Ferde AS – Bonds related to the Ryfast project rated AAA by Scope Ratings

06 Jun 2025 19:05 CEST

With reference to the stock exchange notice on 25 November 2024, Ferde received
an AA+ issuer rating from Scope Ratings.

Debt issued by Ferde AS is secured by project specific guarantees (selvskyldner
garanti) mainly from the three owning county municipalities of Vestland,
Rogaland and Agder. However, Ferde bonds related to the Ryfast project have a
co-guarantee between the Rogaland County Municipality (70%) and the City of
Stavanger (30%).

On 7 February 2025, the Rogaland County Municipality received an AAA (Stable)
rating from Scope Ratings.
https://www.scoperatings.com/ratings-and-research/rating/EN/178355

On 30 May 2025, the City of Stavanger received an AAA (Stable) rating from Scope
Ratings. https://scoperatings.com/ratings-and-research/rating/EN/178849

As of today, 6 June 2025, all bonds and commercial papers issued by Ferde AS
related to the Ryfast project with a co-guarantee from Rogaland County
Municipality (70%) and the City of Stavanger (30%) have been assigned a long
term issuer rating of AAA (Stable) and a short term rating of S-1+/Stable by
Scope Ratings. https://scoperatings.com/ratings-and-research/rating/EN/178877

The bonds rated AAA (Stable) related to the Ryfast project are as follows:
NO0010875271 – FERDE21 PRO
NO0012805789 – FERDE 30 PRO

Future Ferde bonds related to the Ryfast project with a co-guarantee between the
Rogaland County Municipality (70%) and the City of Stavanger (30%) are expected
to be assigned a similar rating.

Bergen, 6 June 2025
Øystein Holm Solheim, CFO
Phone: +47 47636429
E-mail: Oystein.Holm.Solheim@ferde.no

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