Veidekke has been contracted by Heimstaden to complete the Råbylund residential
project, which comprises new rental lease apartments in Lund. The design and
build contract has an approximate value of SEK 225 million. Handover of the
completed project is estimated to Q1 2027.

Veidekke takes over the assignment after the bankruptcy of the construction
group Serneke in January of this year. Veidekke's assignment includes the
completion and new production in four stages of 412 residential units with
underground garages. Work on the project starts immediately. The design and
build contract, which will be carried out in close collaboration with the
client, aims for certification in accordance with the Miljöbyggnad Silver
standard. Magnolia Bostad is the project developer.

"At Heimstaden, we are very pleased to welcome Veidekke to the Råbylund team.
Veidekke has extensive experience with large construction projects, and we are
confident in their ability to complete the remaining stages together with
Magnolia," says Mia Boyum, project manager at Heimstaden.

"We are pleased to see the project starting up again, and that we can complete
the work and deliver attractive homes to future tenants, in close cooperation
with Heimstaden and Veidekke," says Mattias Pålsmark, project developer at
Magnolia Bostad.

"Heimstaden and Magnolia's confidence in Veidekke is highly valued. We look
forward to cooperating closely to bring the project to a successful completion
and to deliver high-quality rental lease apartments to the residents of Lund,"
says Fredrik Bergkvist at Veidekke.

More about the project (Swedish): Råbylund - Nyproduktion i Lund -
Heimstaden (https://heimstaden.com/se/nyproduktion/rabylund/)

The contract is included in the Q2 2025 order book.

For more information, contact:
Jørgen Wiese Porsmyr, CFO Veidekke ASA, ph. +47 907 59 058

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.