Veidekke

Earnings Release • May 7, 2025

Veidekke: Establishes sustainability-linked financing framework

Veidekke: Establishes sustainability-linked financing framework

Veidekke has established a sustainability-linked financing framework, with terms

linked to the group's greenhouse gas emissions and injuries reduction targets. A

Second Party Opinion provided by Moody's has rated the framework as "Excellent".

Veidekke's two loan agreements with DNB and Nordea will be linked to the

framework.

"Veidekke has addressed safe operations and reduction of greenhouse gas

emissions by committing to concrete targets, which constitute key management

parameters in the group. The sustainability-linked financing framework provides

us with a comprehensive, transparent structure to link our funding to the

progress made towards these commitments," says Jørgen Wiese Porsmyr, CFO at

Veidekke.

The terms include three key indicators; lost-time injuries among own employees

(LTI rate), and greenhouse gas emissions in, respectively, scopes 1 and 2, and

scope 3.

· Reducing work-related injuries: Veidekke works hard towards a zero injury

vision, and takes a broad approach to addressing related attitudes, competence

and cultural aspects. The indicator used to link these OHS initiatives to the

sustainability-linked framework is the LTI rate, i.e. the number of injuries

resulting in lost time per one million hours worked.

· Greenhouse gas emissions: Veidekke has committed to achieving net zero

emissions by 2045, with an interim target of cutting emissions from Veidekke's

operations by 50.4% for both direct emissions (scopes 1 and 2) and indirect

value chain emissions (scope 3) by 2030. The group has also set a target of

reducing land-use change (FLAG) emissions by 30.3% by 2030 and 72% by 2045. The

emissions targets were updated in 2024 and validated by the Science Based

Targets initiative (SBTi) in the same year.

Nordea has served as advisor in the structuring of the sustainability-linked

financing framework, while Moody's was commissioned to provide an independent

Second Party Opinion. Moody's rated Veidekke's key performance indicators as

"Best practices" and the contribution to sustainability as "High" and gave the

framework an overall assessment of "Excellent" (SQS1), which is Moody's highest

sustainability quality score.

The sustainability-linked financing framework and Moody's Second Party Opinion

statement are available on Veidekke's website.

For more information, contact:

Jørgen Wiese Porsmyr | CFO Veidekke ASA | +47 907 59 058 | jorgen

-wiese.porsmyr@veidekke.no

Johan Frederik Hald | Group Treasurer | +47 970 95 586 |

frederik.hald@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. Its annual turnover is

approximately NOK 41 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.