Sandvika, 22 December (OSE: NORCO): Norconsult Norge AS, a subsidiary of
Norconsult ASA, has acquired 51% of the shares in Oslo-based project management
and consultancy company SQM AS.

Established in 2018 and counting 7 employees, SQM optimizes their clients'
property portfolio and ensures the best commercial development at all stages.
The company provides commercial property development services, from consultancy
related to purchase of property, through financing, development and
implementation to sales and management. SQM had revenues of NOK 19 million in
2022.

"We look forward to working closely with the SQM team, known as a well-regarded
project development partner with an attractive customer base and impressive
track record. SQM's total responsibility throughout the value chain makes its
service offering one of a kind, and this is an offer we want to develop and
strengthen in the future," says Bård Hernes, EVP Norway Head Office at
Norconsult.

The acquisition is expected to close in February 2024. SQM will continue as a
separate company and take advantage of being part of a larger professional
environment.

For further queries, please contact:

Investors: Dag Fladby (CFO)
IR@norconsult.com


Media: Henrik Charlesen, Senior Communication Advisor,
henrik.charlesen@norconsult.com

***

About Norconsult

Norconsult is a leading pan-Nordic interdisciplinary consulting firm combining
engineering, architecture and digital expertise across projects of all sizes,
for private and public customers in infrastructure, energy and industry,
buildings and architecture. Headquartered in Sandvika, Norway, Norconsult's
delivery model is centred around knowledge hubs and local presence through
approximately 6,200 employees across more than 130 offices in Norway, Sweden,
Denmark, Iceland, Poland and Finland.