AF Elkraft, a company within AF Gruppen, has been nominated by Statnett for
high-voltage works at the new Onarheim substation in Husnes. The agreement is a
turnkey contract with a value of just over NOK 100 million excluding VAT. The
contract includes engineering, supply and construction of a 420 kV switchgear
installation for the new substation.

"We greatly appreciate the trust Statnett has placed in us. We are proud to play
a role in this important project to upgrade the central power grid, where we can
fully utilise our expertise and experience," says Tormod Solberg, EVP at AF
Gruppen.

Design and procurement activities will commence as soon as the contract is
signed, with installation scheduled for 2027.

AF Gruppen completed the acquisition of 80 percent of the shares in Eviny
Solutions AS in September. The remaining 20 percent of the company's shares are
owned by Eviny AS. Eviny Solutions changed its name to AF Elkraft on 14
November.

For further information:
Tormod Solberg, EVP, AF Gruppen, tel. +47 950 59 495
Helge Rysjedal, Managing Director, AF Elkraft, tel. +47 930 27 774