Inin Group AS — Capital/Financing Update 2021

Oct 20, 2021

Elop AS: No subsequent offering

Elop AS: No subsequent offering

Reference is made to the stock exchange announcement published by Elop AS ("Elop" or the "Company") on 1 October 2021 entitled “Elop AS: PRIVATE PLACEMENT SUCCESSFULLY PLACED. All capitalised terms used but not defined in this stock exchange announcement are references to those terms as defined in the 1 October 2021 stock exchange announcement.

The Company’s shares have after the completion of the Private Placement traded below the Offer Price. Traded volumes in the period following the Private Placement have been sufficient enough for shareholders who did not participate in the Private Placement to acquire shares in the market and counteract dilutive effects from the Private Placement. Hence, the Board has resolved that no subsequent repair offering will be made.

For further information, please contact:

Media

Øivind Horpestad, Executive Chairman of Elop, tel: +47 910 00 626

Investors

Kim Boman, CFO of Elop, tel: +47 959 63 912

About Elop

Elop is a Norwegian holding company with two operating subsidiaries. Elop Technology develops tools and digital solutions to inspect, monitor and manage infrastructure worldwide using patented ultrasound technology. Through data-driven and AI-based solutions for inspection and predictive maintenance of concrete infrastructure, the vision is to provide asset owners with solutions that improve safety, extend asset lifetime, minimise total lifecycle cost and environmental footprint. Simplifai offers automation solutions using artificial intelligence.