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Regulatory press release

Veidekke: Rehabilitating and remodelling Oslo Atrium

Veidekke
After completing the interaction phase, Veidekke has signed a contract with
Watrium AS to rehabilitate and remodel the Oslo Atrium office building in
Bjørvika. The assignment will be carried out as a collaborative contract and is
worth approximately NOK 740 million excluding VAT.

Oslo Atrium was built 20 years ago for Watrium by Veidekke with NIELSTORP+
arkitekter AS on the team, and it is the same parties who will now carry out the
significant upgrade that brings the building up to date and further develops the
property with additional qualities.

"We appreciate the confidence shown in us and being awarded the contract. We
have a thorough and good interaction phase behind us, and look forward to
cooperating further with Watrium and the users of the building. We particularly
appreciate the assignment since this is a sustainable project and at the same
time the largest contract to date for our rehab department," says department
manager Rune Andersstuen of Veidekke Bygg Oslo.

Oslo Atrium will be a sustainable commercial building that will be
environmentally certified in accordance with the standard BREEAM In-Use level
Very Good. By renovating existing buildings, greenhouse gas emissions are
reduced by 70 percent compared to building a similar new building. A reuse
survey has been carried out so that a good part of the building will be reused,
including in other construction projects in Oslo. In addition to district
heating, there will now be a large solar panel system on the roof.

"In addition to being a modern and future-oriented commercial building, our
ambition is for Oslo Atrium to be an attractive meeting point for the public in
Bjørvika where the use and atmosphere can be changed and adapted throughout the
day," says Oscar Wilhelmsen, who is responsible for Watrium's real estate
investments.

In total, 36,000 m2 will be modernised into a state-of-the-art building of the
highest quality, with restaurants and other services at ground level to
contribute to life in Oslo's most interesting district. The largest tenant will
be KPMG, which will move into three of the floors, and to top it all off there
will be a new spectacular building (UFO) and roof terrace.

Construction work has started and is scheduled for handover in March 2025. The
contract is included in Veidekke's order book for Q2 2023. Read more about the
project here (http://www.osloatrium.no/eiendommen).

For further information, please contact:
Head of department Rune Andersstuen of Veidekke, tel.: +47 91 83 33 80,
rune.andersstuen@veidekke.no
Communications Manager Helge Dieset, +47 90 55 33 22, helge.dieset@veidekke.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028
-Pressebilder-Veidekke/)
Subscribe to messages from
Veidekke (http://veidekke.com/no/borsmeldinger/abonner-pa-meldinger/)

Watrium (https://watrium.no/) is a private investment company focused on long
-term value creation. The company invests in and works to develop companies, on
and off the stock exchange, through active ownership. Watrium also manages a
significant real estate portfolio, primarily within office real estate in and
around Oslo.

Veidekke (http://www.veidekke.no) 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. Annual
turnover is approx. NOK 39 billion, and almost 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.
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