NRC Group ASA - Appointed to a new alliance contract Finland

13 Nov 2024 08:00 CET

The City of Helsinki and Metropolitan Area Transport have appointed NRC Group
Finland, a company wholly owned by NRC Group ASA ("NRC"), YIT Finland, Sweco and
Sitowise as alliance parties for the Helsinki Urban Development and Tramway
Program Alliance (the "Alliance").

Western Helsinki Tramway is the first confirmed project in the Alliance, with
options for the design and construction of the Western Harbour Light Rail (LäPi)
and Viikki-Malmi Tramway (ViiMa).

NRC's share of the design phase of Western Helsinki Tramway is approximately EUR
2 million, and is scheduled for completion in 2025. Should the project advance
to the implementation phase, NRC's value of the contract will be approximately
EUR 80 million, with construction expected to proceed from 2026 through 2031.

"We are very proud to announce another light rail contract in NRC Group Finland.
The alliance contract confirms years of hard work by NRC Group Finland together
with its partners. The contract confirms our leading position within this
segment and our ability to deliver complex and sustainable infrastructure
projects", says Anders Gustafsson, CEO of NRC Group ASA.

The program will be executed under the alliance model. This implies that the
client organization formed by the city of Helsinki and Metropolitan Area
Transport is combined into one organization together with the contractors NRC
and YIT, including consulting companies Sitowise and Sweco, and with the other
chosen consortium. NRC and YIT will construct together, sharing the risks and
benefits related to their part of the project implementation.

NRC has been involved in six rail transport related alliance projects in
Finland, including Tampere tramway, which was the largest ongoing alliance
project before Alliance Program was appointed.

For further information, please contact: Åsgeir Nord, CFO of NRC Group, (+47)
957 34 985.

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