Veidekke will build the first phase of the Kobberkvartalet housing project in
Asker municipality for Ferd Eiendom. The assignment involves the construction of
142 apartments, common areas and a garage basement in a turnkey contract worth
NOK 488 million excluding VAT.

- We are proud and happy to have been chosen to build this great project at
Billingstad in Asker. Kobberkvartalet hits the heart of our strategy where we
have been able to participate in a joint project development with one of our
best returning customers. We thank Ferd for their trust and look forward to the
start of construction in October, says Department Manager Kaare Gilhus at
Veidekke Bygg Oslo.

Kobberkvartalet consists of a total of 420 apartments and is the last large
residential project in Vestre Billingstad between Asker and Sandvika. The
project has varied apartments from efficient one-room apartments of 30 m2 to
larger homes of up to 118 m2. The first construction phase consists of 142
apartments in three buildings of five to seven floors, the common house and the
basement of the entire project.

- Sales have exceeded our expectations and we are very pleased with the great
interest in Kobberkvartalet. With 84 of 142 apartments sold in the first two
sales stages, we look forward to starting construction after the summer. And we
are very pleased to have Veidekke on board, says Housing Director Anders
Holmlund at Ferd Eiendom.

Centrally located in the Kobberkvartalet, a spacious building with communal
areas on several floors will be available for residents to use. There will be a
grease trap and workshop in the basement with equipment and tools that can be
shared, and there will be a separate guest apartment that can be rented when
more space is needed.

Construction work is planned to start in October and move in at the beginning of
2028.
Read more about the project here (https://kobberkvartalet.no/).

The contract is included in Veidekke's order book for Q2 2025.

For further information, please contact:

Head of department Kaare Gilhus, Veidekke Bygg Oslo, tel.+47 45 03 01 97,
kaare.gilhus@veidekke.no

Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22,
helge.dieset@veidekke.no

Project Manager Ingvild Rysstad Slommerud, Ferd Eiendom, tel. 47 45 22 39 44,
irs@ferd.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028
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Veidekke (http://www.veidekke.no) is one of Scandinavia's largest contractors.
In addition to undertaking all types of building and civil engineering
assignments, the group also maintains roads and produces asphalt and aggregates.
Veidekke emphasises stakeholder involvement and local experience. Its annual
turnover is approximately NOK 41 billion, and half of its 8,000 employees own
shares in the company. Veidekke is listed on the Oslo Stock Exchange and has
posted a profit every year since its inception in 1936