Selvaag Bolig ASA

Earnings Release • Jul 3, 2023

Selvaag Bolig ASA: Q2 2023: Sold 251 homes worth NOK 1.44 billion in the first half of 2023

Selvaag Bolig ASA: Q2 2023: Sold 251 homes worth NOK 1.44 billion in the first half of 2023

Selvaag Bolig sold 99 homes worth NOK 564 million in the second quarter of

2023. Sales for the first half totalled 251 homes worth NOK 1 438 million.

"The housing market has been better so far this year than in the last half of

2022. Our sales are lower than in corresponding periods in previous years, but

relatively good considering the market conditions," says CEO Sverre Molvik.

"Although there is a great need for housing in our core areas, we expect that

the interest rate increases will lead to a quiet market for new housing also

in the second half of the year. However, we are well positioned. We have

several hundred homes for sale and can start selling completely new projects

when the market improves."

Net sales for the quarter, adjusted for Selvaag Bolig's share of joint

ventures, came to 79 homes worth NOK 440 million in the second quarter, and

195 worth NOK 1 098 million for the first half.

The company started construction of 83 homes net during the quarter, completed

162 and delivered 155 to the buyer. During the first half, it started

construction of 88 homes, completed 323 and delivered 305 to the buyer. At 30

June, Selvaag Bolig had 1 018 homes under construction and 43 completed units

which remained unsold.

Net sales for the second quarter of 2022 amounted to 120 homes worth NOK 634

million, while gross sales came to 139 units with a combined value of NOK 751

million. The corresponding figures for the first half of last year were 321

homes worth NOK 1 667 million net, and 410 units with a combined value of NOK

2 152 million gross.

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About Us

Selvaag Bolig ASA is a residential property developer controlling the entire

value chain from acquisition of land to sale of homes. The company has several

thousand homes under development at any given time, and focuses on the growth

areas in and around Greater Oslo, Bergen, Stavanger, Trondheim and Stockholm.

Selvaag Bolig represents a continuation of Selvaag's 75-year history and

experience, and offers a broad variety of property types. The company is

headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

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This release was distributed by Kristoffer Gregersen, EVP communications and

sustainability, Selvaag Bolig ASA.

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For further information:

Sverre Molvik, CEO

Telephone: +47 40 10 05 85, e-mail: smo@selvaagbolig.no

Christopher Brunvoll, CFO

Telephone: +47 98 82 92 22, e-mail: chbr@selvaagbolig.no

(mailto:chrb@selvaagbolig.no)

Kristoffer Gregersen, EVP communications, sustainability and corporate

strategy,

Telephone: +47 95 77 55 93, e-mail: kgr@selvaagbolig.no