Selvaag Bolig ASA

Earnings Release • Oct 2, 2017

Selvaag Bolig ASA: Quieter market, but good sales

Selvaag Bolig ASA: Quieter market, but good sales

Selvaag Bolig ASA sold 207 homes with a total value of NOK 843 million during

the third quarter of 2017. Sales in the first nine months totalled 632 homes

worth NOK 2 867 million in all.

"The market has been quieter than in earlier periods. This primarily reflects

the residential mortgage and the market psychology. However, sales have been

good in many of our projects," says CEO Baard Schumann.

Construction started for 77 units during the quarter, 81 were completed and 75

were delivered to the buyer. At 30 September, Selvaag Bolig had 1 582 homes

under construction and 30 completed units which remained unsold.

"Value creation in the company is at a record level," says Schumann. "We have

homes worth more than NOK 7 billion under construction, and almost 80 per cent

of these are already sold. That will yield very good results in the future."

Adjusted for Selvaag Bolig's share of joint ventures, sales amounted to 178

homes worth NOK 684 million for the third quarter and 533 worth NOK 2 316

million for the first nine months.

The company started construction of 582 homes in the first ninth months,

completed 354 and delivered 382. Selvaag Bolig sold 277 homes worth NOK 1 130

million in third quarter of 2016, when gross sales were 298 homes.

Further information from

Baard Schumann, CEO, Selvaag Bolig ASA

Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no

Sverre Molvik, CFO, Selvaag Bolig ASA

Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no

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 and Trondheim. Selvaag Bolig

represents a continuation of Selvaag's 60-year history and experience, and

offers a broad variety of property types marketed under the brand names Start,

Hjem and Pluss. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.