AF Gruppen - Major Shareholding Notification 2014

Disclosure of significant holding and primary insider notice

Reference is made to the stock exchange notice on 10

June 2014 regarding a contemplated secondary sale of

up to 2,300,000 existing shares in AF Gruppen ASA

("AFG") by OBOS Invest AS ("OBOS").

The book-building in the secondary sale has been

successfully completed, and OBOS has today sold

2,300,000 shares in AFG, representing approx. 2.6

percent of the total outstanding share capital of

AFG, at NOK 72 per share. Following the sale, OBOS

holds 19,939,041 shares in AFG, representing 22.6% of

the outstanding share capital in AFG.

As a consequence of the transaction OBOS has passed

the threshold of 25 percent of the outstanding share

capital, cf. the Securities Trading Act section 4-3

first paragraph.

Fondsfinans has acted as sole book-runner for the

secondary sale.

OBOS is currently a primary insider in AFG and is

represented on the board of directors in AFG by

Daniel Kjørberg Siraj, Executive Vice President of

OBOS.

OBOS has the ambition to continue to be a long-term

industrial and main owner of AFG for the foreseeable

future, and the sale is due to financial rebalancing

of OBOS portfolio.

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