Inin Group AS — Share Issue/Capital Change 2021

Oct 13, 2021

ELOP AS: NEW SHARE CAPITAL REGISTERED

ELOP AS: NEW SHARE CAPITAL REGISTERED

Reference is made to the stock exchange announcement published on 1 October 2021 by Elop AS ("Elop" or the "Company") regarding the successful placement of a private placement raising gross proceeds of NOK 100 million (the "Private Placement") through the issuance of new shares (the "Offer Shares") in the Company at a per share subscription price of NOK 4 (the "Offer Price").

The share capital increase relating to the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 1,250,000 through issuance of 25,000,000 new shares of the Company, each with a par value of NOK 0.05.

The new registered share capital of Elop is thus NOK 5,900,190.75 divided by 118,003,815 shares, each with a par value of NOK 0.05.

END

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.

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