Veidekke is today presenting its market update for the Scandinavian contracting
markets for the period 2025-2027. Following two years of significant downturn,
the market appears to be approaching a turning point. While activity levels have
continued to decline slightly in 2025, moderate growth is expected from 2026
onwards.

Production in the Scandinavian contracting markets is forecast to fall by around
4% in 2025, following an 11% decline in 2024. The downturn is attributable to
interest-rate increases and high inflation in the period 2022-2023, as the
impact of such factors usually takes one to two years to materialise. At the
same time, statistics on project starts show a clear, positive trend. While the
situation remains challenging, this has intensified expectations of a market
turnaround.

Veidekke anticipates a moderate upturn to start in 2026, with estimated growth
of +5% in 2026 and +4% in 2027. Growth is expected across the entire market but
will be particularly strong in the apartment and small houses segment. The
infrastructure segment looks set to remain stable and strong throughout the
period.

The 2025 forecasts for Scandinavia as a whole are generally in line with
Veidekke's market update from spring of this year, while expectations for 2026
have been reduced slightly. For Norway and Sweden specifically, expectations
indicate a somewhat weaker development for 2025 than previously forecasted,
while the upturn in 2026 looks set to be slightly more moderate.

"Having come through a challenging period, we are now seeing clear signs of
recovery in the contracting markets," says Kristoffer Eide Hoen, Head of Insight
and Analysis at Veidekke.

 "Although 2024 and 2025 have been challenging, we expect lower interest rates
and positive economic developments to provide a basis for growth in 2026 and
2027."

The market update is available on the Veidekke website (veidekke.com), 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 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.