret the situation around the vehicle,and trigger ADAS features such as emergency braking or cross traffic alert. Veoneer's ADAS ECU is designed to be an open scalable hardware and software architecture that hosts algorithms.

"We are excited to start deliveries of Veoneer's 4th generation mono vision cameras,upgraded 77GHz radars,ADAS ECUs and industry-leading feature software on the all-new Polestar 2,allowing drivers to interact with the Polestar and its surroundings in an advanced new way," says Jan Carlson,Veoneer Chairman,President and CEO. "Veoneer is proud to bring new levels of safety and convenience to car drivers and occupants across the globe and the Polestar 2 is the first vehicle equipped with these advanced systems."

Veoneer,Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design,manufacture and sell state-of-the-art software,hardware and systems for occupant protection,advanced driving assistance systems,and collaborative and automated driving to OEMs globally. Headquartered in Stockholm,Sweden,Veoneer has 7,600 employees in 13 countries. In 2019,sales amounted to $1.9 billion. The Company is building on a heritage of close to 70 years of automotive safety development. In 2018,Veoneer became an independent,publicly traded company listed on the New York Stock Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE SDB).

Safe Harbor Statement: This release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities,events or developments that Veoneer,Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations,various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However,there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks,uncertainties and other factors which may cause actual future results,performance or achievements to differ materially from the future results,performance or achievements expressed in or implied by such forward-looking statements. Numerous risks,uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements,including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document,we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995,and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events,except as required by law.

For more information,please contact:

Thomas Jonsson

EVP Communications & IR

tel +46 (0)8527762 27Ray Pekar

VP Investor Relations

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