Betonmast, a subsidiary of AF Gruppen, has been selected by Lede AS to construct
office and service buildings in Larvik. The contract is a turnkey contract,
valued at approximately NOK 185 million excluding VAT.

The project involves the construction of a three-storey office building of
around 3,000 square metres, as well as a service building of approximately 3,000
square metres, which will include workshops, a mezzanine with offices, and a
garage. The project will be classified as BREEAM-NOR Very Good.

"Betonmast aims to strengthen the position in the Larvik region, so this project
is a great fit for us. We now look forward to working closely with the client
during a collaboration phase before construction begins," says Peter Sandrup,
CEO of Betonmast.

Lede is subject to a standstill period before the contract can be signed. This
period ends on 3 November. Following contract signing, a four-month mutual
risk-reducing collaboration phase is planned. Construction is scheduled to start
in March 2026, with completion expected by June 2027.

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