Veidekke

Veidekke: New loan agreements

Veidekke ASA ("Veidekke") has entered into new loan agreements with DNB and

Nordea which replace the two current bank agreements expiring at the end of

2025. In addition, Veidekke has mandated Nordea to facilitate the preparation of

a sustainability-linked framework, to which the new loan facilities are intended

to be linked.

Veidekke will continue its relationship with DNB as core bank. The new agreement

has a five year tenor, with two one-year extension options at the discretion of

the lender. The agreement has a credit limit of NOK 2.0 billion with annual

renewal and replaces a similar agreement from 2020, which had a NOK 1.75 billion

credit limit.

Veidekke has entered into a new agreement with Nordea for a NOK 1.0 billion

revolving credit facility (RCF). The RCF is available for general corporate

purposes, with a maturity of three (3) years. The RCF has two one-year extension

options at the discretion of the lender. The previous credit facility had a NOK

0.75 billion limit. The RCF will be made sustainability-linked in connection

with the publication of the sustainability-linked framework.

The sustainability-linked framework includes provisions related to Veidekke's

achievement of two goals related to reduction of greenhouse gas emissions and

reduction in injury frequency among Veidekke's employees. Nordea has been

mandated as the Framework Structurer, and the independent external verification

(Second Party Opinion) will be performed by Moody's. The framework is scheduled

for completion in Q2 2025.

As of 30 September 2024, the group had a positive net interest-bearing position

of NOK 2.1 billion. Veidekke currently has an outstanding bond loan (ticker:

VEI10) of approx. NOK 0.2 billion due in Q1 2025. As a result of the

refinancing, this will not be replaced with new bond financing upon redemption.

This information is subject to a disclosure duty pursuant to section 5-12 of the

Securities Trading Act.

For more information, contact:

Jørgen Wiese Porsmyr, CFO, phone +47 90 75 90 58

Veidekk press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028

-Pressebilder-Veidekke/)

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Veidekke is one of Scandinavia's largest contractors. In addition to undertaking

all types of building and civil engineering assignments, the group also

maintains roads and produces asphalt and aggregates. Veidekke emphasises

stakeholder involvement and local experience. Its annual turnover is

approximately NOK 43 billion, and half of its 8,000 employees own shares in the

company. Veidekke is listed on the Oslo Stock Exchange, and has posted a profit

every year since its inception in 1936.

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