AF Gruppen

M&A Activity • May 11, 2017

Partnership contract

Partnership contract

Reference is made to announcement on 12 December 2016 regarding

exclusive contract negotiations between AF Gruppen (AFG) and Oslo S

Utvikling (OSU) for the development of Bispevika.

AF Gruppen has received information from OSU that they at this time

do not intend to enter a partnership contract for the development of

the total area of Bispevika.

AF Gruppen has already signed an agreement to build area

Dronninglunden (140 apartments), which was announced 8 March 2017.

AF is also in negotiations to build area B6 (235 apartments).

This does not affect AF Gruppen's order backlog, as only

Dronninglunden has been included in the order backlog.

For further information:

CEO, AF Gruppen: Morten Grongstad, tel. +47 991 53 905

EVP Building, AF Gruppen: Henning Olsen, tel. +47 917 41 592