Veidekke

Share Issue/Capital Change • Nov 25, 2019

VEIDEKKE ASA: Sucessfully completed share issue directed towards employees

VEIDEKKE ASA: Sucessfully completed share issue directed towards employees

- Allocation to primary insiders

Reference is made to the announcement published 13 November 2019 by Veidekke

regarding commencement of the subscription period for shares in the employee

share purchase program.

Veidekke hereby announce that the share issue directed towards employees is

successfully completed.

The subscription period expired on 22 November 2019

The subscription price is set to NOK 91,96 per share, corresponding to the

volume-weighted average share price on the Oslo Stock Exchange in the

subscription period with at deduction for a discount of 20%. The shares are

blocked for a period of two years.

A total of 1,257,425 new shares was allocated in the share issue. A total of

2,170 employees were allotted shares.

The new shares are expected to be issued on or about 20 December 2019. Provided

timely payment, delivery of the shares are expected to be made between 21-31

December 2019. Notifications of allocated shares, and the corresponding amount

to be paid, are expected to be communicated on or about 28 November 2019.

Employees having access to investor services through their VPS account manager

will be able to check the number of shares allocated to them when shares are

issued and registered in VPS(the Norwegian CSD)

After the registration of the new shares, the total number of shares in Veidekke

ASA will increase by 1,257,425 shares to 134,962,367 shares.

Subscription by and allocation to primary insiders

The following primary insiders have subscribed and been allocated shares in the

share issue directed towards employees:

-   Catharina Bjerke subscribed for 1,500 shares and was allocated 1,500 shares

at NOK 91,96 per share. Catharina Bjerke now holds 7,085 shares and 1,000

options in Veidekke.

-   Terje Larsen subscribed for 900 shares and was allocated 900 shares at NOK

91,96 per share. Terje Larsen now holds 111,475 shares and 1,000 options in

Veidekke.

-   Øivind Larsen subscribed for 1,000 shares and was allocated 1,000 shares at

NOK 91,96 per share. Øivind Larsen now holds 8,100 shares and 1,000 options in

Veidekke.

-   Mats Nyström subscribed for 1,500 shares and was allocated 1,500 shares at

NOK 91,96 per share. Mats Nyström now holds 20,000 shares and 1,000 options in

Veidekke.

-   Hans Olav Sørlie subscribed for 1,000 shares and was allocated 1,000 shares

at NOK 91,96 per share. Hans Olav Sørlie now holds 71,090 shares and 1,000

options in Veidekke.

-   Anne Thorbjørnsen subscribed for 500 shares and was allocated 500 shares at

NOK 91,96 per share. Anne Thorbjørnsen now holds 29,355 shares and 1,000 options

in Veidekke.

-   Inge Ramsdal subscribed for 300 shares and was allocated 300 shares at NOK

91,96 per share. Inge Ramsdal now holds 8,295 shares and 0 options in Veidekke.

-   Arve Fludal subscribed for 900 shares and was allocated 900 shares at NOK

91,96 per share. Arve Fludal now holds 8,940 shares and 1,000 options in

Veidekke.

-   Odd Andre Olsen subscribed for 700 shares and was allocated 700 shares at

NOK 91,96 per share. Odd Andre Olsen now holds 4,805 shares and 0 options in

Veidekke.

For more information, please contact:

Finance Director Jørgen G. Michelet, tel. +47 917 43 856,

jorgen.michelet@veidekke.no

This information is subject to a disclosure duty pursuant to section 5-12 of the

Securities Trading Act.

About Veidekke:

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. The company is known for its involvement and

local knowledge. Its annual turnover is approximately NOK 36 billion, and half

of its 8,600 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.