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Regulatory press release

AFG: To construct cable tunnel in Oslo

AF Gruppen
AF Gruppen has been the appointed contractor to build a new cable tunnel for
Statnett in Oslo.

Statnett is responsible for the high voltage power distribution in Norway. As a
part of upgrading of existing high power distribution net in Oslo, Statnett is
to build a cable tunnel between Sogn and Ulven. The cable tunnel is 6.6
kilometers long and to be excavated from two sites. The contract includes road
construction and cable support.

Works are scheduled to commence in February 2023 and will be completed in five
years.

The contract has an approximate value of NOK 1,800 million excl. VAT.

"AF Gruppen is very satisfied to be the appointed contractor for this tunnelling
project. This project utilizes our competences and capacity. We are looking
forward to a good cooperation with Statnett." says Amund Tøftum, CEO of AF
Gruppen.


For further information:
Geir Flåta, EVP Civil Engineering, tel. +47 99 40 15 10
Amund Tøftum, CEO, tel. + 47 92 02 67 12
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