Extension of existing contract with Hydro

Oslo, 11 March 2016 – Following Hydro’s formal decision to build the planned full-scale technology pilot at Karmøy, the project plan has been revised and the scope of work for Multiconsult ASA has been extended.

11. March 2016

The estimate for the work done by Multiconsult ASA on the Karmøy technology pilot project has increased by approximately NOK 60 million for engineering work Multiconsult ASA performs for Hydro and various personnel support to Hydro’s project organization.

Hydro’s investment in the Karmøy technology pilot is one of the largest, single investments in Norwegian mainland industry, outside the oil and gas sector, since 2004. When Hydro’s pilot plant in Karmøy begins to operate in 2017, it will have the most climate and energy efficient aluminum production technology in the world.

For more information, please contact:

   Investor relations:
      Mirza Koristovic, Head of Investor Relations
      Phone: +47 93 87 05 25
      E-mail: ir@multiconsult.no

      Gaute Christensen, VP Communications
      Phone: +47 911 70 188
      E-mail: gaute.christensen@multiconsult.no

Multiconsult is a leading Norwegian multidisciplinary engineering consulting firm, with more than 2 000 employees and 45 offices in Norway and abroad. Multiconsult’s home market is Norway, representing 92 per cent of 2014 operating revenues. The Company focuses on six market areas: Buildings and Properties, Transport and Infrastructure, Energy, Oil and Gas, Industry and Environment and Natural resources. The Company has an operating history that spans more than a century, with the inception of Norsk Vandbygningskontor in 1908. In 2014 Multiconsult completed more than 8 000 projects for approx. 3 700 different customers.