Veidekke

Earnings Release • Aug 14, 2023

Veidekke: Building even more homes in Lille Løren Park

Veidekke: Building even more homes in Lille Løren Park

Nordr and Selvaag Bolig have awarded Veidekke the contract to also build the

third and final stage in the Lille Løren Park project in eastern Oslo. The

project consists of 165 environmentally certified apartments in three apartment

buildings. The contract is a design and build contract valued at NOK 322 million

excluding VAT.

"We appreciate the continued confidence shown in us and are very pleased to get

started with the final part of this great housing project, despite a somewhat

difficult market. We like building for Selvaag and Nordr, and appreciate working

at Løren where we have built new homes continuously for more than ten years now.

We believe this will be one of Oslo's best apartment projects and have one of

our best housing teams in place," says department manager Kaare Gilhus with

Veidekke Bygg Oslo.

At Løren, a new city district has emerged in an area that previously housed

industry and a military camp. When this third construction stage is completed,

Lille Løren Park will comprise 355 environmentally certified apartments

according to the BREEAM-NOR standard and a kindergarten. The third construction

stage consists of 37, 63 and 65 apartments respectively in three apartment

blocks of seven and eight storeys with sunny communal terraces on the roof.

Construction work has already started, with completion scheduled for the fourth

quarter of 2025. Read more about the project

here (https://www.selvaagbolig.no/oslo/lillelorenpark/).The contract is included

in Veidekke's order book for Q2 2023.

For further information, please contact:

Head of Department Kaare Gilhus at Veidekke Bygg, tel. +47 45 03 01 97,

kaare.gilhus@veidekke.no

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

helge.dieset@veidekke.no

Veidekke's press photos (https://urldefense.proofpoint.com/v2/url?u=https

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Veidekke is one of Scandinavia's biggest 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 39

billion, and almost 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.