Sandvika, 27 May (OSE: NORCO): Norconsult, in partnership with contractor Anlegg
Øst Entreprenør, has been awarded a contract by Statnett for the design and
construction of two new substations in Tønsberg and Eiker, and the upgrade of
the existing Hof substation in southern Norway.

The project will help secure a reliable power supply in the region while
increasing capacity in a grid facing strong demand.

"We are pleased to have been awarded this contract and look forward to a close
collaboration with Statnett and Anlegg Øst Entreprenør. Norconsult is one of the
leading power transmission specialists in the Nordics, and I am confident our
team will deliver a strong contribution to this project," says Håkon Bergsodden,
EVP Renewable Energy.

Statnett is the transmission system operator in Norway's power system. Its role
is to ensure a reliable power supply by developing, operating and maintaining
the transmission grid. Statnett is a state-owned enterprise under the Ministry
of Energy.

It is estimated that the project will start during the second half of 2026, and
the estimated contract value is NOK 65 million. The award of the contract to
Norconsult is subject to a standstill period expiring on 1 June.

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For further information, please contact:

Investors: Christian Salbu Aasland, SVP Investor Relations & Business
Intelligence, IR@norconsult.com

Media: Henrik Charlesen, Head of External Communications,
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 clients 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 7,200 employees across more than 140 offices in
Norway, Sweden, Denmark, Iceland, Poland and Finland.
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Norway\, Sweden\, Denmark\, Iceland\, Poland and Finland.\