LAB Entreprenør, a subsidiary of AF Gruppen, has entered into an agreement with
Handelens og Sjøfartens Hus AS for the rehabilitation of Handelens og Sjøfartens
Hus in central Bergen. The contract is valued at NOK 342 million excluding VAT,
and will be carried out as a turnkey project.

The agreement includes interior demolition and renovation of approximately 6,500
square metres, the construction of a new top floor with an associated roof
terrace, as well as a new staff restaurant with a glass roof in the courtyard.
In addition, the existing façades will be restored.

The building is a monumental neo-classical structure, located in the heart of
Bergen city centre with views over Festplassen and Lille Lungegårdsvannet. Since
its completion in 1931, Handelens og Sjøfartens Hus has been a centre of trade
and a symbol of the city's maritime heritage. This heritage continues through
this revitalisation, which helps preserve the building's historical value for
generations to come.

"We will thank Handelens og Sjøfartens Hus AS for their confidence in us, and
look forward to continuing the excellent cooperation from the collaboration
phase during the implementation of this exciting project," says Gard Kvalheim,
CEO of LAB Entreprenør.

Work is scheduled to begin in the third quarter of 2025, with completion
expected in the first quarter of 2027.


For further information:
CEO of LAB Entreprenør AS: Gard H. Kvalheim, tel. +47 907 54 394
EVP Construction, AF Gruppen: Tormod Solberg, tel. +47 950 59 495