Today, NRC Group provides an update on strategy, operations, markets, financial
development and outlook, including new financial targets and ambitions.

NRC Group's updated strategic priorities are:

  · Capitalise on a leading Nordic position
  · Continue to improve core processes to increase profitability
  · Drive profitable growth through increased revenue from large projects and
potential bolt-on M&A
  · Implement best practice across the Nordics to increase competitiveness
  · Leverage sustainability as a competitive edge

Updated targets and ambitions:

  · Medium-term target of 4-5% EBITA* margin in 2024-2025 period, above 5%
growth p.a. over the cycle plus bolt-on M&A
  · Long-term ambition of 5-7% EBITA* margin, above 5% growth p.a. over the
cycle plus bolt-on M&A
  · Resume dividend distribution
  · 30% CO2 emission reduction in 2025 vs. 2021 (scope 1+2)

NRC Group was created to capitalise on strong Nordic infrastructure markets.
Following a consolidation phase with strong organic and M&A driven growth, which
culminated with reduced profitability, the company entered a transformation
phase focused on the integration of acquired companies and operational
improvements. This has led to more robust processes for project selection,
tendering and execution and a strengthened organisation which position NRC Group
for future profitable growth.

"It is time to shift focus from transformation to profitable growth and to
harvest the benefits of our unique Nordic position to succeed as a leader in
sustainable infrastructure. The second quarter was the fifth consecutive quarter
with improved financial performance, showing that our turnaround program is
yielding results ", said Henning Olsen, the CEO of NRC Group. "We will continue
to focus on profitability and core processes in tendering and project execution.
Going forward, we will also capitalise on our leading position in the Nordics,
by utilising competence and capacity across borders."

NRC Group has over the past two years focused on attracting and retaining the
right leadership, project managers and a skilled workforce. The Group has
strengthened project selection and tender processes, the execution model and
portfolio governance. This is reflected in a 2.8% EBITA* margin measured over
the last 12 months (LTM) per second quarter of 2022, compared to 0.9% in 2019.
Order intake and order backlog are at record levels, supporting future revenue
growth. For 2022, we expect a continued positive operational and financial
development with moderate to strong revenue growth and moderate increase in
EBITA* margin compared to 2021.

Long-term outlook

Based on the updated strategy, NRC Group targets an EBITA* margin of 4-5% in the
2024-2025 period. The long-term ambition is to increase the EBITA* margin to 5
-7%. Growth is expected to exceed 5% per year over the cycle in addition to bolt
-on M&A. These targets and ambitions compare to the previously communicated 2024
ambition of NOK 10 billion of revenue at 7% EBITA margin.

"Going forward, our strategic focus will be margin improvement, profitable
growth and increased competitiveness, which all are tightly connected. It is the
same direction we pointed towards back in 2020, but we are shifting more of our
focus towards profitable growth. Growth is important to develop the
organisation, to enable us to take on bigger and more complex projects and to
attain economies of scale.  However, we will not sacrifice margins to growth,"
Henning Olsen continues.

In addition to continuous improvement of core processes, NRC Group targets
increased revenue from larger and more complex projects by leveraging cross
-country resources and capabilities and by sharing and implementing best
practice across the Nordic region. This includes further strengthening the
Group's sustainability position and performance as a builder of sustainable
infrastructure. In the first half of 2022, 88% of the Group's activities were
defined as eligible and 69% aligned according to the EU Taxonomy. The Group is
also considering bolt-on M&A to optimise the value chain.

A combination of improved profitability, working capital management and focus on
a lean asset base has contributed to strengthen NRC Group's financial position.
The goal is to return free cash to equity owners through the resumption of
dividends in line with the policy distributing a minimum 30% of net profit.

Capital markets update and second quarter 2022 presentation today at 10:00 am
(CEST)

CEO Henning Olsen, CFO Ole Anton Gulsvik and the Managing Directors for Norway,
Sweden and Finland will host the combined second quarter 2022 and the CMU
presentation at House of Oslo, Ruseløkkveien 34, Oslo. The event is expected to
last approximately two hours, including Q&A. The presentations will be given in
English.

The presentation will also be broadcasted as a webcast on the following link:

https://channel.royalcast.com/landingpage/hegnarmedia/20220818_8/

The financial report and presentation are available under the company's ticker
"NRC" on www.newsweb.no and on the company's homepage: www.nrcgroup.com

For further information, please contact:

Henning Olsen, CEO of NRC Group, + 47 91 74 15 92.
Ole Anton Gulsvik, CFO of NRC Group, +47 99 56 85 20

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Cecilie Blaauw Cock, Marketing
& Communication at NRC Group ASA, on 18 August 2022.

*Before other income and expenses (M&A expenses)