Veidekke

Earnings Release • Sep 21, 2021

Veidekke ASA: Renovation and extension of Oslo school

Veidekke ASA: Renovation and extension of Oslo school

Working on behalf of the newly-formed real estate company Oslobygg KF, Veidekke

is to fully renovate three heritage protected buildings at Hartvig Nissen upper

secondary school, in addition to constructing two new buildings that will

achieve the Passivhaus Standard for use by drama and PE. The contract is

structured as a collaborative construction project with a target price of NOK

550 million excluding VAT.

Hartvig Nissen upper secondary school has been located in the Frogner district

of Oslo since the late nineteenth century. The school made famous by the TV

series 'Skam' will now see its three heritage protected buildings undergo full

decontamination and renovation, with work covering a total area of 9,100 m[2].

Veidekke will also construct two new buildings with a total area of 3,600m[2]

which will achieve the Passivhaus Standard: the first will be a drama building

featuring studios and a canteen, while the second will be a PE building located

beneath the school yard featuring gymnasium areas, changing rooms, technical

rooms, etc. The school yard will be upgraded to form a new urban space linking

the school buildings together, while President Harbitz gate will be closed as a

through road, instead becoming an integrated part of the school yard.

'We are so grateful for the vote of confidence. It is a real honour to be the

first company to win a construction commission from the new kid on the block,

Oslobygg KF. Building good schools is one of the most important things we can do

as construction professionals, so we are really looking forward to giving three

venerable old buildings some TLC, constructing to new sustainable buildings and

creating a new outdoor area that will benefit pupils, teachers and other school

users,' says Rune Andersstuen, Head of the Rehab Department at Veidekke Bygg

Oslo.

The project will be subject to strict environmental requirements as it is due to

be delivered as a fossil-fuel free construction site (as is the case with all

Veidekke construction projects in the city of Oslo). The new builds will achieve

the Passivhaus Standard, while in the case of the outdoor facilities the use of

wood and dealing with drainage are both key factors.

Design work starts immediately, while construction work will start in Q4 with

completion scheduled for spring 2025. Further information about the school is

available here (in Norwegian): https://hartvig-nissen.vgs.no/

For more information please contact:

Rune Andersstuen, Head of Rehab at Veidekke Bygg Oslo, tel. +47 91 83 33 80,

rune.andersstuen@veidekke.no

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

helge.dieset@veidekke.no

Trond Ottersen, Communications at Oslobygg, tel. +47 95 84 07 58,

trond.ottersen@obf.oslo.kommune.no

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

-Pressebilder-Veidekke/)

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Veidekke is one of Scandinavia's largest contractors. The company undertakes all

types of construction and civil engineering contracts, maintains roads, and

produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and

local experience. Its annual turnover is approx. NOK 38 billion, and around half

of its 8,100 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.