Inin Group AS — Director's Dealing 2021

May 10, 2021

ELOP AS – GRANT OF OPTIONS AND MANDATORY NOTIFICATION OF TRADE

ELOP AS – GRANT OF OPTIONS AND MANDATORY NOTIFICATION OF TRADE

The Board of Directors in Elop AS (the "Company") has resolved to grant a total of 3,600,000 options for shares in the Company (the "Options") to certain key employees of the Company and its subsidiaries, corresponding to 3.87% of the current outstanding shares in the Company.

3,000,000 of the Options are issued to the following primary insiders:

• Kim Boman, CFO: 600,000 Options

• Bård Myrstad, VP Simplifai, 600 000 Options

• Daniel Kohn, Group CCO, 600 000 Options

• Erik Leung, Group CPO, 600 000 Options

• Imran Tamboli, Group CTO, 600 000 Options

The Options will vest in three tranches, with 1/3 vesting annually, with first vesting date being 10 May 2022. The Options may be exercised at any time after vesting prior to the final expiration date on 10 November 2024. The strike price is NOK 6,30 corresponding to the share price at close of trade on 7 May 2021 with a 5% premium added. Each Option gives the right to acquire one share in the Company.

Following the issuance of the Options, the Company has 6 966 000 options outstanding.

Following this option award, the primary insiders in question have the following shareholdings in the Company:

• Kim Boman, CFO, holds 600,000 Options and no shares.

• Bård Myrstad, VP Simplifai, holds 634 521 Options and 3 981 900 shares.

• Daniel Kohn, Group CCO, holds 608 151 Options and 940 179 shares.

• Erik Leung, Group CPO, holds 634 521 Options and 3 981 900 shares.

• Imran Tamboli, Group CTO, holds 614 016 Options and 1 616 636 shares.

For further information, please contact:

CEO and Executive Chairman Øivind Horpestad, Elop AS, mobile + 47 910 00 626

Elop AS consist of the two business units Elop and Simplifai

Elop is a Norwegian technology company that has developed unique and patented ultrasound tools and digital solutions to inspect, monitor and manage infrastructure worldwide. Elop’s vision is to provide asset owners with solutions that improve safety, extend asset lifetime, minimise total lifecycle cost and environmental footprint.

Simplifai operates as a stand-alone business where it develops automation solutions using artificial intelligence to help clients across numerous industry sectors to grow efficiently. For example, Simplifai’s Digital Employee solutions can automate labour intensive work process where natural language communication including email, chat or documents are central. This includes customer relations, case handling, HR and accounting. It also supports Elop with developing their data-driven and AI-based solutions for inspection and monitoring of critical infrastructure.

Elop is headquartered in Norway. For more information: www.elop.no and www.simplifai.ai