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ANNUAL REPORT 2011

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ABOUT NORCONSULT

Countries with Norconsult offices in 2011Countries worked in 2011Countries worked in since 1956

Norconsult is an interdisciplinary engineering and design consultancy, providing services to clients in the public and private sectors worldwide.The company is the leading Norwegian consultancy, a considerable European player, and has proven a substantial international presence and experience in projects on every continent.

Norconsult contributes to a sustainable society through deeply rooted and targeted consulting services. The company is committed in its consultancy and selection of solutions, to take into consideration society's vulnerability, and has substantial experience within the fields of environment, safety/risk and preparedness.

Norconsult covers all phases of a project cycle from the earliest pre-investment and feasibility studies, through planning and design, tendering and construction supervision, to project implementation, operations and maintenance. The company’s statutes and operations comply with the general require-ments, codes of ethics and quality assurance policies of the International Federation of Consulting Engineers (FIDIC).

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CEO’s reportThe Board’s Annual ReportAnnual Accounts 2011• Income statement• BalanceA glance at 2011 • Norconsult - a group with broad scope• International priority areas• Professional skills development and knowledge sharing• Technology and innovationBusiness areas and projects in 2011Office addresses

CONTENTS

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The Norconsult Group’s profitable growth continues

Through more than 80 years of experience, the company has built a solid foundation as a key player in Norway and internationally. Today it is Norway’s largest, most complete, and most sought-after consultancy focusing on planning and engineering for society.

Local consultancy backed by the expertise and experience of the entire organizationAt the end of 2011, Norconsult was represented in 43 office locations in Norway and 28 offices abroad. Our business operations are based primarily on value creation through projects. Every year, the company carries out some 12 000 projects of all sizes. Each of them is a separate business operation.

In our project implementation, we aim to ensure that we have a mutual understanding with the client regarding the goals, challenges, progress, and deliverables. We will ensure that we have relevant expertise and capacity avail-able to complete the project as agreed, and that we deliver successful results based on professional project manage-ment and effective communication with our client.

Through our projects, we demonstrate our performance and accomplishments. Due to the expertise of our employ-ees, we achieve a competitive advantage and our clients recognize us as the consultant of choice. Our contracts are awarded by professional and demanding clients, who have clear expectations from us. This keeps us on our toes and inspires us to make the improvements needed to ensure Norconsult’s healthy development.

We thank our many clients and partners for good contact and mutually profitable dialogues in 2011, and for all the constructive feedback that confirms that we have been valuable to them.

Profitable growthThrough the years, we have invested substantial resour-ces in broad-based development of expertise – our most important asset, even though it cannot be specified directly in the balance sheet. Our own productivity and efficiency are also prerequisites for creating good results. We are pleased to note that 2011 was another record year for the Norconsult Group – with revenues of NOK 2766 million, which is NOK 532 million higher than in 2010. The operat-ing income before tax was NOK 239 million.

It is gratifying to see that our vigorous growth has not weakened the company’s earning capability and capital adequacy. Good results provide motivation, and the finan-cial freedom that is essential to enable the company to prosper in a market that is constantly changing.

It is also gratifying to see the significant contribution to the Group’s success made by our largest subsidiaries, Technogarden (consulting and recruitment) and Norcon-sult Informasjonssystemer (integrated IT solutions for the construction industry).

Strengthened market position - increased competitiveness Through organic growth and establishment of new opera-tions and acquisitions in 2011, Norconsult has continued its result oriented initiatives to extend its range of services and its capacity. We are experiencing strong demand for our expertise in the market, particularly in transport and infrastructure. Our growth stems from our focus on the development of expertise.

At the end of 2011, the Norconsult Group had about 2170 employees. We will continue to develop our employee-owned multidisciplinary company so that we can compete

Norconsult is to be a leading Nordic supplier of knowledge-basedservices, as well as a leading international player in selected markets. Our goal is to be the largest player in our sector in the Norwegian market – and a clear first choice.

CEO’s report

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on an equal footing with the major international players. Growth is an important prerequisite for strengthening our competitiveness and maintaining our leading position.

During the year, we hired many new colleagues provid-ing the company with valuable expertise and new market opportunities. In 2011, we acquired 12 companies with 190 employees in total. We welcome all our new employees to Norconsult!

New international momentumThe Group is also making progress outside Norway. In Sweden, we have seen strong growth in the number of offices and staff, through the development of resources focused on the energy and hydropower market as well as acquisition of the operations of Mark & Marin Ingenjörsbyrå AB in Örebro. At the end of 2011, the Swedish business had total revenues of NOK 312 million, corresponding to growth of 16%, and we had 17 office locations.The company is working toward further growth in Sweden by strengthening our interdisciplinarity and achieving broader geographic and market coverage.

In Denmark, we continued our organic growth and we are now well positioned for water and waste water projects as well as for the pharmaceutical industry. Our strategy ahead is sustained organic growth and acquisitions in the Danish market.

Outside the Nordic countries, Norconsult has had assign-ments in more than 150 countries over the years. In recent years, we have concentrated our activities and expanded operations, in part through acquisitions, so that we are now in an excellent position to compete in selected markets in South America, southern Africa and South-East Asia. These regions offer great potential for development of sustainable energy, and our strong focus on renewable energy in these areas has yielded results.

Norconsult currently has a strong commitment to major hydropower projects, in which our expertise and unique experience are in demand. In a world where greenhouse gas emissions are steadily increasing, it is motivating and

in line with our social responsibility and desire for sustain-able development that we are heavily engaged in renewable energy. We are therefore taking active measures against greenhouse gas emissions.

Decentralized organization - same brand Norconsult is a decentralized organization with a flat struc-ture in which local knowledge about the client and the project are key factors for success. As Norway’s largest consultancy company, we want to offer clients something more in terms of access to resources, specialized skills and experience. We achieve this by sharing knowledge and co-operating effectively across disciplinary, organizational and geographical boundaries in a dispersed organization.

During the year, we continued the development of our specialized networks, improved our IT infrastructure, and invested significant efforts in increasing the professionalism of our project management. We make a constant effort to become more effective in our project implementation and in preparing to face even tougher competition in the future.

Norconsult offers consulting in a variety of disciplines, through many organizational units and our local presence by having offices in many countries. The goal is that the Norconsult brand and thus the entire Group will have a strong and consistent profile, so that partners and clients have the same lasting impression of Norconsult, anywhere in the world.

Corporate social responsibilityCorporate social responsibility is important to us at Norcon-sult, and safeguarding this is a key aspect of our ethical guidelines. In our consulting and choice of alternatives, we are sensitive to the vulnerability of society and we contribute to solutions that take the environment into account. Over a number of years, we have developed considerable expertise in issues involving the environment, safety, risk manage-ment, and emergency preparedness planning. We see an in-creasing demand for our services in these areas. Corporate social responsibility requires an all-round understanding and active cooperation between the client and ourselves. This is something we strive for in every project – regardless of size.

John Nyheim, CEO

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The culture of Norconsult is embedded in the principles of honesty and respect for other people. In order to succeed in running a successful company with a long-term perspec-tive, we depend on trust and a strong reputation among our clients and staff as well as in society. Our ethical guidelines contribute to ensuring that all individuals acting on behalf of Norconsult comply with our ethical standards and company values.

Changing technology and environmentally sound constructionThe building and construction industry is undergoing excit-ing changes. New contract models, technology development and Building Information Modelling (BIM) all create oppor-tunities for closer and more binding cooperation between the different players in a construction project. The industry is also concerned with “green buildings”, reduction of environ-mental impact, and energy-efficient heating solutions.

As the Norwegian market leader in our industry, it is natural that we are at the forefront in this development. This makes sense on two counts - taking responsibility for the further development of the construction industry, while being the first to implement new technologies, and gaining experience and knowledge to meet new needs in the market.

Our focus on development and innovation creates new forums in which ideas are launched in constructive meetings

with our clients. The company has established its own train-ing course for innovation process managers so that we can contribute as facilitators in creative project phases. In our company, we want to remain curious all the time, constantly looking for ways to improve our project implementation – not only by doing things right, but also by doing the right things.

The road aheadThe financial strength, expertise, market position, and order books of the Norconsult Group create a sound platform for the company in the future. We have clear ambitions for sustained growth in the time ahead.

There is a high level of activity at the beginning of 2012, both domestic and in the international market. In transport, infrastructure, energy and the environment, we are opti-mistic about the short- and long-term prospects. With the upturn in residential and commercial construction, there are good reasons to look forward to a high level of activity throughout 2012.

Capability, determination, and the desire for change and renewal are the most important qualities of our company in the time ahead. Norconsult has never been in a better situa-tion, and we strongly believe that the company will continue to assert its position in the competition for exciting new projects in the future.

John NyheimCEO

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Board’s Annual ReportDe går �nt å speilvende også: Opasitet på 70 eller 100%

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Norconsult Holding AS is the parent company of Norconsult AS (Operation) and Norconsult Eiendom AS (Property). Norconsult Holding AS owns all the shares in both companies.

In 2011, Norconsult increased its turnover and made a profit that the board considers to be satisfactory. Through the establishment of new activities and acquisitions, Norconsult has strengthened its position both at the head office in Sandvika, Norway and at several of its offices abroad. Norconsult maintained its broad range of activities through its engagement in projects in 50 countries in 2011.

Description of the companyNorconsult is Norway’s leading interdisciplinary advisorycompany within social planning and engineering design.The company is a leading player internationally in selected market areas.

Norconsult is wholly owned by its staff. At the end of 2011, the Group had about 2170 employees. The head office is located in Sandvika, outside Oslo. In addition, business is carried out from 43 offices in Norway. New offices established in 2011 were: Mosjøen, Gjøvik, Fauske, Ulsteinvik, Ski, Alta and Fredrikstad. In Sweden, Norconsult has 17 offices. New offices established in 2011 were: Örebro, Ludvika, Uppsala, Älvkarleby, Sundsvall, Sollefteå, Örnsköldsvik and Västerås. Outside Norway and Sweden the company has local offices in Denmark, and permanent establishments in Africa (South Africa, Mozambique and Botswana), Asia (the Philippines, Laos and Thailand) and South America (Chile and Peru). At the same time the company has several established project offices.

Norconsult provides services through all the phases of projects, from the earliest feasibility studies through planning and engineering to site management, operation and maintenance. About 12 000 projects, of all sizes, are carried out each year.

In 2011, Norconsult acquired the business activities of Palm & Bratlie AS, Ask Rådgivning AS, Stavsengs Ingeniør-firma AS, ElektroTeam AS, ElektroPlan Møre AS, Energi and Miljø Consult AS, Elplan AS, Jørstad AS, Myklebust AS and Geovest-Haugland AS in Norway. Abroad, Norconsult acquired the business activities Mark & Marin Ingenjörsbyrå

AB in Sweden and IYANDA Power Technologies Ltd in South Africa/Johannesburg. CONTROL SYSTEM Norconsult’s control system is an integrated system to meet the requirements, risks and objectives, which are based on our core business: planning and implementation of projects of all sizes involving a wide range of expertise for a variety of clients. Our control system meets all requirements in relation to relevant legislation and NS-EN ISO 9001. RESEARCH AND DEVELOPMENT Through active focus on R&D, Norconsult creates an important competitive advantage by being at the forefront of implementing new knowledge and technology in its consultancy services. Effective planning and good solutions require both standardization and creativity.

Norconsult develops methodologies that open the way forinnovative thinking in all projects and for all employeesthrough our Innovation Programme. Creative techniqueshave already been utilized in numerous projects with goodresults.

SOCIAL RESPONSIBILITY AND ETHICS Norconsult takes its responsibility seriously, and has firmly stipulated policies for its consultancy services. The company also emphasizes that its advice and choice of solutions are to take care of societal vulnerability.

For several years the company has built up considerableexpertise in this field, and there is also a growing demandfor its services in environmental, safety / risk andpreparedness issues.

The Norconsult corporate culture is based on soundbusiness practices, honesty and respect for other people.Norconsult's success is based on a good reputation andtrust with its clients as well as other stakeholders around theworld. This is part of the professional standard required from every employee.

Norconsult’s ethical guidelines ensure that all individualsacting on behalf of Norconsult act in an ethical manner,adhere to the applicable laws and regulations and workin accordance with the standards set by Norconsult.

Board’s Annual Report 2011

Norconsult Holding AS Group

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Norconsult will continue to pay close attention to ensure thatits international engagements are conducted in accordancewith its ethical guidelines, and will withdraw its operationsfrom a country if the company sees that conditions are notconducive to doing business according to its standards.

As a continuation of the work on the ethical guidelines, Norconsult is working on establishing a policy that encompasses all the elements involved in social responsi-bility in Norconsult (Corporate Social Responsibility - CSR) and complement its control system where needed. Through this work, Norconsult intends to demonstrate that it is a company that takes societal responsibility seriously, both in its own operations and on behalf of its clients.

In 2009, a fine was imposed on Norconsult AS by the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) in connection with irregular payments in a project in Tanzania where Norconsult was engaged. Because the company did not accept the fine, the case was heard at the Oslo District Court and Norconsult was acquitted on 15 July 2011. Økokrim has appealed the case to the Borgarting Court of Appeal and the trial is scheduled for the second half of 2012.

The company has a strong focus on ethics and correct business practice. Thus it is giving top priority to internal measures to prevent any recurrence.

Norconsult also affects people, the environment and material assets directly through its direct daily activities.The employees' behaviour, especially when working outside the home office environment, can affect both their own and other people's safety, health and working environment. Such risks are minimized through good practice and awareness.

HEALTH, SAFETY AND ENVIRONMENT (HSE) Norconsult has significant and lasting impact on people, the environ-ment and material assets through the advice the company provides to its clients. Norconsult has implemented requirements for the safeguarding of these issues in its procedures for implementation of projects, in line with requirements for the safeguarding of technical and professional quality, time and financial matters.This ensures that the company provides its clients with sound advice that safeguards people, the environment and material assets in a satisfactory manner. Furthermore, Norconsult affects the environment directly through its own

activities - specifically resource consumption, pollution andwaste as a result of its operational activities. This influenceis limited, but still it is desirable and possible to improvethis through concrete measures.

To achieve an even stronger focus on safeguarding the environment, the company has developed an environ-mental policy and an action plan for improvements in its direct impact on the environment. Improvements of the company’s procedures for safeguarding the external environment in the planning, design, procurement and implementation of projects are also underway.

The energy needs of the company’s offices are mainlycovered by electric power, while the head office’s energyneeds are partly covered by district heating systems.Norconsult participates in return and recycling programmesfor consumer goods where such arrangements areestablished.

In 2011, the company has, among other things, alsoimplemented the following environmental initiatives:• Comprehensive energy conservation measures (supported by ENOVA) to reduce energy consumption in the building at the head office in Sandvika, Norway.• Identification and implementation of specific environmen-

tal initiatives at the office in Bodø, Norway and certifica-tion as an Eco-Lighthouse (pilot). The Eco-Lighthouse Foundation offers environmental certification that helps private and public enterprises to conduct profitable and environmentally friendly operations.

In January 2012, the Norwegian National Coastal Admini-stration approved Norconsult as a new Recognized Security Organization (RSO). The National Coastal Administration has thus approved resource people in the company to conduct vulnerability assessments and prepare security plans for ports, in compliance with legal requirements for safeguarding ports against acts of terrorism.

To ensure continuous development of our systematic HSEwork in our assignments, Norconsult has an HSE Coordinator Group consisting of representatives from all divisions and offices in Norway. The Group is a driving force to promote HSE compliance in its projects and assignments.

Internal factorsSAFETY, HEALTH AND WORKING ENVIRONMENTNorconsult actively works to develop a stimulating workingenvironment that provides the opportunity for personal

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development within the different career directions offered.Norconsult aims to attract the most skilled engineers and technical consultants on the market.

The Board considers Norconsult’s working environmentto be good. The company's HSE Group had 4 meetings in 2011. The cooperation with employee organizations is regarded as good.

Sick leave in Norconsult AS constituted 3.2% of total working hours compared with 3.1% for 2010. The short-term absence amounted to 2%, while long-term absencewas 1.2%. The company has a medical and health insurance programme for its employees.

Norconsult has its own policy for internal control of health,safety and security and a system that meets the InternalRegulations.

There were 4 recorded accidents in 2011 in Norway andno accidents abroad. No accidents resulted in serious injuries. EqUALITY AND DISCRIMINATION The company seeks to safeguard gender equality, equal opportunities and equal rights. It works to prevent discrimination based on ethnicity, national origin, ancestry, skin colour, language, religion or belief.

As of 31.12.2011, Norconsult had 23.9% female staff and11.1% of its management are female. Efforts are underwayto increase female representation in the operational unitsand at management level in the company. The proportion ofwomen in the parent company's board of directors is 22%.4 of the 6 elected representatives to the internal groupfor safeguarding the work environment are women. Theelected senior safety representative is also a woman.

SHAREHOLDER CONTROL AND COMPANY MANAGE-MENT The Board believes that Norconsult follows good practice for accounting, management and control. The Board plays an independent role in relation to management. None of the Directors on the Board has any function in the management team of Norconsult.

During 2011, the Board has held 7 board meetings in addition to two seminars related to strategy development for the period 2012-2015. The Board is informed as requiredof important events between board meetings.

It is the annual general meeting of the parent company(Norconsult Holding AS) that decides the remuneration ofthe board members, based on recommendations from theelection committee in Norconsult Holding AS. The election committee is elected by the annual general meeting. In addition, the board nominates one representative. The main task of the committee is to ensure that the Board maintains a suitable balance between knowledge and experience for the board members chosen by the shareholders.

Outlookthe Norconsult Group's financial strength, expertise andmarket position create a very good basis for the companyin the future. Market prospects are considered positive inmost business areas the company operates in.

Norconsult has been an active participant in the restructuring taking place in industry in Norway. The company will continue to participate in this effort both in the Norwegian and Scandinavian markets.

Internationally, in line with the Group's strategy, Norconsultwill expand the involvement in the locations where the Group can utilize its unique expertise, is competitive in terms of price and has a channel into the market.

The company has a satisfactory financial position. TheBoard does not anticipate a need for additional capitalduring the year. The Board still emphasizes that there is general uncertainty related to assessments of future conditions. Also, developments in the market depend on economic conditions and the general economic development.

Annual accounts 2011PROFIT, BALANCE SHEET AND CASH FLOW FOR THE NORCONSULT HOLDING AS GROUP The Group achieved in 2011 gross operating revenues of NOK 2765.6 mill. (2010; NOK 2233.7 mill.) and an operating profit of NOK 238.8 mill. (2010; NOK 224.8 mill.). The operating margin for 2011 was 8.6% versus 10.1% i 2010.

The Group's equity was NOK 512.3 mill. at the end of 2011 (2010; NOK 500.9 mill.), which provides an equity share in 2011 of 34.5%. The difference between operating profit and cash flow from operating activities is primarily due to increased capital and depreciation of goodwill as a result of growth. Cash flow from operations is considered satisfactory in light of the company's growth. The cash balance at year

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end was NOK 147.9 mill. (2010; NOK 213.2 mill.). In 2011, the group had a cash flow of NOK -65.3 mill. (2010; NOK 94.2 mill.). The company's net cash flow is dominated by investments related to acquisitions.

PROFIT, BALANCE SHEET AND CASH FLOW FOR NORCONSULT HOLDING AS In the parent company Norconsult Holding AS there are no operating activities. The operating profit was NOK -0.4 mill. (2010; NOK - 0.3 mill.). The profit before tax was NOK 162.2 mill. (2010: 155.4 mill.).

The company's equity was NOK 275.1 mill. at the end of 2011 (2010; NOK 288.1 mill.), which provides an equity share in 2011 of 54.1%. Cash balance at year end was NOK 22.2 mill. (2010; NOK 137.5 mill.). In 2011, Norconsult Holding AS had a cash flow of NOK -115.3 mill. (2010; NOK 70.0 mill.).

FINANCIAL RISK The risk that clients cannot meet their financial commitments to the company is considered to be low, since historically there has been very little loss on debts. The company has an ongoing strong focus on the monitoring of accounts receivables. Norconsult’s liquidity is considered to be satisfactory, and no decision has been made to imple-ment actions that would change the liquidity risk.

Norconsult is exposed to currency changes with respectto operations outside the Nordic countries. Some of thisturnover is invoiced in NOK, some in local currency andsome in EUR; however the majority of it is invoiced in USD. The present currency strategy states that the company shall carry out currency hedging when appropriate based on an overall assessment.

Nothing has occurred since the end of the financial year thatmight have any significant bearing on the company’s position and earnings. In accordance with Norwegian accounting practice, Norconsult confirms that the accounts are presented on the basis of further ongoing operations

Proposed distribution of profitThe profit of Norconsult Holding AS: NOK 116 749 450The Board proposes that the profit be allocated as follows:Dividend: NOK 116 799 479Distributed other equity: NOK (50 029)Total NOK 116 749 450Distributable reserves of the company are: NOK 4 277 978

Sandvika, 8 May 2012The Board of Norconsult Holding AS

John NyheimCEO

Per Kristian Jacobsen Jan Oksum Grete SønstebyChairman Deputy Chairman Member of the Board

Harald Trosvik Henning Vellene Jens KvarekvålMember of the Board Member of the Board Member of the Board

Stein Sverre Hovden Per Kristian Nesse Kristin Pettersen GrenanMember of the Board Member of the Board Member of the Board

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“The Norconsult Award for best educational achievement” at the Norwegian University of Science and Technology (NTNU), in the Construction and Environmental Engineering Programme, was handed over on 1 November.

The Hattebergsdalen water treatment- and power plant was awarded “Plant of the year” in the western region of Norway.Norconsult was responsible for all the consultancy services.

Energetic start for the new energy business area in Sweden. On 25 August, a kickoff was arranged with approx. 90 new consultants on board. Norconsult now has Scandinavia’s largest consultancy in hydropower.

Norconsult is in the front in Norway with the use of innovation prossesses in projects. Among others, the Norwegian Public Roads Administration has saved several million NOK through active use of our creative methods in some of their projects.

On 18 October, our office in Bodø, Norway was certified as an Eco-Lighthouse by the head of environment in the municipalitiy of Bodø.

As part of our environmental initiatives, Norconsults’ consultants have carriedout a comprehensive energy efficiency project at the head office in Sandvika. The project is supported by Enova and has the status of a model project.

More than 60 users participated on the BIM-seminar and launching of the ISY G-prog Description BIM in Sandvika, Norway on 15 June. This is a milestone in the development of our leading system for building descriptions.

Norconsult was ranked as the most attractive employer among the consulting companies in Norway in the Universum Professional Survey 2011. The company was ranked as number 5, up 7 places from last year.

Renewable energy to Africa. Norconsult participated in the Norwegian business delegation that visited Ghana, Angola and Mozambique, on 20-25 November.

On 26 April a three-year company agreement was signed with the Red Cross.

The honorary award for buildings 2011 in the municipal-ity of Hamar, Norway, was awarded on 24 september with Norconsult as landscape architect.

Photo: S

tatsbygg

Photo: A

tle Kårstad

The City Rail Bergen in Norway was awarded ”Worldwide project of the year” under The Light Rail Awards 2011 in London. On the stretch between the city centre and Nesttun, Norconsult has had the overall responsibility for the detailed design and construction.

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Annual accounts 2011De går �nt å speilvende også: Opasitet på 70 eller 100%

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2010 2011 2011 2010 OPERATING REVENUES AND EXPENSES 1 680 539 2 023 792 Operating revenues 2 765 552 2 233 736 1 680 539 2 023 792 Total operating revenues 2 765 552 2 233 736

256 423 332 508 Project expenses 413 928 282 438 1 032 150 1 231 615 Payroll expenses 1 674 888 1 369 681 27 680 36 885 Depreciation and amortization expenses 59 914 52 973 175 825 233 851 Other operating expenses 378 043 303 863 1 492 079 1 834 858 Total operating expenses 2 526 773 2 008 955 188 460 188 933 OPERATING PROFIT 238 779 224 781 FINANCIAL INCOME AND EXPENSES 32 885 24 547 Income from subsidiaries and associated companies 0 0 1 582 4 963 Interest income from other group companies 0 0 1 444 895 Other interest income 5 675 4 834 503 4 593 Other financial income 5 162 590 ( 694) ( 5 057) Interest expenses other group companies 0 0 ( 317) ( 137) Other interest expenses ( 4 232) ( 3 470) ( 20 578) ( 8 146) Other financial expenses ( 9 697) ( 6 726) 14 826 21 657 Net financial items ( 3 092) ( 4 772) 203 286 210 591 PROFIT BEFORE TAX 235 687 220 009

( 61 647) ( 60 811) Tax expense ( 84 797) ( 78 753)

141 639 149 779 NET PROFIT FOR YEAR 150 890 141 256 0 0 Net profit after minority interests 149 331 141 256

ATTRIBUTABLE TO: ( 111 600) ( 108 000) Group contribution 0 0 ( 30 039) ( 41 779) Other equity 0 0 ( 141 639) ( 149 779) TOTAL 0 0

Income statement

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(All figures in NOK 1,000s)Norconsult AS Norconsult Holding AS Group

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2010 2011 2011 2010 OPERATING REVENUES AND EXPENSES 1 680 539 2 023 792 Operating revenues 2 765 552 2 233 736 1 680 539 2 023 792 Total operating revenues 2 765 552 2 233 736

256 423 332 508 Project expenses 413 928 282 438 1 032 150 1 231 615 Payroll expenses 1 674 888 1 369 681 27 680 36 885 Depreciation and amortization expenses 59 914 52 973 175 825 233 851 Other operating expenses 378 043 303 863 1 492 079 1 834 858 Total operating expenses 2 526 773 2 008 955 188 460 188 933 OPERATING PROFIT 238 779 224 781 FINANCIAL INCOME AND EXPENSES 32 885 24 547 Income from subsidiaries and associated companies 0 0 1 582 4 963 Interest income from other group companies 0 0 1 444 895 Other interest income 5 675 4 834 503 4 593 Other financial income 5 162 590 ( 694) ( 5 057) Interest expenses other group companies 0 0 ( 317) ( 137) Other interest expenses ( 4 232) ( 3 470) ( 20 578) ( 8 146) Other financial expenses ( 9 697) ( 6 726) 14 826 21 657 Net financial items ( 3 092) ( 4 772) 203 286 210 591 PROFIT BEFORE TAX 235 687 220 009

( 61 647) ( 60 811) Tax expense ( 84 797) ( 78 753)

141 639 149 779 NET PROFIT FOR YEAR 150 890 141 256 0 0 Net profit after minority interests 149 331 141 256

ATTRIBUTABLE TO: ( 111 600) ( 108 000) Group contribution 0 0 ( 30 039) ( 41 779) Other equity 0 0 ( 141 639) ( 149 779) TOTAL 0 0

2010 2011 2011 2010 ASSETS Intangible assets: 692 0 Deferred tax asset 0 0 0 0 Licenses and software 2 656 2 394 70 681 221 593 Goodwill 215 368 86 032 71 373 221 593 Total intangible assets 218 024 88 426 Tangible assets: 4 689 4 689 Land, buildings and other real property 203 742 206 682 11 409 16 327 Operating equipm., fixtures, fittings, office machinery etc. 33 865 26 780 16 098 21 016 Total tangible assets 237 607 233 462

Financial assets: 149 981 157 815 Investments in subsidiaries 0 0 73 473 53 926 Loans to group companies 0 0 529 475 Investments in shares 674 728 9 800 10 908 Other long-term receivables 12 239 11 159 74 948 100 292 Pension assets 97 110 71 766 308 731 323 416 Total financial assets 110 023 83 653 396 202 566 025 Total non-current assets 565 654 405 541 150 586 152 102 Work in progress 184 110 178 075 Receivables: 260 832 351 832 Accounts receivables 553 943 424 260 82 635 80 558 Short-term receivables from group companies 0 0 171 354 0 Deposits in group account 0 0 5 907 8 133 Other receivables 34 545 21 162 520 728 440 522 Total receivables 588 488 445 422

Cash and cash equivalents: 13 345 7 725 Cash and cash equivalents 147 880 213 152 684 659 600 349 Total current assets 920 478 836 649 1 080 860 1 166 373 TOTAL ASSETS 1 486 132 1 242 190

Balance as of 31 December 2011

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Norconsult AS Norconsult Holding AS Group (All figures in NOK 1,000s)Norconsult AS Norconsult Holding AS Group

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2010 2011 2011 2010 EqUITY AND LIABILITIES Owner's equity: 2 878 2 878 Share capital 5 733 4 776 0 0 Own shares ( 220) ( 278) 50 361 50 361 Share premium reserve 255 727 176 743 0 0 Other restricted equity 0 11 579 0 0 Paid-in capital not registered 1 303 76 435 53 239 53 239 Total owner's equity 262 543 269 255 Retained earnings: 228 305 270 085 Other equity 249 759 231 687 228 305 270 085 Total retained earnings 249 759 231 687 281 545 323 324 Total equity 512 302 500 942

0 0 Minority interests 3 886 0 Provisions: 0 8 907 Deferred tax liability 26 229 16 366 0 0 Other provisions 5 618 5 618 0 8 907 Total provisions 31 847 21 984 Non-current liabilities: 93 343 186 439 Liability to other group companies 0 0 540 490 Other long-term liabilities 15 335 5 687 93 884 186 929 Total non-current liabilities 15 335 5 687 Current liabilities: 46 375 86 051 Trade creditors 118 218 64 822 36 784 38 705 Advance payments from clients 54 515 49 444 278 820 90 557 Short-term liabilities to other group companies 0 0 0 19 732 Overdraft group accounts 0 0 18 165 9 213 Income tax payable 81 550 68 714 150 035 201 949 Public duties payable 232 486 178 265 0 0 Dividends 116 799 104 283 175 253 201 007 Other current liabilities 319 194 248 049 705 432 647 214 Total current liabilities 922 762 713 577

799 315 843 049 Total liabilities 969 944 741 248 1 080 860 1 166 373 TOTAL EQUITY AND LIABILITIES 1 486 132 1 242 190

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(All figures in NOK 1,000s)Norconsult AS Norconsult Holding AS Group

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2010 2011 2011 2010 EqUITY AND LIABILITIES Owner's equity: 2 878 2 878 Share capital 5 733 4 776 0 0 Own shares ( 220) ( 278) 50 361 50 361 Share premium reserve 255 727 176 743 0 0 Other restricted equity 0 11 579 0 0 Paid-in capital not registered 1 303 76 435 53 239 53 239 Total owner's equity 262 543 269 255 Retained earnings: 228 305 270 085 Other equity 249 759 231 687 228 305 270 085 Total retained earnings 249 759 231 687 281 545 323 324 Total equity 512 302 500 942

0 0 Minority interests 3 886 0 Provisions: 0 8 907 Deferred tax liability 26 229 16 366 0 0 Other provisions 5 618 5 618 0 8 907 Total provisions 31 847 21 984 Non-current liabilities: 93 343 186 439 Liability to other group companies 0 0 540 490 Other long-term liabilities 15 335 5 687 93 884 186 929 Total non-current liabilities 15 335 5 687 Current liabilities: 46 375 86 051 Trade creditors 118 218 64 822 36 784 38 705 Advance payments from clients 54 515 49 444 278 820 90 557 Short-term liabilities to other group companies 0 0 0 19 732 Overdraft group accounts 0 0 18 165 9 213 Income tax payable 81 550 68 714 150 035 201 949 Public duties payable 232 486 178 265 0 0 Dividends 116 799 104 283 175 253 201 007 Other current liabilities 319 194 248 049 705 432 647 214 Total current liabilities 922 762 713 577

799 315 843 049 Total liabilities 969 944 741 248 1 080 860 1 166 373 TOTAL EQUITY AND LIABILITIES 1 486 132 1 242 190

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De går �nt å speilvende også: Opasitet på 70 eller 100% A glance at 2011

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Norconsult AS Norconsult Holding AS Group

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The Norconsult Group consists of several entities, each of which has a leading position in its market. The core business of the Norconsult Group is its consultancy services organized in the Norconsult company. The respective other companies help to substantiate the mission statement that Norconsult will contribute to a sustainable society through innovative and targeted consulting services – from idea generation and overall planning to the engineering and operational support.

The Norconsult Group is Norway’s and one of Scandinavia’slargest interdisciplinary engineering and design consultancies. We have a long, sound history as a leading player both nationally and internationally.

Norconsult - a group with broad scope

Number of employees’07 ’08 ’09 ’10 ’11

2200

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Norconsult - a group with broad scope

100%

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95%

40%

24,5%

Norconsult Holding AS

Norconsult AS Norconsult Eiendom AS

Norconsult International AS

NorCivEngineering Co Ltd.

Thailand

NorconsultInformasjonssystemer AS

Techno Consult AS

Norconsult Utvikling AS

TechnogardenEng. Resources AS

TechnogardenHuman Resources AS

Lysenor AS

NorconsultAfrica (Pty) Ltd.

NorconsultBotswana (Pty) Ltd.

NorconsultMozambique Lda.

SCDSMozambique

NorconsultLaos Co. Ltd.

NorconsultManagement

Services (Phils), Inc.Philippines

Norconsult AB

NorconsultFältgeoteknik AB

NorconsultDanmark A/S

TechnogardenEng. Resources AB

NorconsultAndina SA

NorconsultPeru SAC

100%NorconsultÖrebro AB

60%

NorconsultIyanda (Pty) Ltd.

The largest companies in the Norconsult Group are:

NORCONSULT – this is the largest Norwegian and oneof the leading Scandinavian interdisciplinary consultantsfocused on community planning and design. The companyalso has significant international operations in specific priority areas.

NORCONSULT INFORMASJONSSYSTEMER (NoIS) – is one of the largest Norwegian software companies anddevelops and delivers integrated IT solutions for design,construction and management of infrastructure andproperty. The company's major competitive advantage iscombining knowledge of the discipline, the system and industry in user-friendly and integrated IT-solutions.

TECHNOGARDEN – engineering consultancy andrecruiting companies, with offices in Norway and Sweden. This helps increase clients' competitiveness by offering flexible and efficient access to resources via the hiring of engineering consultants. In addition, the company specializes in recruitment for permanent positions in various engineering disciplines, as well as project management positions.

NORCONSULT AB – One of Sweden's fastest growing consultancy companies with its head office in Gothenburg. The company offers interdisciplinary services to munici-palities and the private and public sectors in the following business areas; architecture and buildings, community planning, energy, infrastructure, water and sanitation, industry, risk and safety and oil and gas.

Norconsult is very sensitive to the impact our consulting has on people’s everyday lives, their work and on the communities they live in.Therefore, we use our interdisciplinary skills actively to ensure that all social considerations are taken care of in our processes.

In addition to influencing the community through consult-ing, Norconsult is also very conscious about the company’s role in its business operations. Norconsult is a key player in local and national communities where we are present. Our business and our work have consequences and affect both the environment and the community. Norconsult focuses its attention on minimizing environmental impacts associated with the company’s operations.

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Thousands of projects of all sizesAnnually Norconsult is engaged in a large number of projects in the private and public sectors all over the world.

In 2011, Norconsult carried out about 12 000 projects in 50 countries.The projects range from large and long-term contracts dominated by interdisciplinary team efforts, to small, short-term studies and pre-projects, where expertise and consulting experience dominate. Norconsult’s broad resource base ensures that the necessary capacity is avail-able to execute its contracts irrespective of content and size.

At the end of 2011, Norconsult had 2170 employees(including subsidiaries), 1620 located in Norway and 550 inother countries.

Presence in more and more locations Norconsult has a wide geographical presence. We focuson local presence combined with the development of localskills. The concept is that local experts can profit fromthe huge pool of expertise and experience across theorganization. With several acquisitions of local companiesin Norway, the company is represented virtually "every-where" in its home country with its 43 local offices.

Outside of Norway, the company has significant localoperations with 28 permanent establishments, as well as several project offices.

In addition to expanding its presence in several locationsduring 2011, the company continued to expand its presence in digital communication channels during the year.

Responsible for a sustainable development People are the foundation of our business, and it is the sum of all the work we do and the knowledge, attitudes and values we stand for, which essentially is the company. Norconsult's corporate culture is founded on sound business practice, honesty and respect for other people, and we understand the consequences of our operations in the community and take this into account when making decisions.

With this background, during 2011 the company prioritizedincreasing its efforts to develop awareness of the company's social responsibility and what it means for the individual employee and for the solutions we are planning and designing.

Social responsibility is an essential part of our ethical guidlines, and the work with the development of our internal guidelines for social responsibility and teaching them to our employees is important to us. In addition to focusing on social responsibility in our own operations and consulting practice, Norconsult participates in several initiatives to drive industry's role and future standards for the good of the society and the environment.

2007 2008 2009 2010 2011 20.2 22.6 23.0 23.9 23.9

Female employees % 2007 2008 2009 2010 2011 43.2 42.6 42.7 42.5 42.9

Average age year

2007 2008 2009 2010 2011 3.7 2.9 4.4 3.1 3.2

Sick-leave incl. children’s illness %

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Year 2011:

• Norconsult had 43 offices in Norway and 28 offices in other countries.• Norconsult acquired the following companies in Norway: Ask Rådgivning AS, Palm & Bratlie AS, Stavsengs

Ingeniørfirma AS, ElektroTeam AS, ElektroPlan Møre AS, ELPLAN AS, Energi og Miljø Consult AS (Emcon, Jørstad RI AS, Myklebust AS and Geovest-Haugland AS.

• Norconsult AB in Sweden acquired the company Mark & Marin Ingenjörsbyrå AB which became a 100 % subsidi-ary named Norconsult Örebro AB.

• Norconsult Africa acquired 60 % of the company Iyanda Power Technologies which changed the name to Norconsult Iyanda (Pty) Ltd.

• International turnover was 22 % of total turnover• Norconsult had about 12 000 projects in 50 countries.• Number of employees increased by 24 % from 1750 i 2010 to 2170 in 2011. • Turnover increased by 24 % from NOK 2233.7 million in 2010 to NOK 2765.6 in 2011.• Operating profit was NOK 238.8 million in 2011 compared to NOK 224.8 million in 2010.

Among these are:

NORWEGIAN GREEN BUILDING COUNCIL (NGBC) – In 2010, about 60 of Norway’s leading players in the con-struction and the real estate industries took the initiative to establish NGBC. Norconsult is one of the founding partners. The organization has developed a Norwegian version of the environmental classfication system BREEAM in order for Norwegian buildings to meet exceptional environmental standards. This was launched in the autumn of 2011 and is now used in many projects in the building sector.

REGIONAL RESEARCH FUNDS – Norconsult is the project manager for a team with assigned means from the Regional Research Fund for the development of environ-mentally sound water and sewage infrastructure. Emission and flooding problems related to rain were studied in a feasibility study in cooperation with, among others, Rosim, SINTEF, NTNU and several municipalities. Based on social needs, five themes were defined that need R&D activities.

THE "RENERGI" PROGRAMME – In seeking to achieve its ambitious climate goals, the Research Council of Norway will distribute NOK 300 million to 49 research projects in

green energy through the “RENERGI” programme. Theresearch council decided in 2010 to provide support to theNorconsult project “50% reduction in energy consumptionin the hospitals of the future”. In 2011, the first project phase was completed which included the identification of the basic information. The project will be completed in 2014.

INTPOW – In 2009, Norconsult was co-founder of INTPOW (Norwegian Renewable Energy Partners), and has a representative on the board of the organization. INTPOW is a meeting place and network for Norwegian and international companies with activities related to renewable energy. Many global and local challenges must be solved to provide the world with clean energy and sustainable development. Norconsult takes its social responsibility seriously and continues to focus on building skills and knowledge concerning renewable energy.

COOPERATING PARTNER WITH THE RED CROSS – In 2011, a three-year company agreement was signed with the Red Cross. The goal is to develop a mutual arena for the exchange of expertise through our common values, and the opportunity of disciplinary contribution towards their important work both nationally and internationally.

Average age year

Sick-leave incl. children’s illness

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Cheves HPP, Peru SN Power awarded Norconsult the contract as consultant for the power plant located on the Huaura River, about 80 km north of Lima, Peru. Cheves will replace some of Peru’s thermal power generation.

3D laser scanning, the Royal Palace of Stockholm Norconsult has been commissioned to carry out 3D measurements with the use of laser scanning. This to open up for the extensive restoration work that is calculated to run for 20 years. This is Sweden’s most extensive facade work in modern times.

Central Region Transport Network Project, Vietnam Design, contract administration and construction supervision for rehabilitation of about 750 km of provincial and district roads in 19 provinces.

Photo: N

ovo Nordisk

Novo Nordisk, Hillerød Denmark Norconsult participated in the team developing and manufacturing parts of the new Novo Insulin Pen PDS 290.

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Norconsult’s international strategy is based on developing and building local expertise, while maintaining a strong focus on knowledge sharing within the organization. This ensures that the expertise developed in major offices is being shared with representatives in the smaller, local offices and vice versa.

International priority areas

Over the past 50 years, Norconsult has worked on projectsin more than 150 countries. During 2011, we conducted aseries of new measures and are well equipped to competeon the international market. The company had about 550 employees outside Norway.

EuropeDuring 2011 Norconsult had active assignments through-out Europe - including Albania, Belgium, Faroe Islands, Iceland, Italy, Russia and Turkey. In addition, we continued to build our operations in Scandinavia through acquisitions, organic growth and collaboration across borders.

SWEDEN – Our activity level within the construction, infrastructure and transport business has been satisfactory in 2011, and we have won many interesting contracts. The same applies to the architecture, water and environment, industry and IT areas. A new energy business area was established. As a result of a strategic focus and strong organic growth, we now have approx. 90 energy consult-ants from Luleå in the north to Malmö in the south.

Otherwise Norconsult AB acquired Mark & Marine Ingenjörsbyrå AB in Örebro, which became a wholly owned subsidiary named Norconsult Örebro AB.

Group turnover in Sweden increased by 16%. At the end of 2011 we had approx. 400 employees at our 17 offices.

DENMARK – Norconsult covers primarily two main areas in Denmark; Healthcare engineering, and water and sewage. At the end of 2011, we had approx. 20 employees at our offices in Copenhagen, Aarhus and Kalundborg. Our strategy is continued growth and future development of our position in the Danish market.

There is extensive cooperation between the offices in Denmark, Norway and Sweden.

Local presence in emerging economiesNorconsult has been engaged in infrastructure projectsin a number of emerging markets for decades. During2011, Norconsult developed and implemented the strategyof having a strong local presence in select markets evenfurther. The strategy is focused on building local expertisein South America, Southeast Asia and southern Africa.The company has several local offices in these regions.The areas are regarded as regions with great developmentpotential, among other things in renewable energy.Norconsult can make an important contribution in this field.

Our specific areas of expertise and locally establishedcompanies are major factors behind our success in international activities.

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We have local staff with expertise in all our priority areas, and have built local organizations in combination with expert knowledge and management resources from Norway. Temporary project offices in other locations are established when needed. New establishments in other regions with promising potential are evaluated continuously.

AMERICA – In South America, Norconsult has subsidi-aries in Chile and Peru. Cheves Hydropower Project in Peru was one of the largest on-going projects for Norconsult in 2011. The company also had projects in Canada and the USA.

ASIA – In Asia, Norconsult has subsidiaries in Laos, the Philippines and Thailand. During 2011, the company had projects in Afghanistan, China, East-Timor, Georgia, Hong Kong, India, Indonesia, Laos, Nepal, the Philippines, Thailand and Vietnam - among others.

AFRICA – In Africa, Norconsult has subsidiaries in South Africa, Mozambique and Botswana. In 2011, our subsidiary in South Africa, Norconsult Africa (Pty) Ltd., acquired 60% of the company Iyanda Power Technologies with 30 employees.The company is providing engineering services for energy utility and industrial electrical engineering projects. The company changed its name to Norconsult Iyanda (Pty) Ltd. With this acquisition Norconsult now has a stronger position in the southern African region. The regional resource base is expected to grow further.

During 2011, the company had projects in South Africa, Mozambique, Botswana, Angola, Ethiopia, Ghana, Kenya, Liberia, Sudan, Uganda, Zambia and Zimbabwe.

Nordic countriesexcluding Norway

Turnover Norway - Worldwide

Outside theNordic countries

Norway

78 %

11 %11 %

Turnover Worldwide (excl. the Nordic countries)

Americas

Africa

Asia Europe excl. the Nordic countries

29 %

28 %

23 % 20 %

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Skills development, knowledge sharing and facilitating interaction across the board, are all crucial success factors in today’s knowledge society. Norconsult is an interdisciplinary knowledge-based company. This means that we must constantly focus on new arenas, tools and measures to stimulate the development of both the individual employee and our common knowledge.

In today's knowledge society, we are constantly looking formeans to enhance our own experience and adjust our-selves to external influences. In this work, it is essential to share our professional knowledge and our business expertise. With our extensive disciplinary scope over large geographic areas and with many different interaction points, Norconsult has particular focus on facilitating and ensuring optimal interaction - internally and externally. Achieving seamless integration across knowledge boundaries and roles is a prerequisite for success in today's knowledge society.

A systematic approach to competencedevelopmentProfessional and personal development of employeesis a key success factor in our industry. The companyhas further focused in 2011 on priority areas of skillsdevelopment, especially through training of middlemanagers in a leadership development programme,in-house courses in contract management and thecreation of yet more disciplinary networks with networkmeetings and disciplinary portals.

THE NORCONSULT SCHOOL – During 2011, Norconsultfurther worked on establishing The Norconsult School. The school will contribute to a strengthened coordination and further expansion and professionalisation of Norconsult comprehensive internal training and educational activities. Through the Norconsult school, we want to provide a holistic approach to training that will help to ensure high levels of competence for all our employees. We want to create a learning environment in which we increase the awareness of the company's ethical maxims, our environmental and social responsibility, and professional technical consulting and assignment execution. Several of the courses are mandatory to fill the demands of some of the company's roles.

One purpose is to create networks within the organization as well as to promote interdisciplinary cooperation. To increase the administrative efficiency of the school, a database-/portal solution is under development and will be launched during 2012.

Professional skills developmentand knowledge sharing

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DISCIPLINARY NETWORKS – At the end of 2011, Norconsult had 19 active disciplinary networks. These competence-networks are operational across the organi-zational structure. Each discipline has its own Network Coordinator who reports to a responsible disciplinary vice president. The Network Coordinator is responsible for actively working to facilitate the continuous updating and improvement of expertise in the disciplinary field. This includes an overview of new laws and regulations that affect the particular discipline and thus affect our clients. In addition, each Network Coordinator secures the disciplinary quality in all our assignments regardless of localization. Internal disciplinary portals are established and there are frequent disciplinary gatherings for profess-ional development, networking and collaboration across geographical and organizational units.

Creating a culture of sharing Knowledge sharing depends essentially on the individual'sdesire, ability and opportunity to share. Therefore, it is critical to build a culture and an environment that encourages sharing. The company constantly evaluates and further develops organizational structures, processes and technological solutions to promote knowledge sharing.

Some of the initiatives we focus on are:

PROJECT OF THE MONTH – During 2011, monthly presentations of special projects were arranged with the objective of creating interdisciplinary relations by showing "all disciplines to all disciplines".

INTERDISCIPLINARY LUNCHES – In 2011, The Norconsult Youth Council organized several interdisciplinary lunches at our headquarters. The objective of the lunches is to provide an opportunity for employees who do not normally interact with each other to meet in an informal setting. The lunches resulted in network expansion, exchange of disciplinary knowledge and improved insight into the many services we offer.

THE ENVIRONMENT CREATOR PRIZE – The Environ-ment Creator Prize has been awarded to selected Norconsult employees over many years. Candidates are selected for their extra effort to bring about positive motivation among colleagues. In 2011, the winner was an employee who for several years has hosted many impressive cultural events for the benefit of both colleagues and customers.

Host, contributor and participant in the develop-ment of our industry sectorNorconsult is deeply engaged and makes it a priority to bepresent at the different professional arenas in our industry.We host and participate in various forums where academic development is on the agenda.

CREATING MEETING PLACES – Creating meeting placesfor the exchange of experience between different stake-holders is an important learning and inspirational arena. Courses and seminars are held regularly by the company.

COOPERATION WITH EDUCATIONAL INSTITUTIONS –We are committed to ensuring that the current educationmatches the skills that will be needed in the future. Norconsult works closely with various higher educational institutions by contributing to relevant design of study programmes and disciplinary training for tomorrow's engineers and planners.

ACTIVITY IN DISCIPLINARY FORUMS – Working closelywith experts in the field, but with different points of view,is important to be updated and contribute to disciplinarydevelopments. Norconsult has many active participants and board members on several disciplinary forums.

Competency development 2007 2008 2009 2010 2011

• Total number of certified project managers 350 31* 225 390 525• Total investment in competency development (MNOK) 21.7 28.7 35.0 36.5 41.0• Investment in competency development per employee (NOK) 22 400 27 333 20 588 20 914 23 700

* New course introduced in 2008

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The construction industry is undergoing major changes. These structural andtechnological changes will have major social consequences. In this development, Norconsult has a definite role with the insight of an experienced contributor, driving force and source of influence. Our focus on research, innovation and the implementation of new technology are important areas where thoughts and ideas are captured. This is how we create the foundation to establish differentways to work that are more effective than at present.

Technology and innovation

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Seven innovation process managers completed their training programme in 2011

Turnover in R&D projects 2011: NOK 60 million

3D-visualization of the Lysaker Metro, Norway

BIM model of the Førde town hall, Norway

3D design of the Sunnerstaholms power plant, Sweden

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Climate issues and a completely different focus on respecting society and the environment, means that our industry now faces major, and often positive, changes. In addition, technological developments create entirely new conditions, markets and methods. Norconsult is keen to focus on novelty and innovation. We encourage the deployment and testing of original approaches and solutions. Naturally these are to be within the framework of risk assessment, accountability, budgets and project management.

Focusing on creativity and innovationNorconsult is committed to being at the forefront of thedevelopments in our industry. Through our R&D activities,we focus on innovation for industry as a whole in addition to applied research and development in our own assignments.

CREATIVITY AND "CO-CREATION" – Co-creation is anew concept for knowledge-intensive deliveries. Theconcept can be described as "customer participationin development". This is an expansion of the "OpenInnovation" concept. In co-creation, the customer andsupplier are equal resources in the development of adelivery. This makes the whole project work an advanced,dynamic learning arena.

INNOVATION PROCESS MANAGEMENT EDUCATION – In 2010, Norconsult started a training programme for our innovation process managers. The programme continued in 2011, as we believe that innovation is a sought-after commodity in the market. A total of 7 process managers underwent the training programme which focuses on training in creative work tools and processes to be able to guide customers and cooperating partners through creative project phases. The programme participants implemented process management in 64 assignments in 2011.

EMPLOYEES WITH PHD – Norconsult had, at the end of 2011, 31 employees with doctoral degrees, as well as 5employees who are PhD candidates. The PhD candidatesare researching developments in outdoor lighting, serviceinnovation, hydropower, water resource management anddrainage.

RESEARCH IN PROJECTS – Utilizing innovation actively in projects and leading and participating in research projects, is important to take advantage of practical knowledge.

Among other projects during 2011, Norconsult worked on research projects with the following focus:

• 50 % reduction in energy consumption in hospitals of the future New university hospitals have nearly double energy consumption compared to other buildings. The research project, supported by the Research Council of Norway and initiated by Norconsult in collaboration with SINTEF, aims to provide knowledge of how energy efficient solutions for various technical systems in com-bination with building conditions can reduce energy consumption by more than 50 %. The project is also funding a PhD candidate for the development and simulation of an energy efficient model hospital.

• Sustainable renewal of VA systems Norconsult has a research project (Industrial PhD) that studies sustain-able renewal of VA systems. A PhD candidate’s thesis will specifically investigate the problems and possible improvements related to economic calculation methods for VA infrastructure with very long technical life, and what practical long-term impact the current models provide in renewal planning.

• Innovation management Norconsult has a research project (Industrial PhD) that studies the management of creative processes and the establishment of new working practice in innovation management. A doctoral thesis will specifically focus on the strategic role of the customers of the knowledge-intensive companies in value creation through innovation processes. The programme is based on data from Norconsult assign-ments and from other international industrial companies.

• Development of new technology in oil-spill prepared-

ness Norconsult has assisted the Norwegian Clean Seas Association for Operating Companies (NOFO) with the establishment and implementation of innova-tive technology development projects. More than 20 projects of about NOK 80 million were implemented in cooperation with Norwegian companies and industry in 6 countries. In addition to assistance with the program-me management, Norconsult had the project mangement of 7 of the projects, particularly in monitoring/remote measurements.

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De går �nt å speilvende også: Opasitet på 70 eller 100%

• Further development of ”backwashing” of thrashracks In an assignment from Tussa Energi, Norconsult has completed the design of the intake at Viddal, a small- scale hydopower plant in Møre and Romsdal, Norway. Norconsult has further developed the ”backwashing” of thrashracks in cooperation with the Norwegian University of Science and Technology (NTNU), Study of Water and Environmental Engineering and Tussa Energi. The main reason for the allocation of the R&D funds from NVE, was that the project was well suited for further developing competence at NTNU. A number of lectures are scheduled on the subject during 2012.

• CO2 as an indicator of mold and rot damage in buildings Norconsult is heading a research project supported by the Research Council of Norway. The project has so far provided some interesting results, which have generated attention both in Norway and abroad. The project was presented at an international conference on indoor air quality, ”Indoor Air 2011” in Austin, Texas, USA.

Always on the lookout for new systems, methodsand solutionsNorconsult is constantly on the lookout for new methods and systems to improve the efficiency and implementation of its projects. The focus on the development and imple-mentation of new services and solutions applies to the entire organization, and in many cases our subsidiary, Norconsult Information Systems, is also involved.

BIM – Systematic training and elevation of the company’soverall expertise on BIM, is an important element inNorconsult’s strategy. The steering committee for BIM has been in business since 2009 and efforts have been fruitful and in line with expectations. The majority of new projects now use BIM during design, thus an important

goal is achieved. For the upcoming period, new specific goals have been set up. One important goal is to use BIM to coordinate the different engineering disciplines in a project in such a way that errors are eliminated and the necessary interdisciplinary clarifications can be made at an early stage.

ANALYSIS AND CALCULATIONS BASED ON BIM – Further specific goals are set for the use of BIM for other suitable purposes, defining "best practice" and applying this competence to a system. Some of these are quantative basis for calculation, specifications for bidding, "carbon footprint" analysis and other technical calculations. NoIS is recognized for its pioneering work and deliver market-leading BIM integrated tools in this field. In 2011, several years of R & D resulted in a unique way to achieve the highest possible quality of BIM quantities. The method has achieved international attention.

3D VISUALIZATION – Application of 3D visualization in theplanning stages and as a tool for analysis, simulation anddesign, opens up new insights. Through 3D visualization,it is easier to understand the end result, even for thosewho have no background in engineering and planning.Norconsult offers a wide range of 3D visualizations, and isactively working to further develop the use of this technologyin the industry.

MOBILE REFERENCE BOOK - Norconsult Informasjons-systemer (NoIS) has been approved as application supplier in various app markets such as iPhone. "The Norwegian Price Book" was released in the Apple's App Store mid-2011, and has quickly gained a position that makes it the leading reference book for the construction industry with prices and "carbon footprint"-values for all common constructions.

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De går �nt å speilvende også: Opasitet på 70 eller 100%

Business areas & projects in 2011

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European steel design award to Norconsult for the Holmenkollen ski jump Norconsult has been the consultant and participated in the project from the demolition of the old ski jump to comple-tion up to the FIS World Cup in 2011. Our services included construction design, foundation design, wind analysis and protection, safety and various technical facilities.

The Architectural prize of Kungsbacka 2011 Norconsult’s architects in Sweden was awarded the prize for their work on Varla school.

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Norconsult has grown considerably in recent years, offering services in all phases of a project lifecycle from the earliest pre-investment and feasibility studies, through planning and design, tendering and construction supervision, to project implementation, operations and maintenance. Norconsult's knowledge base consists mainly of civil engineers, engineers, architects, landscape architects, social scientists and economists. The company works actively to facilitate cooperation across disciplines internally as well as externally.

Norconsult has a broad customer base split between private companies and public administration. Norconsult emphasizes the importance of working as an extended arm of its clients’ teams, focusing on the mutual sharing of knowledge with its clients and partners.

During 2011, Norconsult participated in approximately 12 000 projects of various sizes. All projects, the large, long-term and the smaller, short-term ones, profit from consultants with expertise developed in a broad disciplinary environment. This allows the company'sconsultants to work with a holistic focus. This againstrengthens the professional advice given, as it will alwaysbe evaluated and considered within a larger context.

The company’s services are organized in the followingnine business areas:

• Buildings• Energy• Environment• Industry• Oil and gas• Planning• Risk management• Transport• Water

Our international activities outside the Nordic countriesare focused around the following business areas:Energy, Oil and Gas, Transportation and Water.

Norconsult - a complete interdisciplinary consultant

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The Statoil building, Fornebu, Norway

Færder Vidergående skole

Visualization Vågsvåg windpark, Båtsfjord, Norway

Snøhvit LNG-plant Hammerfest, Norway

Mongstad (TCM), Norway

Skagerrak 4

220 kV transmission lines, Albania

Finnfjord smelting plant, Norway

Photo: S

tatoilill. A

-Lab

Devoll HPP, Albania

Saksenvik power station, Norway

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Mongstad (TCM), Norway

We offer a total range of services in: Cultural buildings • Educational buildings • Hospitals and institutional buildings • Hotels • Office buildings • Residential buildings • Shopping centres • Sports facilities

The future of sustainable buildings requires development of integrated construction concepts. They will be both resource-efficient and of high quality. Clever solutions that satisfy the external and internal environments are essential. For many years, Norconsult has been involved in designing and developing the future of buildings, where interaction between building design and the influence of the internal and external climate are key factors.

There is increased focus on the themes of environment and energy. The Building Research Establishment Environmental Assessment Method (BREEAM) is a methodology to achieve environmentally sound buildings and has become very impor-tant in the development of new projects. Norconsult has taken the lead in promoting this method, and has a broad base of higly competent staff of BREEAM experts. We therefore carry out a number of projects where BREEAM is a key concept in the environmental design of the building.

SOME REFERENCE PROJECTS 2011: Facebook's establishment of new server buildings, Sweden Facebook is to establish its first European data centre at Luleå in northern Sweden. When it is fully developed, the centre will have an area of 84 000 m². Norconsult is responsible for the project management of the electrical installations as well as for coordination of the commissioning of the entire centre. We also have responsibility for the environmental and quality.

The Visma Building in Bjørvika, Norway Norconsult has performed the outline conceptual design, preliminary design with subsequent preparation of the requirements specification, detail design and follow-up for the 17-storey office building of 25 000 m². We were responsible for geo-technical engineering, civil engineering, HVAC, electrical engineering and transport.

Cultural quarter, Bodø, Norway Consisting of a cultural Building and a library with a total of approx. 18 000 m2. Norconsult was responsible for the following disciplines: civil engineering, electrical and HVAC engineering, fire engineering, geosciences and water and sewage.

Statoil, Fornebu, Norway New office building with a spectacular design. In the preliminary project, Norconsult has been responsible for geotechnical engineering, engineering geology, civil engineering, HVAC, water and sewerage, environmental, energy and acoustical consulting. Extensive work in connection with BREEAM has been performed.

Færder High School, Tønsberg, Norway Building mass of approx.15,000 m2. Joint project between the county authorities, contractors and designers. Norconsult has the consulting and engineering of plumbing, electrical, HVAC, fire, acoustics and building physics, as well as engineeringmanagement and BIM design.

Algeta, Kjeller, Norway New production plant for the manufacture of Alpharadin at IFE, Kjeller. For Scitech, Norconsult has completed the Basic design document including cost estimates, detail design and contact with the regulatory authorities, technical construction site follow-up and commissioning - in addition to special assignments directly for Algeta and IFE in connection with the project.

New sweeper hall, Oslo Airport, Norway Norconsult has carried out the preliminary project and detail design in all disciplines (structural, HVAC, electrical, water and sewer-age, fire, acoustics, environmental and HSE) for the new sweeper hall, which includes a new garage and automatic washing facility for snow removal equipment, as well as modernization and expansion of the staff facilities and workshop, with a total area of about 8500 m2.

Buildings

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We offer a total range of services in:Renewable energy; hydropower, wind and solar power • Energy planning • Transmission and distribution • Thermal energy • District heating and -cooling The demand for energy will continue to grow. Making energy production more efficient and reducing energy consumption and energy-related emissions of green-houses gases are goals that industry, the authorities and the global community generally agree on. In 2011, Norconsult continued its emphasis on renewable energy with focus on selected markets in South America and southern Africa. Following the employment of approx. 90 energy consultants at Norconsult AB in Sweden, Norconsult consolidated its position as one of Europe's leading energy consultants.

The Norwegian power industry was in 2011 characterized by extensive activity, both in the engineering and construction of small scale hydropower plants, maintenance of existing facilities, and some major upgrading projects. Norconsult is positioned to become a leading player in small scale hydropower, wind power and district heating in the years to come. In hydropower, the company is already the largest engineering consultancy and is working with all the major players. Finishing a number of applications for concessions, along with the green certificates is expected to result in a busy year for windpower in 2012 and onwards.

SOME REFERENCE PROJECTS 2011:Cheves HPP, Peru The hydropower development that SN Power is carrying out on the Rio Huaura River includes a river power plant of 170 MW with an effective head of 600 m, power station in rock and a total of approximately 18 km of tunnels. Norconsult is responsible for detail design, construction management and coordination of contractor and supplier contracts.

Devoll HPP, Albania The large hydropower development of the Devoll River includes the Moglicë, Kokel and Banja power stations, with a total capacity of 280 MW. The project also include study of the grid connection and detail design for 110 kV and 220 kV transmission lines. Norconsult has carried out environmental and social analyses and has been responsible for the detail design up to and including preparation of tender documents for all contractor and supplier contracts for Devoll Hydropower Sh.A

Transmission Development Project, Mozambique Joint venture with VPC on a feasibility study – including preliminary design – of a 1300 km 400 kV HVAC transmission line and a parallel 2650 MW 500 kV HVDC bi-pole line to transfer power from large-scale hydropower and thermal generation projects in the central-north of Mozambique to the south for domestic consumption and export to South Africa.

Sunnerstaholms power station, Sweden The power plant, which started operating in 1942, is in great need of renewal. The production capacity currently amounts to about 35 GWh. With the proposed redevelopment, in which a new unit of 9 MW will become operational, the annual production will increase to 44 GWh. The head is approximately 17.5 m. The project include design of the redevelopment in the areas of construction, rock mechanics/geotechnical engineering, mechanics, ventilation and piping as well as electrical installations. The power plant design is visualized in 3D. The client is Fortum Generation AB.

Skagerrak 4 Statnett and Energinet.dk are building the Skagerrak 4 interconnector. This is the fourth high-voltage direct current (HVDC) cable between Norway and Denmark. Norconsult has been involved in the project during the planning and analysis phases in connection with both technical and environmental issues. The interconnector consists of 90 km of cable ashore in Denmark, 12 km i Norway and 137 km of submarine cable.

Vågsvåg wind farm, Norway Norconsult's deliverables have included system assessments, the solution for the grid connection, planning of roads and transport solutions, impact assessments with visualizations and preparation of the licence application. The client is Kvalheim Kraft DA.

Energy

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We offer a total range of services in: Acoustics/noise • Acute pollution • Waste and waste disposal • Pollution of water, soil and sediments • Environmental monitoring and environmental consultancy in projects • Hydrogeology • Climate adaptation and climate change • Air pollution • Environmental assessment and redevelopment of buildings

Climate consequences as a result of the world’s population growth give us a common challenge to balance the protec-tion of nature and the environment while further developing society. The increasing impact we make on the earth’s resources is a global challenge - and it must be solved.

During 2011, our environmental experts worked on projects of all sizes in Norway and abroad. The year was characterized by many large interdisciplinary projects with exacting requirements for environmental monitoring, among others for airports and various kinds of recipient monitoring.

SOME REFERENCE PROJECTS 2011: The Midgard Serpent, Oslo, Norway Norconsult is designing the Midgard Serpent for the municipality of Oslo's Water and Sewerage Works, one of Norway's largest water and waste water projects. The facility will provide improved water quality in the lower part of the Akerselva River, the inner harbour basin and the Oslo Fjord. Norconsult's work has included the development of several programmes for environmental monitoring, action plans for contaminated land, and environmental risk assessments. Norconsult has also described initiatives to protect life in the river in general as well as salmon and sea trout in particular. The project lasts from 2006 to 2014.

Management Plan, the North Sea and Skagerrak The Climate and Pollution Agency is working on a management plan for the North Sea and Skagerrak, focused on acute pollution. Norconsult has been responsible for assessing the environmental risks of accidental discharges from four major-hazard installations (land-based facilities) in the North Sea and Skagerrak, which might reach particularly vulnerable and valuable areas. Phase 1 included the identification and preparation of accident scenarios and the collection of information. Phase 2 involved assessments of environmental risk.

Environmental survey WNPOC, Sudan On behalf of the General Directorate for Environment and Safety at Sudanese Petroleum Corp., Norconsult has conducted a study to determine the impact on society, people and the environment resulting from oil production in Block 5A, Unity state in South Sudan by White Nile (5B) Petroleum Operating Company Ltd. (WNPOC).

Management Plan, Trillemarka Rollagsfjell Norconsult is responsible for project management in the preparation of a management plan for the Trillemarka Rollagsfjell nature reserve. The work has consisted in the preparation of the plan as well as management of the process related to the planning activities. Management of biological conditions and the regulation of user interests in relation to the conservation regulations are key elements of the plan.

Environmental Project, Avinor's airports Avinor is implementing a national environmental project for all its airports to ensure that operation of the airports complies with the discharge permits in effect. Norconsult has the project management of three of the sub-projects: contaminated soil, monitoring of receiving waters, and other stakeholders. The pilot project lasts from 2010 to 2012.

Environmental contaminants in marine organisms Norconsult has conducted a survey of environmental contaminants in marine organisms in 14 harbours and fjords along the Norwegian coast. The survey replicates previous surveys for the Climate and Pollution Agency to explore the trend in pollutants in these areas. The results were evaluated against the limits on pollution load and for distribution of seafood.

Environment

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We offer a total range of services in: Aluminium plants • Cement production • Food processing industry • Mechanical workshops • Melting plants • Mining industry • Petrochemical industry • Pharmaceutical industry • Shipyards • Solar industry • Waste treatment plants • Wood processing industry

For a long time, Norconsult has been involved in helping to realize large industrial investments and development projects, both in Norway and abroad. Our experience and special skills in the different industries, together with comprehensive expertise, makes us able to customize teams for most applications. The development and adaptation needs of our clients require that we provide expertise in all phases of an industrial project. This results in exciting and challenging tasks which we are solving together with our industrial partners.

In addition to a high level of activity in the oil-related industries, we also see a positive trend with major investments in the mining, ore and smelting industry in Norway. Norconsult is participating in several exciting projects in this sector. As industry has focus on costs, energy consumption and environmental impact, innovation, with product- and process development, is therefore significant. Industry has always been important for employment in numerous communities, and renewal and development is therefore of great importance.

SOME REFERENCE PROJECTS 2011:New export terminal, Norway Northland Resources is developing a large mining area in the border region between Finland and Sweden. Shipping of iron ore from a new export terminal in Narvik will start during the first quarter of 2013. Norconsult is managing the project, and is responsible for the design of the transloading station, intermediate storage and

export quay for bulk ships of up to 180 000 dwt. The facility is expected to be completed in mid-2013. It is prepared for subsequent use in connection with the increased container traffic in the northern regions.

Finnfjord smelting plant, Norway One of Europe's largest and most environmentally friendly producers of ferrosilicon is investing NOK 800 million in energy recovery facilities for recovering energy in the flue gas from all three furnaces at the smelting plant, to produce electricity. Norconsult is responsible for the overall layout, structural design, technology, mechanical infrastructure and assistance in project management.

Novo Nordisk, Hillerød, Denmark Norconsult has participated in the team developing and manufacturing parts of the new Novo Insulin Pen PDS 290. The client Novo Nordisk is a global healthcare company with 88 years of innovation and leadership in diabetes care.

Rana Gruber, Norway In connection with the establishment of infrastructure in the new mine in Ørtfjell, Norconsult has been engaged in the design of civil engineering structures, roads and surfaces, water resources management and propane gas facilities/heating installations. We have also carried out risk assessments and construction management.

Pharmaq AS, Oslo, Norway Norconsult has assisted Pharmaq in establishing the production of vaccines for farmed fish at the production facilities of the Norwegian Institute of Public Health. We conducted the preliminary project, detail design, monitoring on the construction site, commissioning, qualification and validation. The design has included reconstruction of clean rooms, qualification of clean rooms and technical support systems. We have also assisted in the follow-up of suppliers of process equipment.

Norsk Spesialolje AS (NSO), Norway In connection with the construction of a new tank farm and refinery in Bamble, Norconsult assisted the client with an application for approval in compliance with the regulations on handling flammable substances and prepared an impact assessment with respect to fire loads. Documentation requirements for the commissioning and re-certification of used storage tanks have been clarified. We have prepared tender documents for site preparation and a concept for the use of waste heat. Detail design of other facilities is in progress.

Industry

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We offer a total range of services in: Gas distribution • Greenhouse gas management • Natural gas and LNG • Offshore facilities • Offshore power generation • Oil and gas processing • Onshore facilities • Pipelines • Storage facilities

As the largest industry in Norway, the petroleum industry is central for the country's value creation and also an important driving force for innovation in other industries. Norconsult has since the beginning of oil and gas production in Norway been involved in significant assignments in connection with development projects, both onshore and offshore. Through these projects, the company has gained extensive experience and broad interdisciplinary expertise in design, project- and construction management of complex projects with large volumes and many players.

In 2011, Norconsult decided to intensify its activities in the oil and gas industry considerably and is already on track with employment and organization to meet the clients with the right skills and adequate resources. During the year, oil and gas staff has doubled and growth is planned through 2012. Our efforts have resulted in a rapid buildup of technical and administrative expertise that has made the company able to provide services beyond what we previously have supplied to the oil and gas industry.

SOME REFERENCE PROJECTS 2011: Technology Centre Mongstad (TCM), Norway The test facility for CO2 capture at Mongstad is to open in May 2012. Norconsult has been responsible for design and construc-tion management of site preparation, earthworks, found-ations, buildings and infrastructure on behalf of Statoil and Aibel. Snøhvit LNG, Hammerfest - Train 2 Norconsult has

been responsible for all civil engineering work in several studies for the expansion of Statoil's LNG plant at Melkøya in Hammerfest. Plans for expansion include large-scale blasting and filling, quays and breakwaters, buildings, foundations and infrastructure. The work has been performed for Foster Wheeler Energy Limited, UK.

Kårstø Gas Terminal, Norway Norconsult has been engaged in projects at the plant for many years. The largest project in recent years has been KEP 2010, implemented in cooperation with KBR (formerly MW Kellogg), London. This includes work with upgrades, including the renewal of the control and safety systems. The plant has been in continuous operation during the refurbishment, which has placed great demands on the planning and the execution of the work.

Høegh LNG On behalf of Høegh LNG AS, Norconsult has worked on the design and engineering of their floating LNG production vessel which involves extensove and complicated technical challenges. All LNG terminals have previously been installed onshore. We are responsible for the assignment of technical resources to Høegh LNG AS's management team for the follow-up of engineering contractors as well as key suppliers to the production vessel.

Reserve Power Plant, Tjeldbergodden, Norway Norconsult undertook detailed planning and implement-ation of packaging, delivery, and reinstallation of Statnett’s reserve power plant at Tjeldbergodden The project is based on Norconsult’s in-depth knowledge and experience with rotating machinery, in particular gas turbine powered generator sets from offshore installations in the North Sea. After an effective planning phase, the relocation was completed in less time than originally scheduled.

Draupne project, Norway Draupne chose Norconsult to deliver services requiring expertise in numerous disciplines as well as support for the follow-up of contractors during the pre-FEED and FEED phase.

Root Cause Analysis Statoil chose Norconsult as facilitator for Root Cause Analysis for recurring turbine breakdowns in the North Sea. Norconsult used recognized principles based on NASA's problem-solving methodologies in this project.

Oil and gas

Photo: Gassco

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We offer a total range of services in: Land use planning and planning processes • Urban, city and town planning • Regional and municipal planning • Analyses and studies • Strategic consulting

Society is in a constant state of change, therefore there are a variety of considerations, requirements and expectations that must be met. Planning is a complex discipline which includes development of various locations and regions. This requires qualified insight and comprehensive oversight with special focus on the envi-ronment, aesthetics and cost-effective solutions. In-depth insight and broad understanding combined with solid experience of planning practice, give Norconsults' social scientists, geographers, architects, landscape architects and engineers the premise to carry out studies and analyses related to the overall planning and development of methods.

During 2011, Norconsult has had a conscious focus on applying for the more complex planning and development projects where specific requirements on both the process and interdisciplinarity are set. This has led to several challenging assignments, which among others have contributed to a more comprehensive and unified planning environment - across both disciplines and offices.

SOME REFERENCE PROJECTS 2011: Feasibility study, Hurum, Norway Norconsult was commissioned by Orica Norway AS to assess and analyse Orica's properties in both a regional and a local context, focusing on natural urban development from the existing downtown area.

City Package for Bodø, Norway Norconsult has assisted the municipality of Bodø with the design of decision support for a package of initiatives and investments for Bodø. The work includes status and situation descriptions, assessment of initiatives and the impact of traffic control measures, roads and public transport measures.

Area Plan for Hasseløy Nord, Haugesund, Norway Preparation for the establishment of a marine and offshore-related environment around the harbour basin, light industry and offices as well as development of a new residential area. A new open space creates a central meeting place and links the various functions.

Zoning Nygårdstangen, Bergen, Norway Creating the basis for urban development of the southern part of the centre of Bergen with the areas between the Lungegård lakes. Key factors have been harmonization with the water surface and city space to create new urban connections and prepare sites for large-scale operations.

Regional Plan for Public Health, Norway Norconsult has assisted Hordaland County with project management, process guidance and leading-edge expertise in the preparation of a regional plan for public health for the period 2012-2024. The aim of the plan is to contribute to long-term and systematic work to achieve improved living conditions in the population and to reduce societal disparities in health.

Planning

Nygårdstangen, Bergen Hasselhøy, Haugesund

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We offer a total range of services in: Working environment assessments • Emergency preparedness • HSE control systems • IT security • Quality Management Systems • Risk Management • Technical safety • Monitoring

Our constantly changing world is becoming more complex, global and open day by day. This also increases each community's vulnerability. Risk management through risk assessments, accident prevention and emergency preparedness are therefore becoming increasingly important elements. Risk management aims to prevent accidents and other unwanted incidents from occuring. In order to manage risk, it is important to know what the risk elements consist of, and which incidents that may occur.

The market demands a consulting engineering company that provides engineering services where risk mangement is integrated in the delivery chain. This has been the focus also in 2011 in the development of the business area.

SOME REFERENCE PROJECTS 2011: Oslo Tunnel, Norway The railway tunnel between Oslo S station and Skøyen was opened for operation in 1980. Since then, traffic in the tunnel and the requirements for fire safety in tunnels have changed. Norconsult was commissioned by the Norwegian National Rail Administration to conduct a risk assessment of the risk associated with fire in the tunnel, and to propose measures to reduce the risk.

Oil development programme, Uganda On a national level, we developed an environmental risk analysis and emergency preparedness plan for the oil industry (upstream and down-stream) for the Norwegian Coastal Administration and National Environment Management Authority of Uganda.

Oil exploration is located in the Albertine graben, which is an area with sensitive nature, both on land and in the water (Lake Albert).

Lima Power Plant, Sweden Norconsult has been engaged by Fortum to analyse and design dam safety measures at the Lima Power Plant at Västerdalälven in Sweden. The power plant was built in 1959 and produces 13 MW.

Safety Reports to DSB (Directorate for Civil Protection and Emergency Planning). Assistance to Esso Norway AS in connection with the preparation of safety reports in accordance with the regulations concerning the control of the "Storulykkeforskriften" (regulations concerning the control of major-accident hazards involving dangerous substances) at their distribution facilities in Bergen and Trondheim. Norconsult has been the process manager for the work.

Risk and vulnerability analysis & emergency management development, Norway Norconsult has assisted the county of Østfold in preparing a risk and vulnerability analysis, FylkesROS Østfold. We also assisted local authorities in the Moss region to develop a regional risk and vulnerability analysis, and started working on the development of emergency preparedness plans for municipalities. Norconsult also assisted the municipality of Sarpsborg to revise its emergency preparedness plans.

Railway Arna-Fløen, Norway Evacuation analysis and several risk and RAMS assessments were conducted in connection with the design of the new Ulriken tunnel and upgrading of Arna Station. The analyses have shed light on relevant risk factors, measures, and hazards, which have been followed up through the project's hazard log.

Aker Solutions, Aker Engineering and Technology Responsible for working environment in the design and construction of Zulu. This includes working environment analyses and risk assessments (chemicals).

Kollsnes rectifier station, Norway In connection with the preliminary and detailed project engineering for the rectifier station at Kollsnes, working environment assessments of the planned solutions have been carried out. Norconsult has been the process manager for the work, which also involved representatives from the design team and Statoil.

Risk management

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We offer a total range of services in: Airports • Bridges • Harbours • Rail systems • Parking • Traffic analysis • Roads • Tunnels

A well organized transportation infrastructure is a prerequi-site for a society on the move. With today's community development and large population growth, infrastructure development and land use changes are essential. Long-term and flexible transport solutions which support this growth are required. During 2011 Norconsult has strength-ened itself to meet these challenges.

Norconsult is the largest consulting environment in transport in Norway. In 2011, the company has positioned itself to meet the transport business with sound expertise, quality deliverables and increased capacity. This has resulted in strong growth in the business area. In Norway, the propo-sed new national transport plan indicates substantional investment in transport over the next decade. The high level of activity in the transport sector has given us several interesting projects in 2011 in Norway and abroad. We have also been involved in several strategic projects, such as the "High speed assessment" and a new InterCity-triangle as input to the National Transport Plan 2014-2023.

SOME REFERENCE PROJECTS 2011:Central Region Transport Network Project, Vietnam Design, contract administration and construction super-vision for rehabilitation of about 750 km of provincial and district roads in 19 provinces. Local contractors are used to upgrade the roads to bituminous standard including strengthening and improvement of drainage structures, bridges and traffic safety measures. Institutional strengthening and training is an integrated part of the project. The client is the Ministry of Transport, Vietnam.

Terminal 2 Oslo Airport, Norway Norconsult has the main responsibility for the aircraft side, which includes taxiways and aircraft parking areas with the associated technical infrastructure, and the access side, which includes access roads, roads near the terminal, covered parking and technical infrastructure.

Road 27, Sweden Cooperation between Norconsult and Svevia for new construction and reconstruction of Road 27 past Gislaved and Anderstorp in Sweden. From there and five kilometres to the south, the road is being widened by about five metres. In total, 11 km of road, three new interchanges and eight new bridges are to be built. The Client is the Swedish Transport Administration.

Kampala to Wobulenzi Road, Uganda Construction supervision for this 45 km of main road in the northern outskirts of urban Kampala. Norconsult has been respons-ible for the review of the detailed engineering design and contract documents as well as assistance in the procure-ment process. During 2011 we have mainly carried out the supervision and progress monitoring. The Client is Uganda National Roads Administration.

Joint Project E6 - Dovrebanen, Norway Approx. 6 km section of new double track railway and a new four-lane motorway from Minnesund to Espa. This includes the design for all disciplines. About half of the section will be in a tunnel. The Clients are the Norwegian Public Roads Administration and the National Rail Administration.

RV 13 Road Ryfast and E39 Eiganes tunnel Norconsult was awarded the contract for design and follow-up by the Norwegian Public Roads Administration Western Region. The Ryfast section consists of two subsea tunnels with two lanes: the Solbakk tunnel of 14.3 km, which will be the world's longest subsea tunnel, and the Hundvåg tunnel of 5.6 km. E39 includes 5 km of new four-lane motorway through Stavanger, of which 3.7 km is in a tunnel.

E6 New Minnesund bridge Norconsult has assisted the Norwegian Public Roads Administration, Eastern Region, with the design of the rebuilt bridge. The bridge, over 500 metres long with spans up to 80 metres, was opened as a two-lane bridge in 1993. In connection with the new four-lane motorway, it was widened from two to four lanes and opened in 2011.

Transport

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We offer a total range of services in: Storm water management • Waste water • Water resources management • Water supply • Coordinated technical infrastructure

Water is the vital resource for the creation of life and forliving. Sustainable use of water resources must secure water supplies for future generations. To achieve this, the technical solutions have to take into account our growing environmental pressures, demographic changes and the result of the expected climate change.

2011 has been a year with increased focus on the hand-ling of large volumes of storm water due to climate change. Norconsult has designed drainage and storm water systems in a number of major transport assignments for roads, rail systems and airports in Norway. In addition, there has been focus on the treatment of polluted storm water and use of purified water as an esthetic element. Along the coast of Norway a number of discharges of waste water with low-grade purification have been collected in central facilities with high-grade purification.

SOME REFERENCE PROJECTS 2011: The Midgard Serpent, Norway Norconsult is designing one of Norway's largest ever water and waste water projects for the municipality of Oslo's Water and Sewerage Works. This includes sewerage piping along the Akerselva River from Kuba to Vaterland, microtunnelling to Bjørvika / Gamlebyen, a rock tunnel to the Bekkelaget treatment plant and a discharge line into the fjord.

Åby purification plant, Denmark Norconsult has conducted pilot tests for the removal and recovery of phosphorus in water from the dewatering of digested sewage sludge.

As much as 95% of the phosphorus can be recovered with this process. Controlled precipitation of phosphorus also minimizes operational problems with high internal phosphorus loading and uncontrolled precipitation of phosphate salts.

Regional water supply, Sweden Municipalities in Örebro county today receive their drinking water from a variety of sources. To safeguard the future water supply, Norconsult has been engaged as a consultant for a feasibility study on the regional water supply with water from Vättern, Sweden's second largest lake, to Örebro and several municipalities.

Management of drainage water and stormwater, Sweden On behalf of the Swedish Transport Administration, Norcon-sult investigated and designed a system for the western Sweden infrastructure programme for handling drainage water and stormwater on the new E6 through the water protection area for the Göta River. Safeguards have been designed to prevent stormwater from reaching the river in the event of accidents on the highway.

Yatta Water Supply & Sanitation Project, Kenya Norconsult was awarded the contract for Design Review and Construction Supervision. The project aims to improve the domestic water supply and wastewater treatment in Yatta District. Norconsult will provide services for design review and update, tender documents, construction supervision, environmental monitoring and contract advice.

Modernization of waste water treatment, Norway Many municipalities in western Norway have built-up areas larger than 10 000 pe and are thus subject to the pollution regulations regarding stringent treatment requirements. Norconsult is an advisor to many of these municipalities in their major efforts to modernize their waste water treatment. In Bergen, we have been client advisor in the upgrade of five of the city's largest sewage treatment plants.

Water and waste water plant, phase 1 Saltdal munici-pality, Norway Norconsult has designed a new water supply system for approx. 1600 pe with a groundwater source, and approx. 16 km transmission system for drainage, elevated reservoir 850 m3, two booster stations for water and six pumping stations for waste water.

Water

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Yatta Water Supply & Sanitation Project, Kenya

Environment project, Avinors’ airports, Norway

Mangement plan,Trillemarka, Norway

Drainage and storm water handling, Sweden

Photo: Avinor

Concept study for InterCity, Norway

Terminal 2, Oslo Airport Gardermoen

ill.: Team_T

Feasibility study, Hurum, Norway

New Minnesund bridge, Norway

Risik analysis, Oslo tunnel, Norway

Road 27, Sweden

Kampala to Wobulenzi Road, Uganda

Yatta Water Supply & Sanitation Project, Kenya

De går �nt å speilvende også: Opasitet på 70 eller 100%Office Addresses

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OFFICES IN NORWAY:

Norconsult AS (head office)P.O. Box 626, 1303 SandvikaVestfjordgaten 4, 1338 SandvikaTel. +47 67 57 10 00, Fax +47 67 54 45 76Email: firmapost@norconsult.nowww.norconsult.com

AltaP.O. Box 1010, 9503 AltaLøkkeveien 4a, 9510 AltaTel. +47 78 45 70 70

AskimP.O. Box 1042, Østfold Næringspark, 1803 AskimVangsveien 10, 1814 AskimTel. +47 69 00 17 80

BergenP.O. Box1199 - Sentrum, 5811 Bergen Valkendorfsgate 6, 5012 BergenTel. +47 55 37 55 00

BodøAlsgården, Notveien 17, 8013 BodøTel. +47 75 56 58 00

Eidfjord P.O. Box 85, 5786 EidfjordLægreidsvegen 2, 5783 EidfjordTel. +47 53 64 70 88

FauskeStorgata 39, 8200 FauskeTel. +47 75 64 46 30 / +47 95 93 75 49

FredrikstadDikeveien 34, 1661 RolvsøyTel. +47 69 00 30 00

FørdeP.b. 514, 6803 Førde Firdavegen 6, 6800 FørdeTel. +47 57 82 94 40

GjøvikMerkantilveien 2, 2815 GjøvikTel. 61 13 03 30

HamarP.b. 433, 2303 Hamar Torggata 22, 2317 HamarTel. +47 62 02 52 00

HammerfestBrenneriveien 30, 9600 HammerfestTel. +47 78 60 85 00

HarstadSkoleveien 1, 9407 Harstad Tel. +47 77 00 11 33

HaugesundP.O. Box 458, 5501 HaugesundSmedasundet 66, 5528 HaugesundTel. +47 52 86 51 00

HortenP.O. Box 110, 3191 HortenApotekergata 14, 3187 HortenTel. +47 33 02 04 10

HønefossP.O. Box 258, 3502 HønefossFossveien 7/9, 3510 HønefossTel. +47 32 10 99 60

KirkenesP.O. Box 217, 9915 KirkenesStorgata 5, 9900 KirkenesTel. +47 78 59 80 00

KjøllefjordP.O. Box 128, 9790 KjøllefjordFiksekaia, 9790 KjøllefjordTel. +47 78 59 80 00

KongsbergTiedemannsgt. 4, 3616 KongsbergTel. +47 48 89 93 36

KristiansandKjøita 42, 4630 KristiansandTel. +47 38 60 34 60

KristiansundP.O. Box 2195 Futura, 6502 KristiansundIndustriveien 17, 6517 KristiansundTel. +47 71 58 88 88

LakselvP.O. Box 279, 9711 LakselvKirkeveien 5, 9700 LakselvTel. +47 78 46 08 88

LarvikP.O. Box 35 - Fritzøe Brygge, 3285 LarvikNedre Fritzøegate 2, 3264 LarvikTel. +47 33 14 14 00

LillehammerP.O. Box 284, 2602 Lillehammer Elvegata 19, 2609 LillehammerTel. +47 61 22 79 00

LillestrømParkalleen 10, 2000 LillestrømTel. +47 67 57 10 00

MandalP.O. Box 216, 4503 MandalStore Elvegate 35, 4514 MandalTel. +47 41 57 80 00

Mo i RanaPb. 237, 8601 Mo i RanaHalvor Heyerdahlsv. 4, 8626 Mo i RanaTel. +47 75 12 93 80

MoldeStorgata 18-20, 6413 MoldeTel. +47 71 24 04 60

MosjøenStrandgt. 24, 8656 MosjøenTel. +47 75 41 11 00

NarvikTeknologiveien 10, 8517 Narvik,Tel. +47 76 96 78 60

Odda Eitrheim, 5750 Odda Tel. +47 53 64 70 88

PorsgrunnPorselensvegen 20, 3920 PorsgrunnTel. +47 35 96 07 22

SkienKlostergata 30, 3732 SkienTel. +47 48 89 93 35

SkiÅsveien 3, 1400 SkiTel. +47 67 57 10 00

SogndalDalavegen 25, 6856 SogndalTel. +47 57 62 79 00

StavangerP.O. Box 130, 4065 StavangerStadionparken, Jåttåvågveien 7, 4020 StavangerTel. +47 51 90 53 00

SteinkjerKongens gate 28, 7713 SteinkjerTel. +47 41 66 03 46

TromsøPb. 228, 9253 TromsøSjøgata 39, 9008 TromsøTel. +47 77 66 70 80

TrondheimIngvald Ystgaards vei 3A, 7047 TrondheimTel. +47 73 20 46 00

Vestre Rosten 81, 7075 Tiller Tel. +47 72 89 37 50

TønsbergStensarmen 4, 3112 TønsbergTel. +47 33 50 48 47

UlsteinvikVikemyra 1, 6065 UlsteinvikTel: +47 922 89 447

VadsøP.O. Box 50, 9811 VadsøTollbugata 7, 9800 VadsøTel. +47 78 59 80 05

ÅlesundRetirovegen 4, 6019 ÅlesundTel. +47 70 17 05 00

ÅrdalP.O. Box 149, 6881 ÅrdalstangenMeierigt 2, 6885 ÅrdalstangenTel. +47 97 97 00 36

OFFICES IN DENMARK:

Norconsult Danmark A/S:KalundborgSkibbrogade 1-3, 4400 KalundborgTel. +45 44 20 98 34

KøbenhavnLautruphøj 1-3, 2750 BallerupTel. +45 44 20 98 34

ÅrhusVoldbjerg 16A, 1. sal, 8240 Risskov Tel. +45 86 99 37 99

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OFFICES OUTSIDETHE NORDIC COUNTRIES:

Chile:Norconsult Andina S.A. Avenida Apoquindo 4700, piso 9, Las Condes, SantiagoTel +56 2 592 1650

Laos:Norconsult (Laos) Co. Ltd.P.O. Box 9148, Luang Prabang Road, Vientiane Tel. +856 21 219 494, Fax +856 21 219 495

Mozambique:Norconsult Mozambique Lda. Caixa Postal 2722, Av. Armando Tivane,1853 MaputoTel. +258 21 48 50 58, Fax +258 21 48 50 57

Peru:Norconsult Perú S.A.C.Juan de Arona 187-Oficina 302, San Isidro, LimaTel: +51 1 422 2223 / 422 2229

Philippines:Norconsult Management Services (Phils), Inc.Unit 506, East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, 1605 Metro Manila Tel. +63 2 635 3819, Fax +63 2 635 3820

South Africa:Norconsult Africa (Pty) Ltd The Business Centre, 1st Floor, Office Suites 49/50 377 Rivonia Boulevard, Rivonia, 2128 JohannesburgTel. +27 11 275 0433, Fax +27 11 275 0275

Norconsult Iyanda (Pty) LtdBlock A4, Clearview Office Park, 77 Wilhelmina Drive, Allensnek, Roodepoort, GautengTel. +27 11 675 0303 Fax +27 11 675 1758

Thailand: NorCiv Engineering Co Ltd. 121/91 RS Tower, 32th floor, Ratchadaphisak Road, Din Daeng, Bangkok 10400Tel. +662 642 2450, Fax +662 248 6821

OFFICES IN SWEDEN:

Norconsult AB:GöteborgLindholmen, Theres Svenssons gata 11,P.O. Box 8774, 402 76 GöteborgTel. +46 31 50 70 00

Kristinehamn Doktor Enwalls väg 14, 681 37 KristinehamnTel. + 46 550 344 60

Ludvika Storgatan 19, 771 30 LudvikaTel. + 46 240 66 07 00

Luleå Storgatan 35, 972 31 Luleå Tel. +46 920 20 35 70

Lund Scheelevägen 17, 223 70 LundTel. + 46 40 10 66 30

Piteå Karl Grankvists väg 1A, 941 52 Piteå Tel. +46 911 23 25 30

Sollefteå Nipan 163, 881 52 SollefteåTel. +46 620 78 74 90

StockholmHornsbruksgatan 19, 117 34 StockholmTel. +46 8 462 64 30

Sundsvall Storgatan 50, 852 30 SundsvallTel. + 46 60 16 77 30

VästeråsKopparbergsvägen 6, 722 13 VästeråsTel. +46 21 34 91 30

Växjö Storgatan 42, 352 32 VäxjöTel. +46 470 70 76 00

Uppsala Bangårdsgatan 13, 753 20 UppsalaTel. +46 18 16 08 70

Älvkarleby Uppsalavägen 3, 814 70 ÄlvkarlebyTel. + 46 26 23 80 80

Örnsköldsvik Strandgatan 21, Box 850, 891 18 ÖrnsköldsvikTel. + 46 660 22 27 80

ÖstersundKunskapens väg 6 (Hus H)831 40 ÖstersundTel: +46 63 14 12 80

Norconsult Örebro AB:ÖrebroKlostergatan 3, 703 61 ÖrebroTel +46 19 611 91 30

Technogarden Engineering Resources AB: MalmöÖstra Varvsgatan 4, 211 19 MalmöTel. +46 735 14 10 00

GöteborgLindholmen, Theres Svenssons gata 11, 402 76 GöteborgTel. +46 735 14 10 00 Offices as of May 2012

StockholmHornsbruksgatan 19, 117 34 Stockholm Tel. +46 735 14 10 00

KarlstadBryggaregatan 9, 653 40 KarlstadTel. +46 735 14 10 00

VäxjöHonnörsgatan 12, 352 36 VäxjöTel. +46 735 14 10 00

Helsingborg Hävertgatan 29, 254 42 HelsingborgTel. +46 735 14 10 00

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www.norconsult.com

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