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Regulatory press release

AFG: To build school and kindergarten in Oslo

AF Gruppen
Betonmast, a subsidiary of AF Gruppen, has been nominated by Oslobygg KF for the
construction of a new school and kindergarten in Oslo. The contract is a turn
key contract valued at approximately NOK 500 million, excluding VAT.

The project involves detailed planning and construction of a new school and
kindergarten for people with multiple disabilities, Haukåsen School, with
associated outdoor buildings and transport facilities. The building will be
erected as a passive house and Nearly Zero Energy Building (nZEB), with
requirements including solar cells, solar collectors, and a blue-green roof. A
therapy pool is also incorporated in the building.

"Betonmast has built a number of schools for Oslobygg, and now we look forward
to realising Haukåsen School, which will be a great and modern building adapted
to children and young people with special needs," says CEO Peter Sandrup of
Betonmast.

Start of construction is estimated for the first half of 2024, with completion
in the second quarter of 2026.


For further details, please contact:

Peter Sandrup, CEO Betonmast, tel.: +47 915 88 645
Bård Frydenlund, Executive Vice President, Sweden and Betonmast for AF Gruppen,
tel.: +47 918 68 621
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