Multiconsult (OSE: MULTI)
The City of Oslo has in collaboration with Multiconsult Norge AS and AF Gruppen
AS concluded a target price agreement, to undertake phase 2 of the Huseby water
treatment plant project, a key component in establishing a new water supply for
Oslo. The scope of work contains detailed design, engineering services and
oversight during the construction and completion phase.

The target price agreement is part of and a continuation of the Alliance
Agreement between The City of Oslo, Multiconsult with partner and AF Gruppen
signed in October 2022. Multiconsult's share of the target price agreement,
together with Asplan Viak AS as partner, and COWI AS as subcontractor, is
estimated to exceed NOK 430 million. Project work has already commenced, with
approximately 25 per cent of this phase completed due to prior construction
activities. Most of the remaining work is expected be conducted by the end of
2027.

Oslo's new water supply system aims to provide a redundant source by 2028,
ensuring a secure drinking water supply for the city's residents, today 90 per
cent of them currently rely on a single source. Multiconsult Norge AS, has been
involved in developing Oslo's new water supply since 2017.

For further information, please contact:

    Investor Relations:
    Pål-Sverre Jørgensen, Group Treasurer & IRO
    Phone: +47 416 111 61
    E-mail: psmj@multiconsult.no / ir@Multiconsult.no

    Media:
    Gaute Christensen, VP Communications
    Phone: +47 911 70 188
    E-mail: gaute.christensen@Multiconsult.no