Veidekke ASA: Building more homes for OBOS in Tønsberg

OBOS has awarded Veidekke the contract to also build the third stage of the
Teieparken residential project in Tønsberg. This involves the construction of
167 environmentally certified homes in four stages of construction that will be
initiated as sales progress. This is a turnkey contract valued at NOK 385
million, excluding VAT for the entire stage.

"This contract extends the good partnership between OBOS and Veidekke on the
Teieparken residential project. This started with a partnership agreement on
project development back in 2017, which proceeded to the development contract in
2018 for the first 64 apartments that now have been completed. We are grateful
for the confidence shown in us to continue building," says district manager Lars
N. Hjertås of Veidekke Bygg Vestfold and Telemark.

Teieparken will be a green and vibrant city district for everyone in central
Tønsberg. The actual park (which is public), will be at the heart of the vibrant
residential community. Here walkways will be developed, in addition to plenty of
space for play and recreational areas. The 167 apartments in the third stage
will be in buildings of between two and five storeys above underground parking.

"Teieparken is a big and important project for OBOS and our members in Vestfold,
and we are pleased to extend the partnership with Veidekke Bygg. It is
particularly pleasing to us to offer BREEAM certified homes in Vestfold as a
part of our environmental initiative in OBOS," says EVP Arne Baumann of OBOS
Boligutvikling.

Sales are scheduled to start in January. See more information about the project
at www.obos.no/teieparken


For more information please contact:
District Manager Lars Nicolas Hjertås, tel. +47 92 29 71 92,
lars.hjertas@veidekke.no
Communications Manager Helge Dieset, tel. +47 90 55 33 22,
helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction companies. The company
undertakes all types of construction and civil engineering contracts, maintains
roads, and produces asphalt and aggregates. Veidekke emphasises stakeholder
involvement and local experience. Its annual turnover is approx. NOK 38 billion,
and around half of its 8,100 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.