Inin Group AS — Remuneration Information 2022

Apr 12, 2022

Employee Share Purchase Program

Employee Share Purchase Program

April 12, 2022: The Board of Directors of Elop AS (the "Company") has implemented a share purchase program for employees in the Company and its Norwegian and German subsidiaries (the "Employee Share Purchase Program"), on the basis of the authorization granted to the Board of Directors by the annual general meeting of the Company on 21 April 2021.

The participants in the Employee Share Purchase Program has been offered to acquire shares in the Company for an amount of between NOK 16,000 and NOK 160,000 each. The shares has been offered at a price based on the volume weighted average share price for the Company's shares on the Oslo Stock Exchange during the application period, with a discount of 20% on the aggregate investment amount. The offer price for the shares in the Employee Share Purchase Program has been set to approximately NOK 2.234 per share (the "Offer Price").

Any shares acquired in the Employee Share Purchase Program will be subject to a lock-up period of two years, and the reduced offer price shall reflect the value-reducing effect of the lock-up period.

The application period in the Employee Share Purchase Program was from 5 April 2022, at 09:00 hours (CEST) to 16:00 hours (CEST) on 12 April 2022. Shares acquired in the offer will be settled in the form of treasury shares held by the Company.

Based on the applications received in the Employee Share Purchase Program, the Company has allocated a total of 561 916 shares to the participants in the Employee Share Purchase Program.

For further information, please contact:

Kim Boman, CFO, 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. Simplifai’s Digital Employee solutions automate labour intensive work process where natural language communication including email or documents are central.