AF Gruppen has entered into an agreement with Storøykilen Utvikling AS, a wholly
owned subsidiary of OBOS Fornebu AS, to build blocks 5 and 6 in the residential
project Storøykilen at Fornebu in Bærum. The project will be carried out as a
turnkey contract, and the contract is valued at NOK 412 million excluding VAT.

Storøykilen blocks 5 and 6 consist of 89 homes distributed across three
apartment buildings and 20 townhouses with a shared basement and adapted outdoor
areas. AF has completed the first three blocks, and the homes in block 4 are
under construction and planned for delivery in autumn 2026. Blocks 5 and 6,
which will be the last homes at Storøykilen, are being built to the same
standard with carefully selected materials and are located close to Nansenparken
and Oksenøya at Fornebu. The contract also includes infrastructure and shared
outdoor areas for the site. The homes will be built to high environmental
standards.

Construction is scheduled to start in August 2025 with expected completion in
2027.

"We are pleased to continue the good cooperation with OBOS at Fornebu. Together,
we have found good and environmentally smart solutions, and we look forward to
starting the construction of the final blocks at Storøykilen," says Tormod
Solberg, EVP Building at AF Gruppen.


For further information, please contact:

Tormod Solberg, EVP Building, tel. +47 994 01 510
Amund Tøftum, CEO, tel. +47 920 26 712