Betonmast, a subsidiary of AF Gruppen, has signed a contract with Folksom and
Coop Norge Eiendom for the construction of apartments and commercial premises in
Tønsberg. The contract is a turnkey project with an estimated value of
approximately MNOK 237, excluding VAT.

The Tolvsrød Square project comprises 42 apartments and will also include
commercial spaces. The total development area is approximately 9,400 square
meters, including outdoor areas.

"After a good collaboration period, we now look forward to continuing the
positive cooperation with Folksom and Coop Norge Eiendom during the execution
phase of this project," says Peter Sandrup, CEO of Betonmast.

Construction is scheduled to begin in the second quarter of 2024, with an
expected completion date in the second quarter of 2026. The project's start is
contingent on sufficient pre-sales.


For further information:

Peter Sandrup, CEO of Betonmast, phone: +47 915 88 645
Bård Frydenlund, EVP Sweden and Betonmast at AF Gruppen, phone: +47 918 68 621

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