Veidekke

Earnings Release • Aug 12, 2024

Veidekke: Completing major project in Bjørvika

Veidekke: Completing major project in Bjørvika

Oslo S Utvikling (OSU) has commissioned Veidekke to complete the Mariakvartalet

project in Bjørvika with 246 environmentally certified apartments. The value of

the contract is NOK 644 million excluding VAT. Veidekke has already completed

the foundation and groundworks and built the basement floors in the project.

"We are pleased with the renewed confidence shown in us and that we can continue

to develop Bjørvika in partnership with OSU. We greatly appreciate a customer

who places such high demands on both quality and the environment. We have had an

excellent partnership so far, and are very pleased with the construction process

and production from the moment the project started up just over a year ago,"

says department manager Morten Barreth of Veidekke Bygg Oslo.

When the building is completed in 2027, Mariakvartalet will consist of 246 two,

three and four room apartments in eleven rises. All apartments will have a

balcony, roof terrace or garden plot on the roof, and the residents also have

access to common roof terraces with gazebos as well as a large city garden with

different social zones. The housing shall be environmentally certified to Very

Good according to the BREEAM-NOR manual, and in addition, greenhouse gas

emissions will be reduced by a minimum of 20 per cent. The construction site is

fossil-free with strict requirements for separation at source and waste

reduction.

Interest in the project has been great from the time sales started, and now 149

of the apartments have been sold. That's more than 85% of those that have been

put up for sale. "We appear to have succeeded with both the apartment mix, the

architecture and of course the location," says Jostein Ådalen, project director

with OSU.

Now Ådalen is pleased to award Veidekke another important new commission to

build the rest of the quarter. "Collaboration with Veidekke is always good. They

have all the expertise we need to carry out such projects, which have very high

quality requirements in all areas. Now we're looking forward to completing

Mariakvartalet together," Ådalen concludes.

The commission is included in Veidekke's order book for Q3. The contract between

Veidekke and OSU for the entire Mariakvartalet was concluded in January 2023

with an overall limit of NOK1.037 billion excluding VAT.

Read more about the project here (https://osu.no/prosjekter/mariakvartalet).

For further information, please contact:

Head of department Morten Barreth of Veidekke Bygg Oslo, tel. +47 93 88 37 16,

morten.barreth@veidekke.no

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

helge.dieset@veidekke.no

Project director Jostein Ådalen of OSU, tel. +47 950 48489, ja@osu.no

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

-3A__publish.ne.cision.com_l_rgogvhhfc_veidekke.fotoware.cloud_fotoweb_archives_5

028-2DPressebilder-2DVeidekke&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf

-v5A_CdpgnVfiiMM&r=ovbabqGKDpqANTMEcsMzz-9gUee7B3zUc45MCxMEFGk&m=i

-n8T3KMESZQwOxqk

-nBbqrnaG4OsY3JhJihjj7WFdg&s=IDvroF98t_qnTa8RmB8ZqNNa6arSSm5M7FH2pjaZjsA&e=)

Subscribe to notices from

Veidekke (https://urldefense.proofpoint.com/v2/url?u=http

-3A__publish.ne.cision.com_l_rgogvhhfc_veidekke.com_no_borsmeldinger_abonner

-2Dpa-2Dmeldinger&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf

-v5A_CdpgnVfiiMM&r=ovbabqGKDpqANTMEcsMzz-9gUee7B3zUc45MCxMEFGk&m=i

-n8T3KMESZQwOxqk-nBbqrnaG4OsY3JhJihjj7WFdg&s=DLoCklEaGhEmoSc8K

-AtVjORmjflxPt6VFIyRt6vzlM&e=)

Veidekke (http://www.veidekke.no) 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 43 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.