Veidekke ASA: New housing contract at Ulven in Oslo

Team Veidekke DA has been commissioned by Ulven Bolig AS (OBOS) to undertake
another stage of construction, comprising 182 apartments, underground garage
facilities and outdoor facilities. The contract is a turnkey contract valued at
around MNOK 365, excluding VAT. Ulven is one of OBOS' largest ever development
projects, with nearly 3,000 apartments.

The new site has been named Ulven Vest and is the second such site developed by
Team Veidekke. The finished project will have beautiful parks and market squares
in the immediate vicinity, underground parking and car-free sections of street
on both sides. The location is central in what will be the new Ulven, with only
a short walking distance from the shopping centre and metro station at Økern. It
is a continuation of the concept for the first 342 apartments from the
innovation bid in 2017.

"Thank you for commissioning us. Ulven Vest is an exciting project in which,
together with OBOS and our partners, we have further developed our concept from
the initial site at Ulven. Together, we have come up with what we believe to be
the future of collaboration when it comes to constructing attractive housing
that is affordable to most people," says Anders W. Haugen, Director at Veidekke
Bygg Oslo.

"It is extremely satisfying that we can now conclude the next site at Ulven
together with Team Veidekke. The collaboration and the process have been
outstanding and we look forward to getting started with the construction. It is
impressive that, together, we are able to construct Ulven at much lower costs
than most of our other housing projects. The quality and outdoor areas at Ulven
are at least the equal of the other OBOS projects in Oslo," says Nils Morten
Bøhler, CEO of OBOS Eiendom AS.

"At Team Veidekke, we are really starting to see the benefits of this way of
thinking and organising. We work together at Ulven three days a week, ensuring
an excellent sense of ownership and continuity and together we identify the
best, most cost-effective and rational solutions. We are now looking forward to
getting started on the construction of yet another site here at Ulven," says
Project Manager and General Manager Espen Stordal from Team Veidekke.

Team Veidekke DA comprises Veidekke Bygg Oslo, Bravida Norge, LPO Arkitekter,
Erichsen & Horgen, Dr techn. Olav Olsen and Landskaperiet. Ulven Bolig AS is a
subsidiary of OBOS Eiendom AS. Find more information about the project at
www.obos.no/ulven

The contract is included in Veidekke's order book for Q2.

Caption: Signing of contract with (from left) Broska Karim, Espen Stordal,
Gunhild Hanto Samer (all Team Veidekke) and Halvor Olsen (Ulven Bolig/OBOS).



For more information, contact:
Director Anders W. Haugen, tel. +47 97 66 63 14, anders.haugen@veidekke.no
Head of Department Kaare Gilhus, tel. +47 45 03 01 97, kaare.gilhus@veidekke.no

Communications Manager Helge Dieset, tel. +47 90 55 33 22,
helge.dieset@veidekke.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028
-Pressebilder-Veidekke/)
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Veidekke is one of Scandinavia's largest construction and property development
companies. The company undertakes all types of building construction and civil
engineering contracts, develops residential projects, maintains roads, and
produces asphalt and aggregates. The company is known for its engagement and
local knowledge. Annual turnover is approximately NOK 39 billion and around half
of its 8600 employees own shares in the company. Veidekke is listed on the Oslo
Stock Exchange and has always posted a profit since it was founded in 1936.