Veoneer, emotion3D and AVL develop personalized restraint control technology - a new level of automotive safety

STOCKHOLM,April 22,2021 --The automotive technology company Veoneer,Inc. (NYSE: VNE and SSE: VNE SDB),emotion3D,a leading pioneer in camera-based in-cabin monitoring software solutions,and AVL,a global leader in automotive development,testing and simulation,today announced their collaboration to develop the world's first personalized and situation-aware restraint control technology system.

Current passive safety systems,such as airbags follow a"few-sizes-fit-all"development approach and thus perform best for a small number of specified body physiques – the most common one is the "average male": 175 cm,78 kg. This is suboptimal for everybody who deviates from these averages – children,elderly people and even woman. A study conducted by the University of Virginia found that seatbelt-wearing female occupants are 73% more likely to suffer from serious injuries than seatbelt-wearing male occupants. As long as passive safety systems cannot distinguish between the occupant's individual characteristics it is impossible to achieve optimal protection for everybody.

The "Smart-RCS" project is conducted within the European Commission's Horizon 2020 Fast Track to Innovation funding program.

Over the next 24 months,the project partners will develop an innovative restraint control system able to personalize the actions of passive safety systems in event of a crash. Using a 3D sensor for understanding the vehicle interior,the system will consider a wide range of relevant,personal and situational factors such as body physique,position and pose,weight and gender.

"Smart-RCS will provide personalized and situation-aware protection for everybody. This is an important step to increase safety for everyone in the car," says Tom Herbert,Product Director at Veoneer.

"The project consortium combines all expertise required to build such a ground-breaking innovation and to make it ready for automotive production." says Florian Seitner,CEO of emotion3D.

"The introduction of personalized restraint control systems will require to break new ground also in terms of testing and validation methodologies. "We at AVL are excited to contribute our technology and expertise in automotive testing and validation to this project." says Theodor Sams,Head of Research and Innovation at AVL.

Learn more on the project's web site: www.smart-rcs.eu

For more information please contact:

Thomas Jönsson,EVP Communications & IR,

thomas.jonsson@veoneer.com

tel +46 (0)8527762 27

Veoneer,Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design,develop,and manufacture 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 7,500 employees in 11 countries. In 2020,sales amounted to $1.37 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..

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