Selvaag Bolig ASA

Earnings Release • Oct 1, 2021

Selvaag Bolig ASA: Q3 2021: Sold 601 homes for NOK 3.1 billion in first nine months

Selvaag Bolig ASA: Q3 2021: Sold 601 homes for NOK 3.1 billion in first nine months

Selvaag Bolig sold 147 homes worth NOK 731 million in the third quarter of 2021.

Sales for the first nine months totalled 601 homes worth NOK 3 097 million.

Adjusted for the group's share of joint ventures, sales to 30 September were up

by 13 per cent from the same period of 2020.

"As expected, housing sales were a little quieter in the third quarter," reports

Selvaag Bolig CEO Sverre Molvik.

"The summer figures were closer to normal than we have seen in recent years,

while expectations of interest-rate rises also had an effect."Nevertheless, we

sold well in several projects and were therefore in a position to start

construction of 148 homes."

He says the company expects the housing market to be normally good in the time

to come and that demand and price developments will be good in its priority

areas.

"We also believe the Greater Oslo market will experience further pressure on

prices and demand in the longer term because too little is being built in the

city itself.

"In addition, we're due to launch our first Pluss housing project in Trondheim

during the fourth quarter. Many people have already expressed interest, and we

expect good sales there," Molvik says.

Net sales, adjusted for Selvaag Bolig's share of joint ventures, came to 125

homes worth NOK 634 million in the third quarter, and 545 worth NOK 2 753

million for the first nine months.

The company started construction of 148 homes during the quarter, completed 318

and delivered 314 to the buyer. At 30 September, it had 1 201 homes under

construction and 16 completed units which remained unsold.

Selvaag Bolig started construction of 424 homes during the first nine months,

completed 533 and delivered 570 to the buyer.

Net sales for the third quarter of 2020 amounted to 178 homes worth NOK 910

million, while gross sales came to 209 homes with a combined value of NOK 1 104

million. Corresponding figures for the first nine months of last year were 483

homes worth NOK 2 450 million net, and 591 units with a combined value of NOK 3

085 million gross.

Further information from:

Sverre Molvik, CEO, Selvaag Bolig ASA

Telephone: +47 40 10 05 85, e-mail: smo@selvaagbolig.no

Kristoffer Gregersen, executive vice president communications and strategy,

Selvaag Bolig ASA

Telephone: +47 95 77 55 93, e-mail: kgr@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, Trondheim and Stockholm.

Selvaag Bolig represents a continuation of Selvaag's 70-year history and

experience. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

This release was distributed by Kristoffer Gregersen, executive vice president

communications and strategy Selvaag Bolig ASA.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.