Veidekke has been commissioned by Smedstad Boligstiftelse to rehabilitate 80
apartments in two buildings and build 29 new apartments at Smestad in Oslo. The
commission is a design and build contract valued at just over NOK 155 million
excluding VAT.

"This is an interesting commission with extensive upgrades and extensions that
will make the entire apartment complex emerge as a new build. By rehabilitating
the existing buildings, greenhouse gas emissions are significantly reduced
compared to a new build, so this will be good for both the residents and the
environment. We really appreciate this commission and are looking forward to
starting up," says head of department Rune Andersstuen with Veidekke Bygg Oslo.

The housing project in Hoffsveien consists of 80 rental apartments from 1994,
all of which will have new kitchens, new tiled bathrooms and new floors, in
addition to the walls being plastered and painted. A new fifth floor with 19
apartments will also be built, while the fourth floor will be extended with four
new apartments. A new lift will be installed, the buildings will have full fire
sprinkling, and at the top there will be a 200 m2 communal roof terrace and
solar panels that will produce electricity for hot water and lighting and
ventilation in the common areas.

Work will start immediately, and handover is scheduled before Christmas in 2025.

For further information, please contact:

Head of department Rune Andersstuen, tel. +47 91 83 33 80,
rune.andersstuen@veidekke.no

Communications Manager Helge Dieset, tel. +47 90 55 33 22,
helge.dieset@veidekke.no
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Veidekke (https://www.veidekke.com/) 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.