Veidekke

Earnings Release • Sep 28, 2022

Veidekke: Construction of new head office in Oslo begins

Veidekke: Construction of new head office in Oslo begins

Veidekke Bygg has been commissioned by Ulven B1 Næringstomt AS (owned 50/50 OBOS

and Veidekke ASA) to build a new head office for Veidekke in Oslo's Ulven

neighbourhood. High environmental ambitions have been set for the project which

features innovative solutions, and the design and build contract is worth a

total of NOK 403 excluding VAT.

As a building, Veidekke's new head office will be a pioneer in terms of

sustainability and the environment. The building will be certified in accordance

with the BREEAM-NOR Excellent environmental standard, and will achieve

reductions in greenhouse gas emissions of more than 50% when compared with the

reference building. For example, this will be the first time in Norway that

crushed concrete from a demolition project replaces 100% of virgin stone mass

used in the new concrete for the building. The head office will have an area of

11,300 m[2] distributed over six storeys, and plans include space for 600

workspaces, of which some will be leased to other parties.

"We are delighted to be able to start building work on our own, brand new head

office. We will be using completely new sustainable and circular solutions to

reduce the negative impact we have on the climate and environment. This will

become a reference building for the benefit and enjoyment of our employees, not

to mention its role as a head office that we are able to show off to our

customers and partners with pride," says Veidekke Group Chief Executive Jimmy

Bengtsson.

The former Ulven industrial area in eastern Oslo is currently undergoing a

transformation into a neighbourhood featuring 2,000 homes and 5,000-6,000 jobs.

The first residents have already begun to move into their new homes built by

Veidekke on behalf of OBOS, and a café and convenience store are already

operating in the area. Large, green courtyards, playgrounds and a park, as well

as a central location, will help make this area an attractive place to live and

work.

The commission is included in Veidekke's order book for Q3. Construction will

begin with immediate effect and the offices are due to be brought into use in

early January 2025. The project is being delivered by Team Veidekke DA, which

consists of Veidekke Bygg Oslo, Bravida Norge, LPO Arkitekter, Multiconsult, Dr

techn. Olav Olsen and Landskaperiet.

For further information, please contact:

Head of Department Kaare Gilhus, tel. +47 45 03 01 97, kaare.gilhus@veidekke.no

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

helge.dieset@veidekke.no

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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. Annual turnover is approx. NOK 38

billion, and around half of its 7,800 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.