AF Gruppen

Share Issue/Capital Change • Oct 12, 2017

Share issue and sale of shares

Share issue and sale of shares

The Board of Directors of AF Gruppen ASA (AFG) has decided to go

through with the Company's share purchase program for employees.

543 employees have subscribed a total of 1,000,000 shares. The

shares are subscribed at a price of NOK 115.80 per share, which

corresponds to a 20 per cent discount compared to the average market

price during the subscription period.

In connection with this, the Board has decided to sell 221,112 of

the Company's own shares. The Company's holding of own shares after

this transaction will be 0 shares.

The Board has also decided to issue 778,888 shares towards Company

employees, in accordance with the Power of Attorney given by the

General Assembly 12 May 2017.

The Company's share capital will increase by NOK 38,944.40 after the

issue of 778,888 shares with a nominal value of NOK 0.05 per share.

When the share issue is completed, the number of shares in AF

Gruppen ASA will be 97,961,000. New share capital in AF Gruppen ASA

will be NOK 4,898,050.

The sale and issue of shares is expected to be completed October

31st 2017.

A new certificate of registration will be submitted to Oslo Stock

Exchange when it is available.