LAB Entreprenør, a subsidiary of AF Gruppen, has entered into an agreement with
Sammen, the Student Welfare Organisation of Vestland, for the refurbishment of
two residential blocks at Hatleberg in Bergen.

The agreement covers the refurbishment of an eight-storey student housing block
(the DE Block) and a smaller four-storey block (the C Block). Once completed,
the CDE Blocks will together accommodate 240 student rooms, a rooftop
ventilation plant room, and shared communal facilities. The contract has a value
of NOK 212 million excluding VAT.

Hatleberg comprises approximately 540 student rooms across the AB, CDE and F
Blocks. This contract is the third and final phase of a planned refurbishment of
all units at the site. LAB Entreprenør handed over the F Block in the summer of
2025, while work on the AB Block is well underway and scheduled for completion
in the summer of 2026. 

"We are very grateful to have been chosen to refurbish additional student
accommodation in Bergen for Sammen. This project further strengthens our
expertise in the preservation and revitalisation of buildings in our city.
Preserving rather than demolishing and rebuilding is the single most effective
contribution we can make to reducing emissions in our industry," says Gard
Kvalheim, Managing Director of LAB Entreprenør.

Construction work is scheduled to start in the second quarter of 2026, with
completion planned for the second quarter of 2027.

For further information:
Managing Director, LAB Entreprenør AS: Gard Kvalheim, tel. +47 907 54 394
EVP, Building, AF Gruppen: Tormod Solberg, tel. +47 950 59 495