Last year marked a turning point in the contracting markets. The recovery from
an extended downturn in recent years was particularly evident in the
construction sector. Overall, the Scandinavian construction market is projected
to grow 7% by the end of 2027, according to the market update for 2025-2027
which Veidekke is publishing today.

After three years of decline, production in the Scandinavian construction market
is expected to rise in all three countries, both this year and next. The shift
is attributable to falling interest rates in Sweden, a buoyant business climate
and relatively stable household finances.

"Expectations regarding increased activity are being confirmed. There were clear
signs of improvement in the sector's order intake throughout the autumn, and
forecasts of moderate activity growth going forward therefore appear to be spot
on," says Kristoffer Eide Hoen, Head of Insight and Analysis at Veidekke.

Veidekke anticipates activity growth of 6% in 2026, with growth levelling off to
1% in 2027. In the construction segment, the market is expected to grow across
Scandinavia, but more so in Sweden than in Denmark and Norway. The
infrastructure segment looks set to remain consistently strong throughout the
period.

The forecasts for this year and next are largely in line with Veidekke's market
update from last autumn, although expectations have been increased slightly for
2026 and correspondingly reduced slightly for 2027.

The situation in the Middle East has elevated global economic uncertainty and
raised energy prices, with a resulting impact on material and machinery costs in
the Scandinavian market. While the initial effects cannot be compared with those
seen in the spring of 2022, forecasts of project starts and construction costs
will be somewhat less certain than usual for as long as the unrest continues.

The market update is available on the Veidekke website, under Investor
Relations/Reports and presentations/Market updates.

For further information, please contact:
Kristoffer Eide Hoen, Head of Insight and Analysis at Veidekke ASA
Tel. +47 976 75 434 | Kristoffer.Eide.Hoen@veidekke.no

Veidekke press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028
-Pressebilder-Veidekke/)
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Veidekke 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 43 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.