Notifiable trades

AF Gruppen ASA (AFG) has completed the sale of 86,300 own
shares to key employees and management, of which 44,700 were
sold to primary insiders. The sale is part of the company's
bonus program where parts of the bonus may be used to buy AF
Gruppen ASA shares at 20 % discount compared to the market
price as of 31.12.16, NOK 154.50.

When the share registration is completed, the number of own
shares held by AF Gruppen ASA will be 4,958.

See attachment for complete list of primary insiders share
transactions.