OBOS has entered into an agreement with Veidekke to erect the third building
stage with 52 environmentally certified apartments in the Teieparken project in
Tønsberg. This will be a design and build contract valued at close to NOK 130
million, excluding VAT.

"We are pleased to extend our good cooperation with OBOS on the Teieparken
residential project. This started with a partnership agreement on project
development back in 2017, which proceeded to the development contract for the
first 64 apartments in 2018 which have long since been completed. Overall, 232
apartments in Teleparken have been built or are under construction by Veidekke.
We are grateful for the confidence shown in us to continue building," says
district manager Lars N. Hjertås of Veidekke Bygg Vestfold and Telemark.

Teieparken will be a green and vibrant city district in central Tønsberg. The
actual park is public and will be at the heart of the vibrant residential
community. Here there are walkways and plenty of space for play and recreational
areas. The 52 apartments in the third building stage are in two buildings on
three to five floors over an underground parking facility.

"The fact that OBOS is commissioning now provides continuity in the development
that is very important for both parties. This ensures, among other things, that
we can proceed with the same coordinated team, comprising both our own employees
and partners at the construction site. We are also particularly appreciative
that OBOS has the capability to start up housing projects in the current
market," Hjertås concludes.

Start of construction is immediately with handover scheduled for the spring of
2026. Read more about the project
here (https://www.obos.no/bolig/prosjekt/teieparken?gad_source=1&gclid=Cj0KCQjwi
r
2xBhC_ARIsAMTXk84dxVbcnNfRMCwm1MMGIgjObWEclsCyBnTt5iUnw_GkmjX4vibBvUUaAshFEALw_w
c
B&gclsrc=aw.ds). This contract is included in Veidekke's order book for the
first quarter 2024.

For further information, please contact:
District Manager Lars Nicolas Hjertås, tel. +47 92 29 71 92,
lars.hjertas@veidekke.no
Project Manager Mattis C. Pira, tel. +47 41 45 85 38, Mattis.Pira@veidekke.no
Communications Manager Helge Dieset, tel. +47 90 55 33 22,
helge.dieset@veidekke.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028
-Pressebilder-Veidekke/)
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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. Annual
turnover is approx. NOK 43 billion, and almost 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.