AF Gruppen has entered into an agreement with KLP Eiendom to refurbish
Citypassagen, a transformation project in central Oslo. The contract is a
turnkey contract valued at approximately NOK 450 million excluding VAT.

The project comprises the refurbishment of approximately 14,600 square metres
and an extension of around 2,000 square metres. The works include the
development of office space, the establishment of a covered passage with a glass
roof, and the upgrading and partial restoration of façades. The aim of
Citypassagen is to create modern office premises and a vibrant connection
between Akersgata and Pilestredet.

The office premises will be certified to BREEAM Very Good standard. The project
is planned to be executed in accordance with the EU Taxonomy requirements for
office and publicly accessible areas.

"KLP Eiendom has high ambitions for Citypassagen, both in terms of quality and
environmental performance. It will become a modern workplace in historic
surroundings, with a clear presence in Oslo's cityscape. We look forward to
contributing our refurbishment expertise to help realise these ambitions," says
Eirik Wraal, EVP Building, Energy and Environment at AF Gruppen.

Construction is scheduled to commence in the second or third quarter of 2026,
with completion planned for the third quarter of 2028.

For further information:
EVP Building, Energy and Environment, Eirik Wraal, tel. +47 905 73 975
ment\, Eirik Wraal\, tel. +47 905 73 975\