Today, Veidekke has entered into an agreement with Skien municipality to expand
the Lyngbakken living and care centre. This is a design and build contract,
valued at NOK 270 million, excluding VAT.

"It is very pleasing that we together through the development phase have arrived
on functionality, solutions and qualities that enables Skien municipality to
conclude a contract with us and thus start construction. All parties involved
have made important contributions here, and we are now looking forward to
extending the good partnership from the development phase into the construction
phase," says district manager Lars N. Hjertås at Veidekke Bygg Vestfold and
Telemark.

The Lyngbakken living and care centre will double the number of resident rooms
after the development from 64 to 128. The new building will comprise around
6,500 m[2] and be built on two floors with basements under parts of the
building. The development will take place next to the existing living and care
centre, which will be in full operation during the construction period.

This will be a sustainable project in which a support system in class A ultra
-low carbon concrete, energy-efficient technical installations and a local wood
chip heating plant as energy source, together result in at least a 40% reduction
in greenhouse gas emissions compared to a reference building. The building will
be delivered as energy class A and the construction works will be carried out
fossil-free.

"The concrete and timber work in the project will be carried out by Veidekke's
own skilled workers and apprentices, which is important for employment and
skills development. We will start up almost immediately, and completion is
scheduled for December 2025," Hjertås concludes.

Read more about the project here (https://www.skien.kommune.no/by-og
-naeringsutvikling/prosjekter-i-skien/byggeprosjekter/utvidelse-av-lyngbakken-bo
-og-behandlingssenter-lyngbakken-2/).

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

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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.