Veidekke — Earnings Release 2014

Oct 8, 2015

Veidekke ASA: To build Diagonale at Bjørvika

Veidekke ASA: To build Diagonale at Bjørvika

Veidekke Entreprenør has signed a contract with A9 Palekaia AS (50% Thongård AS

and 50% HAV Eiendom AS) to build the cellar of the major Diagonale project close

to the opera in the centre of Oslo. This is a turnkey contract valued at NOK

150 million, excluding VAT.

The Diagonale project will be located between Dronning Eufemias gate and

Operagata. The entire project will include around 400 student homes, 14,000 m(2)

of offices and 4,000 m(2) retail/restaurants at street level. The whole project

will consist of two buildings linked by a common cellar.

"Now we are looking forward to getting started with construction. This will be

an exciting project with an extremely attractive location. The combination of

student bedsits, restaurants and offices will bring life to the area both during

the day and in the evenings. With Veidekke we have a contractor who both knows

Bjørvika well and who has extensive expertise and the ability to perform in this

type of project," says general manager Bernt Nordby Skøien with A9 Palekaia AS.

Construction work starts in November. See www.diagonale.no for more information

on the project.

For press photos, see www.flickr.com/photos/veidekke, for more information,

contact:

District Manager Hans Olav Sørlie, tel. +47 91 74 49 23, hans-

olav.sorlie@veidekke.no

Project manager Rune Fossland, tel. +47 901 66 480, rune.fossland@veidekke.no

General manager Bernt Nordby Skøien with A9 Palekaia AS, tel. +47 99 70 13 12,

bernt.skoien@haveiendom.no

Communications Manager Helge Dieset of Veidekke, tel. +47 90 55 33 22,

helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development

companies. The company undertakes all types of construction and civil

engineering contracts, maintains roads, and produces asphalt and aggregates. The

company is characterised by involvement and local knowledge. Revenue is NOK 24

billion (2014), and half of the 6,400 employees own shares in the company.

Veidekke is listed on the Oslo Stock Exchange and has always posted a profit

since it was founded in 1936.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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