Veidekke

Earnings Release • Jan 19, 2024

Veidekke: Historic construction project in Oslo

Veidekke: Historic construction project in Oslo

Veidekke's subsidiary Seby AS has signed a contract with Ekebergveien 1 AS

(Clemens Eiendom and the Oslo Hospital Foundation) to expand and rehabilitate

the Oslo Hospital property in the Gamlebyen district of Oslo. The contract is a

design and build contract valued at NOK 407 million excluding VAT.

The project includes complete rehabilitation of the existing building stock of

4,000 m2 in addition to the construction of 5,300 m[2] of new builds. Oslo

Hospital is built on the site of a Franciscan monastery from the 1200s, and has

from the 1500s until 2018 served as an infirmary and psychiatric hospital. Upon

completion, the buildings will accommodate modern office premises, including for

the co-location of church and Christian organizations in Oslo.

General manager Bjørn Ove Liavaag of Seby AS is pleased with getting started

with the construction work: "This interaction project has been under development

for almost two years, and we are pleased that we can now embark on the next

phase together with the client. Sustainable solutions throughout the

construction process are in line with Seby and Veidekke's environmental

ambitions, so we really appreciate this unique commission on historic ground,"

Liavaag concludes.

The planned new build will be environmentally certified according to BREEAM NOR

Very Good, while the entire building stock will be certified according to BREEAM

In-Use. Construction will start immediately, with completion in July 2026.

The commission is included in Veidekke's order book for the fourth quarter 2023.

For further information, please contact:

General manager Bjørn Ove Liavaag, tel. +47 90 69 35 77, bjorn

-ove.liavaag@veidekke.no

Communications Manager Helge Dieset, tel. +47 90 55 33 22,

helge.dieset@veidekke.no

Veidekke's press photos (https://urldefense.proofpoint.com/v2/url?u=https

-3A__publish.ne.cision.com_l_rgogvhhfc_veidekke.fotoware.cloud_fotoweb_archives_5

028-2DPressebilder-2DVeidekke&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf

-v5A_CdpgnVfiiMM&r=ovbabqGKDpqANTMEcsMzz-9gUee7B3zUc45MCxMEFGk&m=i

-n8T3KMESZQwOxqk

-nBbqrnaG4OsY3JhJihjj7WFdg&s=IDvroF98t_qnTa8RmB8ZqNNa6arSSm5M7FH2pjaZjsA&e=)

Subscribe to messages from

Veidekke (https://urldefense.proofpoint.com/v2/url?u=http

-3A__publish.ne.cision.com_l_rgogvhhfc_veidekke.com_no_borsmeldinger_abonner

-2Dpa-2Dmeldinger&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf

-v5A_CdpgnVfiiMM&r=ovbabqGKDpqANTMEcsMzz-9gUee7B3zUc45MCxMEFGk&m=i

-n8T3KMESZQwOxqk-nBbqrnaG4OsY3JhJihjj7WFdg&s=DLoCklEaGhEmoSc8K

-AtVjORmjflxPt6VFIyRt6vzlM&e=)

Veidekke is one of Scandinavia's largest construction and property development

companies. The company undertakes all types of building construction and civil

engineering contracts, develops residential projects, maintains roads, and

produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and

local experience. Annual turnover is approximately NOK 39 billion and around

half of its 8600 employees own shares in the company. Veidekke is listed on the

Oslo Stock Exchange and has always posted a profit since it was founded in 1936.