AF Gruppen

Earnings Release • Jul 27, 2017

AF Gruppen to rehabilitate tunnels at Sunnmøre

AF Gruppen to rehabilitate tunnels at Sunnmøre

AF Gruppen (AFG) has been appointed by the Norwegian Public Road

Administration as contractor to execute the contract Tunnel

Upgrading Project Sunnmøre.

The tunnels Rv. 658 Ellingsøytunnelen, Rv. 658 Valderøytunnelen and

Fv. 658 Godøytunnelen will be upgraded according to new

specifications for tunnels. The contract includes building-,

construction-and electrical works.

The work is scheduled to start in September 2017 and expect to be

finished within May 2019. The contract is a general contract and has

an estimated value of NOK 600 million, excl. VAT.

- The project is a good match for AF Gruppen. We are currently

performing a contract for the Norwegian Public Road Administration

in Rauma and are pleased to see that AF Gruppen is chosen for yet

another project in the same area, says Morten Grongstad, CEO of AF

Gruppen.

For further information:

EVP Civil Engineering: Arild Moe, tel. +47 91 37 62 65

Executive Vice President/CFO: Sverre Hærem, tel. + 47 952 45 167