Selvaag Bolig ASA

Earnings Release • May 19, 2016

Selvaag Bolig ASA: Q1 2016: Record sales

Selvaag Bolig ASA: Q1 2016: Record sales

First quarter 2016:

* Highest-ever value of homes sold, at NOK 1 056 million (NOK 1 020 million)

* 280 homes sold (2015: 308), construction started on 230 (284) and 179

delivered to the buyer (224)

* IFRS: operating revenues NOK 624 million (NOK 756 million), EBITDA adjusted

for financial expenses NOK 91 million (NOK 121 million) representing a

margin of 14.6 per cent (16 per cent)

* NGAAP (percentage of completion method): operating revenues NOK 815 million

(NOK 827 million), EBITDA NOK 132 million (NOK 140 million) representing a

margin of 16.1 per cent (17 per cent)

* Dividend of NOK 0.80 per share for the second half of 2015 approved and paid

since 31 March.

* High market share in Oslo.

"This is the best quarter for sales measured by value in our history," comments

CEO Baard Schumann at Selvaag Bolig ASA.

"Since homes sold are first recognised in the accounts when they are delivered,

this will give strong results in the long term. The average price of homes sold

has increased, and the profitability of our projects is very good."

Selvaag Bolig started building work on 230 homes during the first quarter, and

had 1 386 under construction at 31 March with a combined sales value of about

NOK 5 billion.

The company had 58 completed homes which remained unsold at the same date, when

80 per cent of the units under construction had already been sold.

"All our housing starts during the first quarter were in Greater Oslo, where we

have built up a very strong position," Schumann says.

"We have great confidence in this market for the time to come. Demand is very

high, the supply of homes is small, and the number of sites getting planning

permission for housing is too low. Our share of the roughly 1 000 new homes

currently on sale in Oslo is about 30 per cent. Market prospects are also

positive in Bergen and Trondheim."

Live webcast of the presentation available from 0830 here

30 second film summary available here (Norwegian language only)

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 of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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