Veidekke

Veidekke ASA: Upcoming changes to the board of directors

The board chair of Veidekke ASA, Svein Richard Brandtzæg, has informed the

nomination committee that he wishes to resign from his position as board chair

at the 2022 annual general meeting. Veidekke's nomination committee will

nominate Gro Bakstad for the board chair position. Elections take place at

Veidekke's Annual General Meeting on 8 May 2022.

Svein Richard Brandtzæg serves as vice chair of the board of DnB Bank ASA and is

subject to the Regulations on Financial Institutions and Financial Groups

(Financial Institutions Regulations) Section 9-2, which limits the number of

board positions a board member in financial undertakings is permitted to hold.

Brandtzæg currently has a temporary dispensation from Finanstilsynet to hold

five board positions until the spring of 2022. After Veidekke's Annual General

Meeting, he will be compliant with the regulation limiting the maximum number of

positions to four.

Veidekke's nomination committee will nominate Gro Bakstad for the position of

board chair. The election of a new board chair will take place at Veidekke's

Annual General Meeting on 8 May 2022.

Gro Bakstad (55) has been a member of Veidekke's board of directors since 2010.

Bakstad is a graduate economist and state-authorised public accountant from

Norwegian School of Economics and Business Administration. She is the CEO of Vy

Group and has extensive experience from financial and management positions in

i.a. Ocean Rig and ProCorp, and the Norway Post group management team. Bakstad

is also a board member of DNB Bank ASA.

For more information, contact:

Jørgen Wiese Porsmyr, CFO, ph. +47?907 59 058

Veidekke press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028

-Pressebilder-Veidekke/)

Subscribe to notices from Veidekke (http://veidekke.com/no/borsmeldinger/abonner

-pa-meldinger/)

Veidekke is one of Scandinavia's largest contractors. In addition to undertaking

all types of building and civil engineering assignments, the group also

maintains roads and produces asphalt and aggregates. Veidekke emphasises

stakeholder involvement and local experience. Its annual turnover is

approximately NOK 38 billion, and half of its 8,000 employees own shares in the

company. Veidekke is listed on the Oslo Stock Exchange, and has posted a profit

every year since its inception in 1936.

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