Norconsult awarded contract with AF Gruppen/Kystverket

26 Jun 2026 17:21 CEST

Sandvika, 26 June 2026 (OSE: NORCO): Norconsult will lead the design and
engineering group at the Stad Skipstunnel connection project, supporting
contractor AF Gruppen in this milestone project for the Norwegian Coastal
Administration (Kystverket).

The Stad ship tunnel will become the world's first full-scale ship tunnel. The
tunnel will penetrate through the Stad Peninsula, connecting Moldefjorden and
Kjødepollen in Western Norway. The ship tunnel will measure approximately 1.7
kilometres in length, 40 metres in width and 50 metres in height, and is
designed to accommodate vessels up to 16 metres wide and with a draft of up to
12 metres.

The project goals is to reduce the risk of ship accidents, cut waiting times for
shipping and facilitate more efficient sea transport in storm-prone waters. In
the Norwegian Revised National Budget 2026 NOK 150 million has been allocated
for project start-up, while the total project cost framework is set at NOK 8.6
billion. The project is developed and managed by Kystverket.

"The Stad ship tunnel is widely regarded as a landmark infrastructure project
for Norway's coastline. Norconsult will contribute with our multidisciplinary
expertise and support effective collaboration between AF Gruppen, Kystverket and
the wider project organisation. The project will enhance maritime safety in the
Stad area and represent a significant infrastructure investment for Vestland
county," says Bård Hernes, EVP, Norway Head Office at Norconsult.

The project is expected to commence in the second half of 2026 and continue
until 2032. The estimated contract value for Norconsult is NOK 165 million. The
contract award is subject to a standstill period of ten days.

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For further information, please contact:

Investors: Christian Salbu Aasland, SVP Investor Relations & Business
Intelligence, IR@norconsult.com

Media: Henrik Charlesen, Head of External Communication,
Henrik.Charlesen@norconsult.com

About Norconsult

Norconsult is a leading pan-Nordic interdisciplinary consulting firm, combining
engineering, architecture and digital expertise across projects of all sizes,
for private and public customers in infrastructure, energy and
industry, buildings and architecture. Headquartered in Sandvika,
Norway, Norconsult's delivery model is centred around knowledge hubs and local
presence through approximately 7,200 employees across more than 140 offices in
Norway, Sweden, Denmark, Iceland, Poland and Finland.

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