Betonmast, a subsidiary of AF Gruppen, has signed a contract with Seterløkka
Boligutvikling AS for the construction of 86 apartments in Hamar. The contract,
which covers two construction phases, is a turnkey contract with a total value
of approximately NOK 275 million excluding VAT. The start of construction for
both phases is contingent upon sufficient pre-sales.

Seterløkka Boligutvikling AS is owned by OBOS Nye Hjem AS, Utstillingsplassen
Eiendom AS, and Betonmast Eiendom AS, with each holding 33.3 per cent of the
shares

Seterløkka is planned to be developed with apartments ranging from 26 to 137
square metres. The total development area is approximately 11,500 square metres
GFA. The apartments are distributed with 38 units in phase 1 and 48 units in
phase 2.

"Following a strong development phase, where Betonmast has contributed with our
residential expertise, we now look forward to seeing this project come to life,"
says Peter Sandrup, CEO of Betonmast.

The expected construction start for the project is April 2026. Phase 1 is
estimated to be completed in the fourth quarter of 2027, while phase 2 is
scheduled for completion in the second quarter of 2028.

For further information:
Peter Sandrup, CEO Betonmast, tel. +47 915 88 645
Bård Frydenlund, EVP Sweden and Betonmast for AF Gruppen, tel. +47 918 68 621