Rejlers has been commissioned by the Swedish Transport Administration to produce tender documents for a new switchboard in Katrineholm. The new facility will ensure a long-term robust power supply to the railway, and the conversion from the existing centre will be able to be carried out without affecting train traffic.

Press release 13.10.2026

The existing switchboard in Katrineholm has reached its technical lifespan, at the same time as the overhead contact line facility between Hallsberg and Sköldinge is being rebuilt and converted to an AT system. Katrineholm is an important hub where the lines towards Hallsberg, Sköldinge and Åby meet, which makes the diversion between the old and new facilities particularly sensitive. The power supply must function throughout the implementation, and the work is planned to be able to take place without operational disruptions.

Rejlers' assignment includes a coordinated tender document including a technical description for the turnkey contract. The assignment includes, among other things, electric power, station control, relay protection, remote control, telecommunications, ducting, land, geotechnics, drainage and the environment, as well as a plan for decommissioning and demolition of the existing switchboard. Since the facility is being built in a station environment, geotechnical surveys, soil environmental surveys and nature value inventories are also included.

The new switchboard will have a 2-pole 15 kV switchgear for six catenary lines, a 20 kV distribution switchgear and a new substation control with relay protection, emergency disconnection and remote control. The plant will be adapted to the new AT system and to increased transmission capacity in the auxiliary power grid. Rejlers runs the design across disciplines, where electricity, land, geotechnics, construction and the environment work towards the same solution.

“Switchboards are not something the passenger sees, but if the power supply fails, the trains will stop. We are pleased that the Swedish Transport Administration has given us the confidence in Katrineholm. It is an assignment that suits us well, with a large overhead line project right next door, where much of the work is about bringing the two facilities together into a whole”, says Albin Holmberg, Business Area Manager Railways, Rejlers Sweden.

Regulatory press release 12.10.2026

The nomination committees of Rejlers AB (publ) ("Rejlers") and Multiconsult ASA ("Multiconsult") present a proposal for the board composition of the combined company ("the Combined Company" or "Multiconsult Rejlers") in connection with the proposed cross-border merger between Multiconsult and Rejlers (the "Merger"), announced 7 September 2026.

The Merger is carried out with Rejlers as the acquiring company and Multiconsult as the transferring company. The proposal for the board of directors refers to the new board that will take office upon the Swedish Companies Registration Office's (Bolagsverket) registration of the Merger.

The nomination committees' proposal

Below is a proposal from the nomination committees of Multiconsult and Rejlers regarding board composition, remuneration and number of members of the board of directors of the Combined Company.

Number of members of the board of directors

The nomination committees propose, in accordance with the merger plan, that the board of directors of the Combined Company, for the period until the end of the next annual general meeting, shall consist of six (6) shareholder-elected members without deputy members.

Proposed composition of the board of directors

The nomination committee of Rejlers proposes the following shareholder-elected members of the board of directors of the Combined Company:

• Peter Rejler (chairman)
• Johan Lannebo
• Martina Rejler

The nomination committee of Multiconsult proposes the following shareholder-elected members of the board of directors of the Combined Company:

• Jone Torstensen
• Eva Kristensen
• Tove Raanes

Remuneration

At Rejlers' annual general meeting on 29 April 2026, it was resolved that board remuneration shall amount to SEK 966,000 for the chairman of the board and SEK 347,000 for each of the other board members. It is proposed that the remuneration resolved upon by Rejlers' annual general meeting shall continue to apply to the existing board members of Rejlers, Peter Rejler (chairman), Johan Lannebo and Martina Rejler. The existing board members of Multiconsult, Jone Torstensen, Eva Kristensen and Tove Raanes, are proposed to receive remuneration corresponding to the remuneration resolved for them at the annual general meeting of Multiconsult on 16 April 2026, in the amount of NOK 360,000 to each of them.

The remuneration is payable on an annual basis and shall be reduced proportionally considering that the new members will not serve for the entire term of office.

Remuneration for committee work is proposed to remain unchanged and shall be payable in accordance with the resolution of Rejlers’ annual general meeting, with SEK 116,000 to the chairman of the Audit Committee and SEK 69,000 to each of the other members of the Audit Committee, and SEK 58,000 to the chairman of the Remuneration Committee and SEK 35,000 to each of the other members of the Remuneration Committee.

Employee representatives

The employee representatives on the board of directors of the Combined Company will be appointed in accordance with the procedure established by the Swedish Act (2008:9) on Employee Participation in Cross-Border Mergers, Divisions and Conversions. The procedure has been initiated and the employee representatives are expected to be appointed in connection with the completion of the Merger.

Presentation of proposed board members

Peter Rejler, born 1966, Chairman of the Board

Peter Rejler has been a board member of Rejlers since 2010 and Chairman since 2018 and was previously President and CEO of Rejlers. Peter holds a Master of Science in Engineering. Peter Rejler holds 1,159,750 Class A shares in Rejlers privately as well as 485,250 Class A shares and 180,340 Class B shares through the company Jangunnar AB. Peter Rejler holds no shares in Multiconsult.

Peter Rejler is considered independent in relation to the Combined Company and its management, but not in relation to major shareholders.

Johan Lannebo, born 1964, Board member

Johan Lannebo has been a board member of Rejlers since 2026. Johan holds a Master of Science in Economics. Co-founder of Lannebo Fonder and has worked as a fund manager and board member since its inception in 2000. Prior to that, Johan worked as an equity analyst, broker, and equity fund manager since 1989. Other assignments: Board member of E. Öhman J:or Asset Management AB, Lannebo Kapitalförvaltning AB, Pacy AB, Linc AB and Berner Industrier AB, as well as Chairman of the Board of Zubizuri AB. Johan Lannebo holds 365,000 Class B shares in Rejlers held privately and through companies. Johan Lannebo holds no shares in Multiconsult.

Johan Lannebo is considered independent in relation to the Combined Company, its management and major shareholders.

Martina Rejler, born 1971, Board member

Martina Rejler has been a board member of Rejlers since 2025. Martina was also a board member of Rejlers between 2021 and 2023 and Chair of the Nomination Committee between 2023 and 2025. Martina holds a Bachelor’s degree in Political Science and International Relations from Richmond University, London, as well as Psychotherapy training (GPU) in CBT/ACT from Huma Nova. Extensive experience from SEB with a focus on leadership and HR. Other assignments: Board member of Save a Coordinate (SAC) and Senior Advisor in People and Culture through her own company, Mood Society AB. Martina Rejler holds 13,125 Class A shares and 801,139 Class B shares held privately, as well as 485,250 Class A shares and 180,340 Class B shares held indirectly through the company Jangunnar AB. Martina Rejler holds no shares in Multiconsult.

Martina Rejler is not considered independent in relation to major shareholders, but is considered independent in relation to the Combined Company and its management.

Jone Torstensen, born 1961, Board member

Jone Torstensen holds a Master of Science (MSc) from the University of Bergen and the University of Stavanger, specializing in petroleum finance, as well as a background in executive roles in technology and project-driven companies, including Aker Solutions, Odfjell Drilling, and most recently as CFO of Odfjell Technology. Jone also brings experience in financial strategies, including capital allocation, governance and risk management in complex organisations. Jone has a proven track record in business development and improvement from both Aker and Odfjell. Member of the board of directors of Stiftelsen Multiconsult. Jone Torstensen holds no shares or options in Multiconsult or Rejlers.

Jone Torstensen is not considered independent in relation to major shareholders (member of the board of Stiftelsen Multiconsult) but is considered independent in relation to the Combined Company and its management.

Eva Kristensen, born 1969, Board member

Eva Kristensen holds a Master of Science (MSc) from the Norwegian University of Science and Technology (NTNU), specializing in naval architecture and marine technology, as well as a background in executive roles in technology and project-driven companies, including Altera Infrastructure Production, Ulstein Design and Solutions, and GE Oil & Gas. Eva also brings experience in strategic planning and leadership, stakeholder engagement, business transformation and growth. Eva has strategic vision, project management expertise, and a proven track record in driving business growth and digital transformation. Eva Kristensen holds no shares or options in Multiconsult or Rejlers.

Eva Kristensen is considered independent in relation to the Combined Company, its management and major shareholders.

Tove Raanes, born 1977, Board member

Tove Raanes holds a Master’s degree in finance with a background in consulting and investment activities. Tove also brings extensive experience from boards and board committees and for the past five to six years has served on the boards of two medium-sized knowledge-based companies that have shown good development. Expertise in finance and analysis, with a focus on capital allocation and transactions. During the most recent term, Tove was chair of the audit committee of Multiconsult. Tove Raanes holds 413 shares in Multiconsult held privately, as well as 4,900 shares held indirectly through the company Trane AS, and no options. Tove Raanes holds no shares in Rejlers.

Tove Raanes is considered independent in relation to the Combined Company, its management and major shareholders.

The nomination committees' reasoned statement

The nomination committees of Rejlers and Multiconsult have, in accordance with the merger plan, prepared a proposal for the board composition of the Combined Company. In preparing the proposal, the nomination committees have considered the requirements for board composition under the Swedish Companies Act and the Swedish Corporate Governance Code.

The proposed board composition reflects the cross-border merger and includes members from both the Rejlers and Multiconsult existing boards. The proposed composition combines continuity with broad expertise, providing the Combined Company with a strong foundation for future growth and value creation.

The proposed board covers expertise in engineering, finance, investments, HR and people management, technology and project management. All proposed board members are considered independent in relation to the Combined Company and its management. Three of the six proposed board members are considered independent in relation to the major shareholders of the Combined Company.

The Swedish Corporate Governance Code further stipulates that an equal gender distribution is to be strived for. The nomination committees note that the proposed board composition achieves an equal gender distribution with three men and three women among the shareholder-elected members.

Overall, the nomination committees consider the proposed board to be well suited to lead the Combined Company through the integration phase and into the next growth phase.

Multiconsult ASA (OSE: MULTI) and Rejlers AB (publ) (STO: REJL B) Hans-Jørgen Wibstad has been appointed Chief Financial Officer (CFO) of Multiconsult ASA, effective 1 November 2026. Upon completion of the proposed merger between Multiconsult ASA and Rejlers AB (publ), subject to shareholder approval and fulfilment of the other closing conditions, he will become CFO of the combined company, Multiconsult Rejlers. He will be based at the main office in Oslo. The appointment completes the recruitment process announced when the companies presented the proposed merger on 7 September 2026 and completes the formation of the executive management team of the combined group.

Regulatory press release 8.10.2026

Hans-Jørgen Wibstad joins from Norwegian Air Shuttle ASA, where he has served as CFO since May 2022. He was previously CFO of Multiconsult from 2019 to 2022. Before joining Multiconsult, he was CFO of Kongsberg Gruppen ASA from 2012 to 2017. He has also worked in corporate banking at Danske Bank, Crédit Agricole and Nordea.

Across more than 20 years in CFO and senior management positions, Wibstad has gained broad experience of financial management and reporting, capital markets and M&A, international business development and investor communication. He holds an MBA from the University of Colorado Boulder and was elected to the Board of Directors of Multiconsult in April 2026.

“Hans-Jørgen combines deep financial expertise with broad experience from listed international companies and a proven track record as a leader. His knowledge of Multiconsult and his experience of transformation, capital markets and value creation make him the right person for this role. I am confident that we will make a strong team. He will have an important part to play as we build a leading multidisciplinary consultancy and further develop our market positions,” says Viktor Svensson, President and CEO of Rejlers.

“I am very pleased that Hans-Jørgen has accepted the role of CFO in the new group. He played an important role in leading the transformation and improvements at Multiconsult during his time as CFO from 2019 to 2022. He knows our organisation and business well and will contribute significantly as we create a stronger platform for profitable growth and long-term value creation. I am particularly pleased to welcome him back to Multiconsult at this exciting stage in the development of the new group,” says Kristin O. Augestad, interim CEO of Multiconsult.

“I am delighted to take on the role of CFO of Multiconsult Rejlers and to join the new group at an exciting point in its development. Multiconsult and Rejlers are two strong companies with complementary capabilities and significant potential. I look forward to working with the management and finance teams to build a strong financial platform, support the integration and contribute to profitable growth and long-term value creation for shareholders, clients and employees,” says Hans-Jørgen Wibstad.

Wibstad will assume the role as CFO of Multiconsult ASA on 1 November 2026. He will step down from its Board of Directors on 8 October 2026, coinciding with this announcement. Upon completion of the proposed merger, Wibstad will assume the role of CFO of the combined company, Multiconsult Rejlers. Anna Jennehov will continue as Finance Director in the combined company, contributing her extensive experience and knowledge of the business. If the merger does not proceed, Wibstad will remain CFO of Multiconsult ASA.

The proposed merger remains subject to shareholder approvals, regulatory clearances and other customary completion conditions. Completion is expected in late 2026 or early 2027.

Rejlers has been commissioned by the Swedish Transport Administration to design capacity-enhancing measures at Gräsberg's operating site on the Bergslagsbanan line between Borlänge and Ludvika. The conversion will make it possible for 750-metre-long freight trains to meet at the station, thereby contributing to increased capacity and more efficient freight transport by rail.

Press release 30.9.2026

Freight traffic between Borlänge and Ludvika is currently limited by the fact that the meeting stations are not dimensioned for current and future train lengths. At Gräsberg, the deviating main track will therefore be extended southwards and new switches will be planned. The solution will make it possible for longer freight trains to meet, while at the same time allowing the trains to maintain a minimum of 80 km/h on the deviating main track.

Rejlers is responsible for design and coordination within the railways, electricity, signalling, telecommunications (BEST) and land areas. The assignment also includes tender documents and construction documents for the execution contract, technical safety management and the handling of the approval process. At the same time, consideration is given to cultural-historical remains and the species-rich railway environment along the route.

A key prerequisite is that traffic should be affected as little as possible during the reconstruction. The work is carried out within limited times on tracks, and the connection takes place during a total shutdown. Constructability, technology and implementation are therefore handled as a whole already in the design phase.

Longer freight trains can transport more goods with fewer train movements and are part of the Swedish Transport Administration's work for longer, heavier and larger trains. Increased capacity on the Bergslagsbanan will create the conditions for more robust and efficient freight traffic and strengthen the railway's ability to take a larger share of freight transport.

“We are pleased with the confidence from the Swedish Transport Administration and look forward to contributing to increased capacity on the Bergslagsbanan. Gräsberg is an assignment that requires coordination between many types of technology, while at the same time keeping the impact on traffic during the reconstruction as small as possible. These are conditions where our collective railway expertise will come in handy”, says Hamzeh Hassoun, Business Area Manager Railways, Rejlers Sweden.

Rejlers has signed a four-year framework agreement with Stockholm Globe Arena Fastigheter AB (SGA Fastigheter) covering engineering design and project management services.

Press release 21.9.2026

SGA Fastigheter, which is owned by the City of Stockholm, is responsible for owning, managing and developing the venues in the Globen area – 3Arena, Avicii Arena including SkyView, Hovet and Annexet – as well as the entertainment destination Tolv Stockholm.

The venues in the Globen area are an important part of Stockholm’s offering of event and meeting spaces. Ensuring that the technical systems operate reliably and can be developed in line with evolving requirements is essential for the venues to remain safe, energy-efficient and fit for the future.

The framework agreement covers engineering design and project management services across several technical disciplines, including HVAC and plumbing, electrical systems, building and structural engineering, building automation and SCADA, fire and security systems, and lighting systems. Through the agreement, SGA Fastigheter gains access to senior consultants who can provide support for both small and large projects.

“We are pleased to have been entrusted with supporting SGA Fastigheter in their ongoing work. This is exactly the type of assignment where our broad range of technical expertise makes a difference, and where we can contribute both continuity and specialist knowledge over time”, says Jonas Holmstedt, Head of Division Buildings at Rejlers.

The shareholders of Rejlers AB (publ), reg. no. 556349-8426 (the “Company” or “Rejlers”), are hereby given notice to attend the extraordinary general meeting on Monday, 19 October 2026 at 10.00 a.m. at the offices of Setterwalls Advokatbyrå, Sturegatan 10, 114 36 Stockholm, Sweden.

Regulatory press release 18.9.2026

RIGHT TO PARTICIPATE

Right to participate and notice of participation at the meeting

Shareholders who wish to attend the meeting in person or through a proxy must:

• both be recorded as shareholders in the share register kept by Euroclear Nordics AB on the record date on Friday, 9 October 2026; and
• no later than Tuesday, 13 October 2026 have notified their attendance and any assistants to the Company; either in writing to Rejlers AB (publ), Extraordinary General Meeting, Box 30233, SE-104 25 Stockholm, Sweden or by e-mail to [email protected].

The notification shall include full name, personal or corporate identity number, address, daytime phone number and, when applicable, information about deputies, proxies and assistants. The maximum number of assistants is two. In order to facilitate registration for the meeting, the notification should, when applicable, be accompanied by powers of attorney, registration certificates and other documents of authority.

SHARES REGISTERED WITH NOMINEES

Shareholders who have their shares registered in the name of a nominee must, in order to be entitled to participate in the meeting, through the nominee, register their shares in their own name so that the shareholder is registered in the share register kept by Euroclear Nordics AB on the record date on Friday, 9 October 2026. Such registration may be temporary (so-called “voting rights registration”). Shareholders wishing to register their shares in their own name must, in accordance with the procedures of the respective nominee, request the nominee to carry out such voting rights registration. Voting rights registration requested by shareholders in such time that the registration has been made by the relevant nominee no later than Tuesday, 13 October 2026 will be considered in the preparation of the share register.

PROXIES

Shareholders represented by proxy must issue a written and dated power of attorney signed by the shareholder for the proxy. If the power of attorney is issued by a legal entity, a copy of the registration certificate shall be attached or, if no such document exists, an equivalent document of authority. Power of attorney forms for shareholders who wish to participate in the meeting through a proxy are available on the Company’s website www.rejlers.com. A copy of the power of attorney and any registration certificate should, well in advance of the meeting, be sent to: Rejlers AB (publ), Extraordinary General Meeting, Box 30233, SE-104 25 Stockholm, Sweden or alternatively to: [email protected]. The original version of the power of attorney must also be presented at the meeting.

PROPOSED AGENDA

1. Opening of the meeting;
2. Election of chairman of the meeting;
3. Preparation and approval of the voting list;
4. Approval of the agenda;
5. Election of persons to verify the minutes;
6. Determination of whether the meeting has been duly convened;
7. Resolution on amendment of the articles of association (share capital limits, limits on the number of shares and collection of proxies and postal voting);
8. Resolution on approval of the Merger Plan;
9. Resolution on amendment of the articles of association (company name);
10. Resolution on authorisation for the board of directors to resolve on a new issue of shares to pay the Merger Consideration;
11. Resolution on (a) determination of the number of board members, (b) determination of remuneration to the board of directors, and (c) election of board members and chairman of the board of directors;
12. Resolution on temporary amendment of the instruction for the nomination committee; and
13. Closing of the meeting.

THE BOARD OF DIRECTORS’ PROPOSALS FOR RESOLUTIONS

Item 2. Election of chairman of the meeting

The board of directors proposes that Peter Rejler, chairman of the board of directors, or, in the event of his unavailability, any individual proposed by the board of directors to serve in his stead, be elected as chairman of the meeting.

Items 7–12. Resolutions regarding the proposed Merger

To implement the proposed cross-border merger (the “Merger”) between Rejlers and Multiconsult ASA (“Multiconsult”), the board of directors proposes that the meeting adopts the resolutions under items 7–10 and, in accordance with the nomination committee’s proposals, under items 11–12 below on approval of the merger plan jointly adopted by the boards of directors of Rejlers and Multiconsult (the “Merger Plan”), amendment of the articles of association and authorisation for the board of directors to resolve on an issue of newly issued class B shares that constitute the merger consideration (the “Merger Consideration”).

The resolutions under items 8–12 are conditional upon each other. The resolutions under items 8, 9, 11 and 12 are also conditional upon registration of the Merger with the Swedish Companies Registration Office. Registration of the Merger with the Swedish Companies Registration Office is subject to the conditions of the Merger Plan being satisfied, inter alia that the general meetings of both companies have approved the Merger Plan and that the requisite permits, approvals, decisions and other measures from authorities and similar have been obtained.

Item 7. Resolution on amendment of the articles of association (share capital limits, limits on the number of shares and collection of proxies and postal voting)

The board of directors proposes that the limits for the share capital and the number of shares in Sections 4 and 5 of the articles of association be amended and that a new Section 14 be introduced as set out below.

Item 8. Approval of the Merger Plan

The board of directors proposes that the meeting resolves to approve the Merger Plan, dated and executed on 7 September 2026, which has been jointly adopted by the boards of directors of Rejlers and Multiconsult. The Merger Plan was registered with the Swedish Companies Registration Office on 11 September 2026 and notice thereof was published on 15 September 2026.

The Merger is a cross-border merger pursuant to Chapter 23, Section 36 of the Swedish Companies Act and Chapter 13, Part VII of the Norwegian Public Limited Liability Companies Act and shall be undertaken by way of absorption, with Rejlers as the transferee company and Multiconsult as the transferring company. Multiconsult shall be dissolved without liquidation and all assets, rights and liabilities shall be transferred to Rejlers by universal succession upon completion of the Merger. The combined company shall be named Multiconsult Rejlers AB (publ).

The exchange ratio entails that each share in Multiconsult entitles the holder to receive 0.9725 new class B shares in Rejlers, corresponding to 389 new class B shares in Rejlers for every 400 shares in Multiconsult (subject to an adjustment mechanism as described in the Merger Plan).

Settlement of the Merger Consideration shall take place following the Swedish Companies Registration Office’s registration of the Merger.

Item 9. Resolution on amendment of the articles of association (company name)

The board of directors proposes that the meeting resolves to amend Section 1 of the articles of association as set out below, whereby the Company’s company name shall be changed to Multiconsult Rejlers AB (publ).

The resolution on amendment of the articles of association is conditional upon the Swedish Companies Registration Office registering the Merger and shall be registered in connection therewith. The board of directors, the CEO or any person appointed by the board of directors shall have the right to make such minor adjustments as may prove necessary in connection with registration with the Swedish Companies Registration Office.

Item 10. Authorisation for the board of directors to resolve on a new issue of shares to pay the Merger Consideration

The board of directors proposes that the meeting authorises the board of directors to, on one or more occasions during the period until the next annual general meeting, with deviation from the shareholders' preferential rights, resolve on a new issue of class B shares to be paid as Merger Consideration to the shareholders of Multiconsult in accordance with the Merger Plan.

The purpose of the authorisation, and the reason for the deviation from the shareholders' preferential rights, is to enable the payment of the Merger Consideration in accordance with the Merger Plan.

The use of an authorisation, instead of an issue resolution adopted directly by the general meeting, constitutes such a minor amendment in relation to the Merger Plan as the chairman of the board of directors of Rejlers and the chairman of the board of directors of Multiconsult may jointly resolve upon pursuant to the amendment clause of the Merger Plan. The amendment is not detrimental to the shareholders, since the Merger Consideration is provided on unchanged terms in accordance with the Merger Plan.

The board of directors, or any person appointed by the board of directors, shall be authorised to make such minor adjustments to the resolution as may be required for the registration with the Swedish Companies Registration Office.

THE NOMINATION COMMITTEE'S PROPOSALS FOR RESOLUTIONS

Item 11. Resolution on the number of board members, remuneration and election of the board of directors

The nomination committee will, no later than in connection with the meeting, submit its proposals under item 11.

A short presentation of the proposed members and the nomination committee’s reasoned statement will be made available on the Company’s website www.rejlers.com no later than in connection with the meeting.

Item 12. Resolution on temporary amendment of the instruction for the nomination committee

The nomination committee proposes that the meeting resolves on a temporary amendment of the instruction for the nomination committee, entailing that the nomination committee which shall prepare proposals for the annual general meeting 2027 shall, with effect from registration of the Merger with the Swedish Companies Registration Office, consist of three members: Arnor Jensen, representing Stiftelsen Multiconsult, who shall be the chairman of the nomination committee, Lisa Rejler, who is the chairman of Rejlers’ current nomination committee and represents the Rejler family, and one member appointed by the third largest shareholder in the combined company following the registration of the Merger, counted after the Rejler family and Stiftelsen Multiconsult. The composition is based on the ownership in the Company immediately following the registration of the Merger with the Swedish Companies Registration Office. The amendment applies only to the nomination committee ahead of the annual general meeting 2027. Thereafter, the instruction continues to apply in its ordinary wording.

SPECIAL MAJORITY REQUIREMENTS AND VOTING UNDERTAKINGS

For valid resolutions under items 7–10, it is required that the proposals are supported by shareholders representing at least two-thirds (2/3) of both the votes cast and the shares represented at the meeting. In respect of item 8, this majority requirement shall apply separately to each class of shares represented at the general meeting.

Pre-acceptances and undertakings to vote in favour of the Merger Plan have been obtained from members of the Rejler family (including Jangunnar AB), Lauri Valkonen, and certain of the other shareholder-elected directors and members of the executive management, representing in aggregate approximately 18 per cent of the share capital and approximately 51 per cent of the votes in Rejlers.

NUMBER OF SHARES AND VOTES IN THE COMPANY

As at the date of this notice, the number of shares in the Company amounts to 22,835,567, of which 1,749,250 are Class A shares and 21,086,317 are Class B shares, and the number of votes in the Company amounts to a total of 38,578,817. The share capital amounts to SEK 45,671,134. The Company holds no treasury shares.

SHAREHOLDERS' RIGHT TO REQUEST INFORMATION

Pursuant to Chapter 7, Section 32 of the Swedish Companies Act, the board of directors and the CEO shall, if any shareholder so requests and the board of directors deems that it may be done without significant harm to the Company, provide information at the meeting regarding circumstances that may affect the assessment of a matter on the agenda.

DOCUMENTS

The Merger Plan with appendices, including the boards of directors’ reports pursuant to Chapter 23, Sections 39–39 b of the Swedish Companies Act, the auditor’s statement from Ernst & Young AB pursuant to Chapter 23, Sections 11 and 40 of the Swedish Companies Act and the auditor’s statement from BDO AS pursuant to section 13-28 of the Norwegian Public Limited Liability Companies Act in respect of Multiconsult have been available on the Company’s website www.rejlers.com since 7 September 2026 and are kept available at the Company’s offices. The documents will be sent free of charge to shareholders who so request and provide their postal address.

Shareholders, creditors and employee representatives are entitled to submit comments on the Merger Plan no later than five business days before the meeting, i.e. no later than 12 October 2026, and comments received will be presented to the meeting. Comments shall be submitted by post to Rejlers AB (publ), Att: CFO, Lindhagensgatan 126, Box 30233, SE-104 25 Stockholm, Sweden or by e-mail to [email protected] and shall be marked “Project Nordic Diamond – Comments on the Merger Plan”. All of the above documents will also be presented at the meeting.

The board of directors’ and the nomination committee’s complete proposals for resolutions, including the complete proposed articles of association, and proxy forms are kept available on the Company’s website www.rejlers.com and at the Company’s offices and will be sent free of charge to shareholders who so request.

PROCESSING OF PERSONAL DATA

Personal data obtained from the share register kept by Euroclear Nordics AB, notification and participation in the meeting and information on deputies, proxies and assistants will be used for preparation of the voting list for the meeting and, where applicable, the minutes of the meeting. Personal data is handled in accordance with the General Data Protection Regulation (Regulation (EU) 2016/679 of the European Parliament and of the Council). For comprehensive information regarding how personal data is handled, please refer to: https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

_____________________________

Stockholm, September 2026

Rejlers AB (publ)

The board of directors

Rejlers has been selected as a framework agreement partner to the Finnish Transport Infrastructure Agency for surveying and modelling services for road and railway projects across Finland. The framework agreement covers the period 2026–2029 and continues a long-standing cooperation with the agency.

Press release 10.9.2026

The agreement covers a broad range of surveying and modelling services supporting the planning, implementation and quality assurance of transport infrastructure projects. The services include the establishment and maintenance of survey control networks, laser scanning, aerial imaging, and the production of terrain models and base maps.

Accurate surveying and modelling data provides an important basis for the planning and construction of road and railway infrastructure, contributing to efficient project delivery, quality and safety.

Through SGM Consulting, part of Rejlers since February 2026, Rejlers was selected as one of six service providers under the framework agreement. This marks the third consecutive framework agreement for surveying services with the Finnish Transport Infrastructure Agency.

“This is an important framework agreement with broad scope across Finland’s road and rail network. It continues our long-standing cooperation with the Finnish Transport Infrastructure Agency and gives us the opportunity to contribute our expertise from the early planning stages of infrastructure projects through to implementation,” says Mika Jääskeläinen, CEO and Business Director of SGM Consulting, part of Rejlers.

SGM Consulting became part of Rejlers in February 2026, strengthening Rejlers’ expertise in surveying, modelling and infrastructure services in Finland.

Martinlaakso’s electric boiler and thermal battery for Vantaan Energia (EPCM)

Customer reference

Rejlers acted as a partner to Vantaan Energia in a major energy infrastructure project involving the construction of the company’s first electric boiler and an accompanying 700 MWh district heating battery at the Martinlaakso power plant site in Vantaa, Finland. The electric boiler is one of Vantaan Energia’s many actions to increase emissions-free heat production.

Reference 8.9.2026

Project summary

• Facts

  Vantaan Energia’s first electric boiler and an accompanying 700 MWh district heating battery at the Martinlaakso power plant site.

• What we did

  Rejlers was responsible for the full EPCM delivery (Engineering, Procurement and Construction Management) and acted as the principal contractor at the construction site.

• Highlights

  “The Martinlaakso project was delivered using the EPCM model. EPCM offers flexibility, particularly when construction is carried out in connection with an existing plant. At the same time, it requires close cooperation between the client and the EPCM consultant. Collaboration with Rejlers worked very well, and we are satisfied with the final outcome.” Juuso Pulkkinen, Project Manager at Vantaan Energia

Rejlers was responsible for the full EPCM delivery (Engineering, Procurement and Construction Management) and acted as the principal contractor at the construction site. Our experts were in charge of project management, procurement, detailed engineering, construction management, site supervision and commissioning coordination.

Implemented between 2024 and 2025, the project was delivered in close collaboration with multiple stakeholders. Approximately 50 suppliers and contractors were involved, and including subcontracting chains, more than 500 professionals worked on-site over the course of the project.

– The Martinlaakso project was delivered using the EPCM model. EPCM offers flexibility, particularly when construction is carried out in connection with an existing plant. At the same time, it requires close cooperation between the client and the EPCM consultant. Collaboration with Rejlers worked very well, and we are satisfied with the final outcome, says Juuso Pulkkinen, Project Manager at Vantaan Energia.

New flexibility for the electrification of district heating

The 60-megawatt electric boiler completed at Martinlaakso marks the beginning of a new era in Vantaan Energia’s heat production. Heat generation based on emission-free electricity enables district heat to be produced when electricity prices are low. The generated heat can either be supplied directly to the district heating network or stored in a 700-megawatt-hour thermal battery – the volume of stored water corresponds to approximately six Olympic-sized swimming pools.

The electric boiler has sufficient capacity to heat around 6,000 detached houses, replacing the use of solid biofuels while delivering improved cost efficiency and lower emissions. Thanks to the thermal energy storage, Vantaan Energia can further optimise heat production and make more effective use of periods of low electricity prices. The system also improves security of supply by reducing dependence on fuel availability and price volatility.

A cornerstone of Vantaa’s future heating system

Together, the electric boiler and district heating battery form a core component of Vantaa’s emerging flexible and electrified heat production system. In addition to electric heat generation, the system is based on utilising excess heat, energy storage and waste heat recovered from the thermal treatment of non‑recyclable waste.

– The Martinlaakso project is an excellent example of how the EPCM model creates clear added value for the client. We were able to combine best practices from industrial project delivery, strong technical expertise and close cooperation with Vantaan Energia. The result is a solution that not only improves the efficiency of district heating production but also accelerates the entire sector’s transition towards a low‑emission and flexible energy system says Jussi Likitalo, VP Energy & Utilities, Industry division at Rejlers Finland.

Photos: Vantaan Energia

Multiconsult Group and Rejlers Group today announce plans for a merger of equals. The new group will be named Multiconsult Rejlers and will become one of the Nordic region’s leading engineering consultancy groups, offering advisory, engineering and architectural services.

Press release 7.9.2026

Viktor Svensson of Rejlers will become President and CEO of the combined group. Kristin O. Augestad of Multiconsult will continue as CEO of Multiconsult Norway and also become Deputy CEO of the combined group. Multiconsult Norway will be the Group’s largest segment, with approximately 3,400 employees.

A perfect match

Multiconsult and Rejlers complement each other extremely well. Both companies have a strategy for growth in the Nordic region. Multiconsult has a strong position in Norway and a relatively small presence in Sweden, while Rejlers has a strong position in Sweden and a relatively small presence in Norway. Multiconsult operates in Poland, while Rejlers has operations in Finland. In addition, Multiconsult owns two leading architecture firms, LINK and A-Lab, enabling the combined group to become involved at an earlier stage in projects across the Nordic region. 

“I am very excited to announce this landmark merger and the most significant transformation in the history of Rejlers to date. By combining forces with the highly accomplished consultants at Multiconsult, we will create a larger and stronger multidisciplinary consultancy, enabling us to continue strengthening our market positions in the Nordics,” says Viktor Svensson and continues:

“I believe that this is a perfect match. We will broaden our geographic reach, accelerate the development of our technical expertise, and improve our value proposition for both our clients and our people. I very much look forward to working with the new combined management team of the group and all the fantastic employees of Multiconsult and Rejlers.”

Kristin O. Augestad emphasises that the merger brings together two successful companies.

“Rejlers and Multiconsult are two strong companies with more than 200 years of combined experience as advisers on complex projects of major importance to society. Both companies have delivered solid results over many years and built strong multidisciplinary capabilities. Together, we will become one of the Nordic region’s leading engineering consultancy groups, creating a strong foundation for continued growth,” says Kristin O. Augestad.

A strong position in energy, industry and defence

Multiconsult Rejlers will achieve a leading position in the energy and industry sectors, based on revenue. The combined group will also have a strong position towards defence-related projects in Norway, Sweden and Finland.

“Together, we can deliver greater quality for our clients across the entire value chain and in every area of expertise. We will be a natural first choice for large and complex assignments, as well as a highly attractive workplace for both current and future employees,” says Kristin O. Augestad.

Multiconsult Rejlers will have approximately 8,000 employees, primarily in Norway, Sweden and Finland, as well as a significant presence in Poland, Denmark, the United Kingdom and the United Arab Emirates. Together, the companies have combined revenues of approximately SEK 11,7 billion and combined adjusted EBITA of SEK 795 million. The Group will have its head office in Stockholm and a main office in Oslo, where several members of Group Management will be based.

The Group will be named Multiconsult Rejlers, while the companies within the Group are expected to retain their existing brands to a large extent. Rejlers Norway will be included in Multiconsult Norway, Iterio will be included in segment Sweden and Multiconsult Poland will be included in segment Finland & International. These changes are planned for implementation during 2027.

The way forward

Completion is expected to take place in late 2026 or early 2027. Completion is subject to approval by the companies’ shareholders at Extraordinary General Meetings to be held 19 October 2026, as well as merger control clearances, other required regulatory and authority approvals and the fulfilment of the other conditions set out in the Merger Plan.

Regulatory press release 7.9.2026

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER ACTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE A NOTICE TO A GENERAL MEETING, A MERGER DOCUMENT, A PROSPECTUS, AN OFFER TO SELL OR THE SOLICITATION OR INVITATION OF AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR SECURITIES, OR AN INDUCEMENT TO ENGAGE IN INVESTMENT ACTIVITY. SEE ALSO THE SECTION “IMPORTANT INFORMATION” AT THE END OF THIS PRESS RELEASE.

Stockholm and Oslo, 7 September 2026, 07:30 CEST

Today, Multiconsult ASA ("Multiconsult") and Rejlers AB (publ) ("Rejlers") announce that their respective Boards of Directors have adopted a joint cross-border merger plan (the “Merger Plan”) for the combination of the companies (the “Merger”) under which each Multiconsult shareholder will receive 0.9725 Rejlers class B shares for every Multiconsult share, corresponding to 54% ownership for Multiconsult shareholders and 46% ownership for Rejlers shareholders in the combined company.

The new group will be named Multiconsult Rejlers (the “Combined Group”). Multiconsult Rejlers will be a leading pan-Nordic multidisciplinary consultancy group, with a leading position within Energy and Industry and better positioned to deliver continued profitable growth and long-term value creation. The combination will also strengthen its ability to attract, develop and retain highly competent employees. With close to 8,000 employees, the Combined Group will bring together complementary capabilities in engineering, architecture, advisory and design. The Merger will strengthen the group’s ability to serve clients across markets and geographies, creating further growth opportunities. In addition, the Merger is expected to generate cost synergies of about SEK 100-120 million on an annual basis within three years. With a market capitalisation of close to SEK 8 billion, Multiconsult Rejlers will have an enhanced position in the capital markets and will be dual listed on Nasdaq Stockholm and Euronext Oslo Børs, with Stiftelsen Multiconsult and the Rejler family as committed long-term owners. For the Combined Group, Viktor Svensson will be President and CEO and Kristin O. Augestad will be Deputy CEO, with headquarters in Stockholm and a main office in Oslo.

Background – complementary strengths and strong cultures

Multiconsult and Rejlers are two successful companies with long histories and strong cultures. Both companies benefit from committed long-term owners, including Stiftelsen Multiconsult and the Rejler family. Multiconsult and Rejlers have proven track records of solid and profitable growth.

The companies are of approximately similar size and a perfect match considering culture as well as complementary geographic strongholds and expertise. Multiconsult brings broad multidisciplinary capabilities, a strong position in Norway and an established presence across Denmark, Poland and the UK. Its offering includes Building and Properties, Energy and Industry, Mobility and Transportation and Water and Environment. Rejlers brings complementary expertise across the energy, industry, building and infrastructure sectors, together with an established presence in Sweden, Finland, Norway and the UAE.

Together, Multiconsult and Rejlers will create a broader pan-Nordic platform with complementary capabilities and enhanced geographic reach. By bringing together more than 4,200 Multiconsult employees and approximately 3,600 Rejlers employees, the combination will create new opportunities for close to 8,000 professionals to collaborate, develop and deliver greater value to clients.

Strategic rationale – positioning for accelerated growth and profitability

Multiconsult Rejlers will be well positioned to deliver growth and long-term value creation for its shareholders, while further strengthening its ability to attract, develop and retain highly competent employees.

Key rationale for the Merger:

• Forming a leading pan-Nordic multidisciplinary consultancy group with a particularly strong position within the energy and industrial markets and a strong position towards defence-related projects
• Strengthened position as an attractive employer through investments in expertise, learning, development and cross-border collaboration. Multiconsult Rejlers will create additional opportunities to work on complex and technically demanding projects, while strengthening specialist competences and career opportunities
• Becoming a natural partner for large and transformational Nordic projects through complementary competences and geographies. The increased scale of the Combined Group will strengthen its position towards larger clients and enhance its ability to deliver complex projects across markets and geographies, strengthening the client value proposition. Further, Multiconsult Rejlers offers opportunities to combine architecture and engineering services, expand capabilities within the Arctic, coastal/harbour, maritime and geotechnical services, leverage the combined competence in serving the oil and gas sector and strengthen infrastructure capabilities in Finland and Poland
• Leveraging scale, a strong balance sheet and an enhanced position in the capital market with market capitalisation of close to SEK 8 billion will allow for further investments in Artificial Intelligence, employee development, acquisitions and further expansion
• Realising cost synergies of about SEK 100-120 million on an annual basis through efficiency gains. The Merger is driven by accelerating growth through revenue synergies and both organisations are therefore expected to be preserved to a large extent. Cost synergies are expected within e.g. IT, procurement, administrative functions, audit and optimisation of the office network. The full effects of the synergies are expected to be reached within three years with one-off integration costs of approximately SEK 40 million

Statement from Peter Rejler, Chairman of the Board of Directors of Rejlers

“Multiconsult has, similarly to Rejlers, a long history of profitable growth through delivering valuable services to their clients and we are highly impressed with the journey they have accomplished so far. It is clear that both companies will gain significant new advantages through this merger of equals by creating a leading pan-Nordic multidisciplinary consultancy group. This merger enables both companies to create significant long-term shareholder value. It would be a privilege to continue as a long-term owner together with Stiftelsen Multiconsult in this combined company.”

Statement from Rikard Appelgren, Chairman of the Board of Directors of Multiconsult

_“_The Board believes this merger represents a unique opportunity for Multiconsult shareholders. Together, we are creating a stronger Nordic group with broader capabilities, greater scale and a stronger position in attractive growth markets. The combination will benefit our clients through an enhanced service offering and provide our employees with new opportunities for development and collaboration across the Nordic region. Importantly, Multiconsult shareholders will continue as significant owners in the combined company, which will continue to benefit from committed long-term owners supporting profitable growth for all shareholders.”

Statement from Viktor Svensson, President and CEO of Rejlers and Multiconsult Rejlers

“I am very excited to announce this landmark merger and the most significant transformation in the history of Rejlers to date. By combining forces with the highly accomplished consultants at Multiconsult, we will create a larger and stronger multidisciplinary consultancy, enabling us to continue strengthening our market positions in the Nordics. I believe that this is a perfect match of two already successful equals where both companies will complement each other. We will broaden our geographic reach, accelerate the development of our technical expertise, and improve our value proposition for both our clients and our people.

As the President and CEO of the new group, I very much look forward to working with the new combined management team of the group and all the fantastic employees of Multiconsult and Rejlers.”

Statement from Kristin O. Augestad, Interim CEO of Multiconsult and Deputy CEO of Multiconsult Rejlers

“Together with Rejlers, we will create new opportunities for collaboration, learning and professional development for our employees, while offering clients an even broader range of services and capabilities. Multiconsult will continue to play an important role in the combined group, with a main office in Oslo and several members of the executive management team based there. As we move towards completion, our focus will remain on delivering solutions that provide high value for clients and society.”

Statement from Arnor Jensen, Chair of the Board of Stiftelsen Multiconsult

“Stiftelsen Multiconsult is strongly supporting the combination with Rejlers as we believe it's the best way to secure the long-term development of Multiconsult, combining the skills of two excellent organisations and establishing a strong strategic position. Stiftelsen Multiconsult will remain a committed, long-term shareholder in Multiconsult Rejlers, and we look forward to working together with the new owners to ensure the successful growth of the company.”

The Combined Group – Multiconsult Rejlers

Multiconsult Rejlers will be a pan-Nordic multidisciplinary consultancy group with four Nordic home markets with c. 3,700 employees in Norway, c. 2,100 in Sweden, c. 1,000 in Finland and c. 100 in Denmark. In addition, the group will have strategically important and fast-growing international operations with c. 400 employees in Poland, c. 300 employees in the UAE and c. 60 employees in India and the UK. Both organisations will be preserved to a large extent under the current local brands and current leadership. The organisation will have a clear focus on country P&L while securing revenue and cost synergies. It is the intention that Rejlers Norway will be included in segment Norway, Iterio will be included in segment Sweden, Poland will be included in segment Finland and International, and Architecture will be a separate segment. The headquarters will be in Stockholm with a main office in Oslo in which several people within the executive management team will be based. A new CFO will be recruited and will be based in Oslo. Following the proposed Merger, additional group functions will be divided between Stockholm and Oslo. The group management team will consist of the following:

• Viktor Svensson, President and CEO
• Kristin O. Augestad, Deputy CEO and Head of Norway
• Jenny Edfast, Head of Sweden
• Mikko Vaahersalo, Head of Finland & International
• Kristina Jordt Adsersen, Head of Architecture
• Anna Jennehov, CFO
• Geir Juterud, Head of Digital & AI
• Kari Nicolaisen, Head of People & Organisation
• Malin Sparf Rydberg, Head of Communication & Sustainability

For the twelve-month period ended 30 June 2026, Multiconsult and Rejlers in combination delivered revenues of SEK 12 billion and SEK 795 million in adjusted EBITA. The Combined Group intends to adopt the following financial targets[1] :

• 10% revenue growth per annum
• 10% EBITA margin

Preliminary combined financial information

The preliminary combined financial information presented below is for illustrative purposes only. It has not been prepared in accordance with IFRS, does not constitute pro forma financial information, has not been audited or otherwise reviewed by the auditors of Multiconsult or Rejlers, and does not account for differences in accounting policies or definitions of non-IFRS measures. Readers are referred to "Note about preliminary combined financial information and basis of preparation" under "Important information" below.

* NOK/SEK rate of 0.993. NOK/SEK of 0.981 for balance sheet.

** To achieve comparable revenue numbers, operating revenue for Multiconsult and Net sales for Rejlers has been applied throughout.

*** As of Q2 2026.

Ownership and share class structure

The Rejler family has been the long-term owner of Rejlers since the company was founded by Gunnar Rejler in 1942 and is today represented by Peter Rejler as the Chairman of Rejlers. Stiftelsen Multiconsult has been a long-term owner of Multiconsult since its establishment in 1974, with the purpose of supporting the company’s independence, continuity, enhancing employee influence and long-term development. The Merger is considered consistent with the purpose of Stiftelsen Multiconsult. Multiconsult Rejlers will have both the Rejler family and Stiftelsen Multiconsult as committed long-term shareholders.

Multiconsult Rejlers will maintain Rejlers’ current share class structure with class A and class B shares. The class B shares of Rejlers are listed on Nasdaq Stockholm and each class B share has one (1) vote. The class A shares of Rejlers are unlisted and each class A share has ten (10) votes. Stiftelsen Multiconsult and Peter Rejler have entered into a shareholders’ agreement (the "Shareholders’ Agreement") regarding their shareholding in the Combined Group. The Shareholders’ Agreement covers, among other things, board representation and mutual consent requirements relating to certain material matters. For further details, see "Agreements between major shareholders" below.

Stiftelsen Multiconsult, Peter Rejler and Jangunnar AB (“Jangunnar”), a company owned by Peter Rejler and his two siblings, have entered into an ancillary transaction agreement pursuant to which Stiftelsen Multiconsult, after completion of the Merger, shall exchange 555,250 of its class B shares received as merger consideration for 277,625 of Jangunnar’s class A shares at a ratio of two class B shares for every class A share (the "Share Exchange"). The Share Exchange increases the votes of Stiftelsen Multiconsult in the Combined Group, ensuring that the Merger is aligned with the purpose and articles of association of Stiftelsen Multiconsult. As a result, Stiftelsen Multiconsult is expected to hold approximately 11% of the share capital and approximately 12% of the voting rights post-Merger, whereas the Rejler family is expected to hold approximately 8% of the share capital and approximately 25% of the voting rights.

In addition, Peter Rejler and Jangunnar have agreed to offer Stiftelsen Multiconsult the right to acquire their class A shares in exchange for class B shares at a ratio of two class B shares for every class A share before disposing of their respective class A shares and Stiftelsen Multiconsult has granted Peter Rejler a corresponding right in respect of Stiftelsen Multiconsult’s class A shares.

Board composition and nomination committee

Proposals regarding the composition of the Board of Directors of Multiconsult Rejlers and the remuneration of the directors will be prepared jointly by the nomination committees of both companies and submitted for resolution by the general meeting of Rejlers. It is the intention that Arnor Jensen, Chair of the Board of Stiftelsen Multiconsult, will chair the nomination committee of the Combined Group up to its first annual general meeting in 2027. Multiconsult and Rejlers will comply with the rules for arranging employee participation in connection with a cross-border merger, which includes employee representatives on the Board of Directors.

Merger Plan, structure and consideration

The Board of Directors of Multiconsult and Rejlers have adopted the Merger Plan for the combination of the companies. The Merger will be implemented through a cross-border merger. Rejlers will be the surviving company and Multiconsult will be the transferring company. The following indicative timeline has been agreed for the Merger as part of the Merger Plan:

The shareholders recorded in Multiconsult’s share register on the date on which the Swedish Companies Registration Office registers the Merger will be entitled to receive merger consideration. Multiconsult shareholders will receive 0.9725 newly issued Rejlers class B shares for every 1 Multiconsult share. The exchange ratio consequently results in 54% ownership for Multiconsult shareholders and 46% for Rejlers shareholders. The exchange ratio is close to the 45-day volume-weighted average share price for each respective share ending on 2 September 2026 as well as the currency exchange rate on 2 September 2026.

The exchange of shares represents a premium of 1.7% and a discount of 2.0% towards the last closing price on 4 September for Multiconsult and Rejlers, respectively.

The new Rejlers class B shares will rank pari passu with the existing Rejlers class B shares and will carry full shareholder rights from registration and entry in the share register maintained by Euroclear Sweden AB.

Only whole Rejlers class B shares will be delivered. Fractional entitlements will be aggregated and the corresponding whole shares sold on Nasdaq Stockholm and/or Euronext Oslo Børs. Net proceeds will be paid pro rata to the entitled holders. Settlement is expected to be done automatically through Euronext Securities Oslo and Euroclear Sweden AB.

Shareholder approvals, board recommendations and voting undertakings

Multiconsult and Rejlers will call for extraordinary general meetings to vote on the Merger Plan, expected to be held on 19 October 2026. 2/3 approval is required in both companies in terms of both share capital and votes.

The Boards of Directors of Rejlers and Multiconsult each consider the proposed exchange ratio to be fair from a financial perspective for its respective shareholders and recommend that their respective shareholders vote in favour.

Stiftelsen Multiconsult, management, members of the Board of Directors and other large shareholders in respect of Multiconsult, and Peter Rejler, Jangunnar, Lisa Rejler, Martina Rejler, Lauri Valkonen, members of the Board of Directors, Viktor Svensson and Anna Jennehov in respect of Rejlers, have undertaken to vote in favour of the Merger Plan, representing 37% of the share capital and votes in Multiconsult and approximately 18% of the share capital and approximately 51% of the votes in Rejlers. In addition, Nordea Fonder, Lannebo Fonder and Carnegie Fonder representing approximately 31% of the share capital and approximately 19% of the votes in Rejlers are supportive of the Merger.   

Shareholdings between Multiconsult and Rejlers

Multiconsult does not hold or control any shares in Rejlers or any other financial instruments, which give Multiconsult a financial exposure equivalent to a shareholding in Rejlers. Multiconsult has not acquired any shares in Rejlers during the last six months prior to the announcement of the Merger.

Rejlers does not hold or control any shares in Multiconsult or any other financial instruments which give Rejlers a financial exposure equivalent to a shareholding in Multiconsult. Rejlers has not acquired any shares in Multiconsult during the last six months prior to the announcement of the Merger. Multiconsult has agreed not to acquire any shares in Rejlers, and Rejlers has agreed not to acquire any shares in Multiconsult, until the completion of the Merger.

Employee programmes

Multiconsult operates an employee share purchase plan, a share ownership plan for new employees and a profit-sharing programme, all of which are settled in shares already in issue. The shares held by employees under these arrangements participate in the Merger on the same terms as all other Multiconsult shares and carry entitlement to merger consideration. Lock-in periods under the share purchase plan and the executive bonus arrangement continue to apply to the corresponding Rejlers class B shares received. The Boards of Directors propose that the Combined Group should establish an equivalent group-wide employee ownership programme with effect from the first ordinary cycle after completion.

Pre-merger undertakings

Rejlers and Multiconsult undertake to take all necessary actions in order to complete the Merger on the terms set out in the Merger Plan.

From the date of the Merger Plan until completion, Rejlers and Multiconsult shall carry on their respective businesses in the ordinary course of business and shall not, without the prior written consent of the other party, take any of the following actions:

1. Declare or pay any dividend or other distribution to shareholders, except that Multiconsult shall not be prevented from buy backs of own shares for the purposes mentioned in the Merger Plan;
2. Issue or create shares or other securities, except for shares issued in Multiconsult under any outstanding employee share arrangements;
3. Resolve on a share split or similar measure;
4. Acquire, sell or agree to acquire or sell material shareholdings, businesses or assets, other than customary acquisitions made in the ordinary course of each merging company’s acquisition strategy and not exceeding a total purchase price of SEK 150 million;
5. Enter into or amend material agreements or incur material additional indebtedness outside the ordinary course of operating its business;
6. Take measures aimed at negatively affecting the relative value of the merger consideration; or
7. Amend its articles of association or any other constitutional documents, except as contemplated by the Merger Plan.

If the conditions have not been satisfied and completion has not occurred on or before 30 June 2027, the Merger will not be implemented and the Merger Plan shall cease to have effect, provided that this applies only where the non-satisfaction is of material importance. The Boards may jointly waive conditions in whole or in part, to the extent permitted by law.

The parties have agreed that the 2026 cycle of Multiconsult’s employee share purchase plan and share ownership plan will be carried out before completion.

Other conditions for the Merger

In addition to shareholder approvals, completion of the Merger is conditional upon satisfaction or, where legally permissible, waiver of the customary closing conditions, including the following:

• Receipt of the required confirmations from the Swedish Companies Registration Office and the Norwegian Register of Business Enterprises
• Receipt of required antitrust and other regulatory clearances
• Admission to trading of the merger consideration shares on Nasdaq Stockholm
• Admission to trading of the Rejlers class B shares on Euronext Oslo Børs
• Approval and passporting of a prospectus, to the extent required
• The Merger not being prevented or materially impeded by law, court rulings, authority decisions or similar circumstances
• No information which is materially inaccurate, incomplete or misleading
• No material adverse change having occurred in respect of either company
• No material breach by either company of its pre-merger undertakings

Due diligence

In connection with the preparations for the Merger, Multiconsult and Rejlers have conducted limited, customary and mutual due diligence reviews of certain business, financial and legal information relating to Multiconsult and Rejlers, respectively. During the due diligence reviews, no information that had not previously been disclosed and that would constitute inside information in Multiconsult or Rejlers was shared.

Regulatory process

The Merger is expected to require merger control clearances, including from the Norwegian Competition Authority, the Swedish Competition Authority and the Polish Office of Competition and Consumer Protection. To the extent applicable, the Merger is also subject to clearance, or confirmation that clearance is not required, under applicable foreign direct investment screening regulations, including under the Swedish Screening of Foreign Direct Investments Act (Sw. lagen (2023:560) om granskning av utländska direktinvesteringar) by the Swedish Inspectorate of Strategic Products (Sw. Inspektionen för strategiska produkter).

The required clearances must be obtained on terms containing no remedies, conditions or undertakings which, in the opinion of the Boards of Directors, acting in good faith, would have a material adverse effect on the business, competitive or financial position of the Combined Group following completion.

Multiconsult and Rejlers have initiated the work on the relevant regulatory filings and expect the required clearances to be obtained in time to permit completion of the Merger in late 2026 or early 2027. The companies will provide further information regarding the regulatory process and timetable when available.

Agreements between major shareholders

In connection with the Merger, Peter Rejler and Stiftelsen Multiconsult (each a “Party”, jointly the “Parties’”) have entered into the Shareholders’ Agreement in respect of their shareholding in the Combined Group.

The Shareholders’ Agreement covers board representation, with the board of the Combined Group to consist of at least five (5) shareholder-elected members, expected to be complemented by up to three (3) employee representatives, and each Party is entitled to nominate one (1) member, provided that the Parties’ nominees may at no time constitute a majority of the shareholder-elected members; and a mutual consent requirement in respect of (a) changing the Combined Group’s name, (b) selling or transferring a material part of the Combined Group, (c) delisting the class B shares from Nasdaq Stockholm or Euronext Oslo Børs, and (d) issuing new class A shares, other than rights issues in which each Party may subscribe pro rata to its existing holding of class A shares. The consent requirement constitutes a coordination undertaking between the Parties and does not confer any veto right or ability to force through resolutions in the Combined Group. The Shareholders’ Agreement further covers transfer restrictions, and remedies for material breach.

In addition to the Shareholders’ Agreement, Peter Rejler, Stiftelsen Multiconsult and Jangunnar have entered into agreements to effectuate the Share Exchange in connection with completion of the Merger, as well as first offer rights in connection with a subsequent transfer of class A shares following the Share Exchange (as further described under “Ownership and share class structure” above).

The Swedish Securities Council (Sw. Aktiemarknadsnämnden) has confirmed that the entry into the Shareholders’ Agreement does not cause Peter Rejler and Stiftelsen Multiconsult to be regarded as closely related parties under the Swedish Takeover Act (Sw. lagen (2006:451) om offentliga uppköpserbjudanden på aktiemarknaden), and therefore does not trigger any mandatory bid obligation if their aggregate (but not individual) holdings in the Combined Group following the Merger reach or exceed three tenths of the votes in the Combined Group. The Swedish Securities Council also ruled that the arrangements between Jangunnar and Stiftelsen Multiconsult does not establish a closely related party relationship between Jangunnar and Stiftelsen Multiconsult. For further information, reference is made to the statement from the Swedish Securities Council dated 3 September 2026 (AMN 2026-:44).

Investor presentation

A virtual investor presentation (the “Investor Presentation”) will be arranged today at 10:00 CEST. Viktor Svensson (President and CEO of Rejlers), Kristin O. Augestad (Interim CEO of Multiconsult), Anna Jennehov (CFO of Rejlers), Rikard Appelgren (Chairman of Multiconsult) and Peter Rejler (Chairman of Rejlers) will be present.

It will be possible to view the presentation via the link https://edge.media-server.com/mmc/p/5fdh5qis . If you would like to ask questions, please join the conference call via phone through the link https://register-conf.media-server.com/register/BI332f978ce85c499ba958e51bff08c556 . The links are also available on each company’s website. 

Available documents

Copies of the Merger Plan, together with its appendices and the auditor statements, are available from, and may be obtained free of charge from the companies. The documents will also be available on the companies’ websites together with the materials from the Investor Presentation: www.rejlers.com and www.multiconsultgroup.com .

Financial calendar

The financial calendar of Rejlers will be adjusted to that of Multiconsult. Hence, Rejlers’ Q3 report will be published on 3 November 2026.

Advisors

DNB Carnegie, a part of DNB Bank ASA, is acting as financial advisor to Multiconsult. Advokatfirmaet Wiersholm AS is acting as Norwegian legal advisor and Advokatfirman Mannheimer Swartling is acting as Swedish legal advisor to Multiconsult in connection with the Merger.

Handelsbanken is acting as financial advisor to Rejlers. Setterwalls Advokatbyrå is acting as Swedish legal advisor to Rejlers in connection with the Merger and Advokatfirmaet Haavind AS is acting as Norwegian legal advisor to Rejlers on Norwegian competition law matters.

Pareto Securities AS is acting as financial advisor to Stiftelsen Multiconsult. Wikborg Rein Advokatfirma AS is acting as legal advisor to Stiftelsen Multiconsult.

Our Core

Driven by the urgency of the climate crisis, our clients are choosing partners who can support their sustainable transformation. Taking responsibility for our world is in Rejlers’ DNA. Through smart engineering solutions and sustainable choices, we help ensure a sustainable tomorrow.

Article 3.9.2026

interview with Nadia Zamarron, Tender Manager, Rejlers Norway

In your role as Tender Manager, what changes are you seeing in clients’ priorities?

I work across many of Rejlers’ departments and countries to understand client requirements. While reducing project costs was usually the main concern, reducing climate impact is now clearly a top priority.

The climate crisis is no longer a future scenario. It is already impacting biodiversity, infrastructure and resource availability. Organisations can no longer ignore these risks, for their own long-term viability or for society.

How are sustainability requirements affecting public procurement in Norway?

Sustainability regulations are also tightening. In Norway, public procurement rules now require that environmental factors account for at least 30 percent of the evaluation criteria in tender assessments. This makes environmental impact a substantial and clearly measured part of procurement decisions.

Norway invests a huge amount in public projects, and the public sector is one of our main clients. Our clients want partners who can help them achieve their sustainability goals.

How can Rejlers help clients achieve those goals?

At Rejlers, we do this by sharing insights across the industries we work in and by proposing smart engineering solutions early in a project, sometimes reducing energy and material use by half.

Sustainability is part of Rejlers’ identity. We live it every day, in everything we do. For example, in Norway we are increasing the share of electric vehicles in our car fleet and holding digital meetings whenever possible. In Oslo, Rejlers Norway has also moved into a BREEAM-certified office – one of the world’s leading sustainable building standards. And across the organisation, we are working towards net-zero emissions.

What does Rejlers’ EcoVadis Gold rating mean from a client perspective?

Rejlers’ sustainability efforts have been recognised this year with an EcoVadis Gold rating. In Norway, an EcoVadis rating is increasingly a prerequisite for public procurement tenders. But our Gold rating also gives us a competitive edge, demonstrating that we have strong policies, processes and systems in areas such as environmental responsibility and ethics, verified by a third party.

This confirmation of our sustainability actions is highly sought after by today’s clients.

Finally, what responsibility do you think engineers and advisors have in the sustainability transition?

At Rejlers, we all believe that we have a big responsibility. As engineers and advisors, everything we do has an impact – on nature and on people. That’s why we are ensuring that our choices help shape tomorrow’s sustainable world.

Learn more in our Annual and Sustainability Report

Rejlers has been commissioned by the Municipality of Söderhamn to carry out a feasibility study on a possible energy hub in Vallvik. The study will show how small modular reactors, offshore wind power, hydrogen production and existing industry can be linked together into a functioning energy system.

Press release 28.8.2026

Rejlers' assignment is to produce a comprehensive basis for decision-making for a possible energy symbiosis in Vallvik. The feasibility study includes, among other things, location analyses for small modular reactors (SMRs), onshore connection of offshore wind power, hydrogen production and integration with existing industry. The work also includes analyses of land use, environmental impact, transport, risk and safety. Rejlers will identify critical factors for the feasibility of the establishment and recommend possible choices and measures.

The need for fossil-free electricity is increasing at the same time as the industry's transition is creating demand for both energy and hydrogen. In parallel, new electricity production needs to be able to be integrated with electricity grids, industry and local infrastructure. An energy hub in Vallvik could gather several of these functions in the same place. The feasibility study will show what is technically, environmentally and socio-economically possible and provide Söderhamn Municipality with a basis for decisions that may have an impact on future industrial establishments, jobs and energy supply in the region.

Rejlers contributes with expertise from several parts of the business and also collaborates with the subsidiaries Solvina and Risk Pilot. The assignment includes expertise in energy systems, nuclear technology and safety, permits and the environment, hydrogen, process integration, logistics and transport.

“The municipality is now taking the initiative for structured work for the area. By clarifying the conditions for energy supply, energy-intensive operations, infrastructure, land use and permit processes at an early stage, we want to shorten lead times and create good conditions for future investments. In the collaboration with Rejlers, we gain access to the breadth and system understanding required to see how these issues are connected and to be able to take the work forward in a well-thought-out way”, says Marianne Johansson, coordinator for energy development at Söderhamn Municipality.

“The interesting thing about Vallvik is how several types of energy can work together. When nuclear power, wind power, hydrogen, electricity grids and industry meet, dependencies arise that must be managed already in the early choices. Our task is to help the municipality understand the big picture and make decisions that work in the next step as well. We also see great potential in the area for other players with energy-intensive operations”, says Claes Böös, Strategic Business Developer, Connected Energy at Rejlers.

Our Core

Recruiting and retaining highly skilled employees is key to delivering long-term value for clients. Rejlers fosters an inspiring environment by championing diversity and inclusion, wellbeing, a proud mindset and continuous development. At Rejlers, everyone is empowered to grow.

Article 25.8.2026

We spoke with Ilmari Valtanen, Head of Procurement at Rejlers Finland, about growth, diversity and what makes Rejlers an inspiring place to build a career.

What made you choose Rejlers?

I joined Rejlers three years ago because I wanted to grow with the company. Rejlers has an exciting growth strategy where everyone can clearly play a meaningful role. At the same time, there is a culture where people feel valued, can continuously develop and contribute to shared success.

How does the culture at Rejlers support your work and your clients?

My team provides procurement consulting to our clients. We are twenty people with broad backgrounds and experience – we are not cut from the same mould. This gives us a breadth of knowledge, perspectives and ideas that directly benefits our clients. There is always someone to turn to for the right insight.

The culture across Rejlers is open and collaborative. With a flat hierarchy, it is easy to reach out, exchange ideas and get support. That also makes internal networking and collaboration across the organisation easier.

What role do diversity and inclusion play?

Diversity and inclusion are important parts of the Rejlers culture. Our progress is regularly measured through an inclusion index, which also signals the importance management places on these areas. The culture index provides another way of following how we develop and maintain a strong corporate culture.

What makes Rejlers an attractive place to work?

Many things, the focus on wellbeing is an important part. Rejlers provides subsidised gym membership, organised sports activities and occupational healthcare insurance, which even covers my ice hockey hobby. Here in Tampere in Finland, we have activities such as Pilates and tennis. These initiatives support work-life balance, mental wellbeing and refreshed minds.

As a team leader, how do you help people grow?

I know how important it is to talk to my people, understand their ambitions and help them reach their potential. Although Rejlers is a relatively large company, we are agile enough to offer development and growth opportunities across the organisation.

As the Home of the Learning Minds, Rejlers encourages people to think differently, challenge assumptions and suggest new solutions. We are empowered to think outside the box. That makes Rejlers a motivating company to work for – especially when we can see how our own development and expertise ultimately lead to better outcomes for our clients.

Read more in Rejlers Annual Report

Join Home of the Learning Minds

Work with us

Do you want to work on some of society’s most important challenges for the future? At Rejlers, you’ll have the opportunity to develop energy systems, transform industries and future-proof communities together with knowledgeable colleagues.

A career at Rejlers

Our Core

Understanding our clients and anticipating their future needs is key to creating long-term value. At Rejlers, this means moving beyond delivering services to becoming a strategic partner, combining close client relationships with expertise across industries and disciplines.

Article 17.8.2026

We spoke with Andreas Johansson, Head of Sales and Client Relations, Industry Division, Rejlers Sweden, about what it means to be a client-led company, how we build partnerships that last and why understanding what comes next is just as important as understanding what clients need today.

How does Rejlers approach client management and build long-term relationships?

When you focus on something, it tends to grow. At Rejlers, we apply this principle every day in our client management. We have been collaborating with some of our clients, such as LKAB and Vattenfall, for decades. We achieve long-term relationships through engagement at all levels, from CEO level dialogues to daily discussions between our dedicated client account managers and our clients’ project managers. Our client teams are further supported by internal steering committees that ensure ongoing, successful collaboration.

Of course, we also work with new clients, such as Viscaria, a scale-up company reopening a copper mine in northern Sweden. And for both long-standing and new clients, we have shifted from being a service-led organisation – offering existing skills and solutions – to becoming a client-led company. This means we proactively work to understand emerging needs and develop our capabilities accordingly to ensure long-term value.

How does Rejlers’ broad expertise help meet clients’ evolving needs?

We do this in part by leveraging our extensive cross-sector expertise and through client teams that consist of experts from multiple disciplines. These strengths allow us to transfer innovations between industries, identifying and applying, for example, insights from pulp and paper or chemicals and refineries to mining and metals.

This breadth also enables us to spot emerging societal trends, such as the growing attention on resilience and defence, which is highly relevant for all our energy, industry and infrastructure clients.

We also apply our deep expertise and draw on tools, such as the Rejlers Sustainalyzer, to enable our clients’ progress towards a sustainable future. With our structured approach to client management, we focus on individual client requirements while gaining insight into the future needs of entire sectors. This enables us to work together with our clients to unlock potential, create long-term value and drive sustainability and growth.

Read more in Rejlers Annual Report

Get in touch

How can we help?

Andreas Johansson Head of Sales and Client Relations

Send email: Andreas Johansson [+46 703419293 Call: + 4 6 7 0 3 4 1 9 2 9 3](tel:+46 703419293) Sweden

How Rejlers support clients

By focussing on our clients’ long-term requirements, Rejlers acts as a true strategic partner. We build and maintain long-term relationships through a structured, strategic approach to client management – driving profitability and progress towards a sustainable future together.

Rejlers advances mining industry transformation in northern Sweden

Rejlers expands cooperation with LKAB

Rejlers has been awarded a Gold Medal by EcoVadis, placing the company among the top 5% of companies assessed globally. Rejlers achieved an overall score of 87 out of 100, improving from 84 points in the previous assessment and demonstrating continued progress in the company’s systematic sustainability work.   

Press release 14.8.2026

EcoVadis is a leading independent evaluator of corporate sustainability, assessing companies across 21 criteria in four key areas: Environment, Labour & Human Rights, Ethics, and Sustainable Procurement. Its methodology is based on globally recognised standards, including the UN Global Compact’s Ten Principles, the International Labour Organization (ILO) conventions, the Global Reporting Initiative (GRI) and the ISO 26000 standard.

“Improving our score from 84 to 87 is a strong acknowledgement of the progress we continue to make. Sustainability is an integral part of our strategy and of how we operate as a company. This result reflects the commitment across Rejlers to continuously raise our ambitions and create long-term value for our clients and society,” says Viktor Svensson, President and CEO of Rejlers.

EcoVadis medals are based on a company’s percentile ranking among all companies assessed during the previous 12 months. Rejlers’ Gold Medal recognises the company as being among the top 5% globally and reflects the quality of its sustainability management system and commitment to transparency throughout the value chain.

The improved score reinforces Rejlers’ commitment to responsible business practices and continuous development. By integrating sustainability into its operations and client offering, Rejlers aims to act as a catalyst for its customers’ sustainable transformation.

Link to recognition page: Ecovadis Gold Medal | REJLERS AB

Regulatory press release 15.7.2026

April – June

• Net sales increased by 9.4% to SEK 1,313.6 million (1,200.4)
• Organic sales growth, excluding exchange rate effects, amounted to 1.5% (5.7)
• EBITA increased to SEK 82.1 million (81.6) and the EBITA margin amounted to 6.3% (6.8)
• EBITA is negatively impacted by SEK 6 million due to an extraordinary recruitment of around 125 employees in Division Buildings in Sweden
• Operating profit (EBIT) amounted to SEK 53.8 million (61.3), impacted by acquisition expenses of SEK –6.8 million (–4.0)
• Net financial items amounted to SEK –9.9 million (–12.3)
• Net profit after tax amounted to SEK 34.6 million (39.2)
• Earnings per share before dilution amounted to SEK 1.21 (1.74) and after dilution to SEK 1.21 (1.74)

January – June

• Net sales increased by 6.4% to SEK 2,555.2 million (2,401.7)
• Organic sales growth, excluding exchange rate effects, amounted to 1.0% (7.2)
• EBITA amounted to SEK 173.4 million (184.1) and the EBITA margin amounted to 6.8% (7.7)
• EBITA is negatively impacted by SEK 18 million due to an extraordinary recruitment of around 125 employees in Division Buildings in Sweden
• Operating profit (EBIT) amounted to SEK 123.7 million (148.2), impacted by acquisition expenses of SEK –9.5 million (–4.0)
• Net financial items amounted to SEK –22.6 million (–16.6)
• Net profit after tax amounted to SEK 86.0 million (104.6)
• Earnings per share before dilution amounted to SEK 3.41 (4.63) and after dilution to SEK 3.41 (4.63)

Statement by the President and CEO 

“We have a clear strategy and continue to strengthen our position in our markets. With a compelling offering, highly skilled employees and a clear acquisition agenda, we look to the future with confidence as we continue our growth journey,” says Viktor Svensson, President and CEO of Rejlers AB.

Rejlers has been selected as construction management consultant in the Finnish Transport Infrastructure Agency’s extensive Digirail project, a key initiative in the digitalisation of Finland’s rail transport. The project aims to modernise Finland’s train control system and improve the efficiency, safety and reliability of rail traffic.

Press release 28.5.2026

Finland is making significant long-term investments to future-proof its transport infrastructure. By enabling a more efficient, reliable and sustainable railway system, the Digirail project supports the transition to a more resilient and sustainable society.

The assignment covers three railway sections in Finland, totalling approximately 970 kilometres of track, and the agreement is expected to run until 2034.

The Finnish Transport Infrastructure Agency has concluded a service alliance agreement covering the planning, construction management and commissioning inspection services for the renewal of the train control system. The alliance brings together the Finnish Transport Infrastructure Agency and a group of key partners: Rejlers, Welado, Ramboll CM, Sweco, WSP and Ramboll Finland. The implementation model is unique in Finland and Europe.

“We are very pleased with the outcome of the service alliance procurement. We have gained an excellent team to support us in taking the Digirail project a step closer to broader implementation. The service alliance is an entirely new concept, designed to bring all key parties involved in delivery – planning, construction management, and commissioning – to the same side of the table and to combine their expertise for the benefit of the project and the Finnish rail network,” says Esa Sirkiä, Department Director at the Finnish Transport Infrastructure Agency.

Within the alliance, Rejlers’ responsibilities include project management and construction management, procurement and tendering, supervision of implementation, and design management. The scope also includes safety coordination and building information modelling, BIM.

“We contribute with our strong expertise in construction management and railway signalling systems in an important assignment for Finland’s future rail infrastructure. The alliance model creates good conditions for efficient delivery, where construction, design and commissioning inspections are coordinated in a way that strengthens the project as a whole,” says Mikko Vaahersalo, CEO of Rejlers Finland.

The European Rail Traffic Management System, ERTMS, is a European train control and signalling system designed to improve safety and interoperability between countries. In Finland, ERTMS will gradually replace the current train control system as part of the Digirail project, with the aim of full implementation by 2040.