Veidekke has been awarded a contract by the grid company Tensio to build a new
transformer substation in Klæbu. The design-and-build contract has a value of
approximately NOK 150 million excluding VAT and forms part of an existing
framework agreement between the parties with a duration of eight years.

"Building critical infrastructure is an assignment we are more than happy to
undertake, and we greatly appreciate the opportunity to contribute to a safe,
modern and reliable power supply for Trondheim for decades to come. The
construction works will be carried out in close collaboration with Tensio, with
a strong focus on safe operations and minimising impact on the surrounding
environment," says director Torgeir Loholt Wiig of Veidekke Bygg Trøndelag.

Tensio is responsible for owning, operating and developing the power grid in
large parts of Trøndelag. The new transformer substation in Klæbu will help
strengthen the power supply in the region and facilitate further development and
increased grid capacity. The project is part of a broader initiative to
modernise and expand the power grid and places high demands on execution
capacity, health, safety and environment (HSE), as well as technical quality.

"We are in a period where we are investing more than ever in the power supply
infrastructure in Trøndelag. This is necessary to ensure a reliable supply of
electricity and to facilitate increased capacity to support desired local and
regional community development. In this work, we depend on strong and reliable
suppliers, and we are very satisfied with the cooperation with our regional
partner, Veidekke Bygg Trøndelag. This is the fourth substation building project
we are carrying out together," says Audhild Kvam, CEO of Tensio.

Construction works will commence shortly after the summer, with planned
completion in June 2028. The contract was included in Veidekke's order backlog
in the first quarter of 2026.

For further information, please contact:

Director Torgeir Loholt Wiig, Veidekke Bygg Trøndelag, tel. +47 95 02 07 30,
[email protected]

Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22,
[email protected]

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Veidekke (http://www.veidekke.com/) 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 43 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.