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Regulatory press release

Veidekke: To start construction of wind farm in Sweden for SR Energy

Veidekke
Veidekke and SR Energy are starting construction of the Vindpark Horshaga
project in Uppvidinge, Sweden, having completed the project design phase. The
project is a collaborative design and build contract, with a production phase
contract value of approx. SEK 190 million. The wind farm is expected to start
supplying electricity to the grid from late 2025.

Veidekke's assignment comprises construction of roads, crane sites, internal
power grids and foundations. Work on the project starts in early 2024 with the
marking of assets worthy of conservation, before logging for roads and crane
sites begins. Delivery and installation of the actual wind turbines is expected
to commence in spring 2025.

"The Horshaga wind farm will give southern Sweden a welcome addition of
renewable energy, enabling regional development and electrification of
industry," says Peter Zachrisson, CEO of SR Energy.

"We are excited to begin construction. Together, our collaborative work methods
and joint project organisation provide the confidence that is essential for
complex projects like this to succeed," says Leif Adamsson at Veidekke
Infrastructure Sweden.

Vindpark Horshaga comprises the project areas Horshaga, Älmedal and Rosenholm,
where 25 wind turbines with a total output of 147 MW will be erected. Vindpark
Horshaga is the wind power supplier SR Energy's second wind farm in Uppvidinge
municipality. Uppvidinge belongs to Swedish electricity region 4, which is the
region in Europe with the largest deficit in locally-produced electricity in
relation to electricity use.

The contract is included in the order book for Q4 2023.

More information (Swedish) about Vindpark
Horshaga (https://srenergy.se/vindparker/horshaga/)

For more information, contact:
Marcus C Nilsson, EVP Veidekke Infrastructure Sweden, ph. +46 76 840 05 56
Jørgen Wiese Porsmyr, CFO Veidekke ASA, ph. +47 907 59 058

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

Veidekke 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. Its annual turnover is
approximately NOK 39 billion, and 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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