YIT to participate in two dam projects in Norway

YIT Corporation Press release, August 5, 2019, at 08:30 a.m.

YIT will build a new dam on Lake Mjåvatn to replace the old dam built in the 1940s and repair the Kuli Dam that was built in the mid-1960s.

YIT will build a new dam for E-CO Energi in the municipality of Ål in Southern Norway. The new dam will replace the old dam from the 1940s on Lake Mjåvatn and will be located below the old dam. In addition to building the dam, YIT will also excavate a tunnel in the area that is about 500 metres long.

The new dam will be approximately 100 metres long and 11 metres high at the highest point.

YIT will work on the project from summer 2019 to autumn 2020. The entire project is set to be completed in summer 2021. E-CO Energi is the second largest energy producer in Norway and is owned by the City of Oslo.

YIT will also repair the Kuli Dam, located in the municipality of Sirdal in Southern Norway, for Agder Energi. The dam was built in the mid-1960s.

The contract covers the repair of the dam, which mainly involves slip forming construction. The dam is 22 metres high and 320 metres long.

The work began in May 2019, and the repairs will be complete in November 2020.

“Hydropower projects are an important focus for YIT’s infrastructure projects. The Mjåvatn Dam is YIT’s fourth hydropower project in Norway. The other ongoing projects are the Kuli Dam and the Jølstra and Løkjelsvatn power stations. Sustainability is an important part of YIT’s strategy, and we are proud to be involved in the development of near-zero emissions energy production for the needs of a growing population,” says Harri Kailasalo, EVP, Infrastructure projects segment at YIT.

For further information, please contact:

Harri Kailasalo, EVP, Infrastructure projects segment, YIT Corporation, tel. +358 (0)400 401 538, harri.kailasalo@yit.fi

Pirita Tiusanen, Communications Manager, YIT Corporation, tel. +358 (0)44 240 9822, pirita.tiusanen@yit.fi

YIT is the largest Finnish and a significant Northern European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic states, the Czech Republic, Slovakia and Poland. The new YIT was born when the over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

About Us

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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