Skanska Builds Hotel in Seattle, USA, for USD 52M, about SEK 430M

Regulatory News:

Skanska (STO:SKAB) has signed a contract with the Widewaters Group to build the new Charter Hotel, which will be part of the Curio Collection by Hilton. The contract is worth USD 52M, about SEK 430M, which will be included in the order bookings for Skanska USA Building in the third quarter 2016.

The 16-story, 16,250-square meter hotel, to be constructed in downtown Seattle at 2nd Ave. and Stewart St, will include 229 guest rooms. Construction will take place above an existing parking structure built for the hotel and an adjacent 40-story apartment tower. Features of the hotel will include a full-service restaurant, meeting space as well as a top floor lounge and outdoor terrace.

Construction is under way with completion scheduled for February 2018.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 10,000 employees and its 2015 revenues were SEK 54.5 billion.

This and previous releases can also be found at www.skanska.com

The information provided herein is such as Skanska AB is obligated to disclose pursuant to the EU market securities act (EU) no. 596/2014.

Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the Nordic region, other European countries and North America. Supported by global trends in urbanization and demographics, and by being at the forefront in sustainability, Skanska offers competitive solutions for both simple and the most complex assignments, helping to build a sustainable future for customers and communities. The Group currently has 43,100 employees in selected home markets in Europe and North America. Skanska's sales in 2015 totaled SEK 155 billion.

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