Inin Group AS — Share Issue/Capital Change 2021

Aug 13, 2021

Elop AS – Completion of internal reorganisation: Demerger and merger between ELOP NewCo AS and ELOP Technology AS

Elop AS – Completion of internal reorganisation: Demerger and merger between ELOP NewCo AS and ELOP Technology AS

Reference is made to the stock exchange notice by Elop AS (the "Company") on 14 May 2021 regarding the contemplated internal reorganisation of the Company, including (i) a demerger of the Company by a transfer of certain assets, rights and obligations to a new wholly-owned subsidiary, ELOP NewCo AS, and (ii) a merger between ELOP NewCo AS and the Company's wholly-owned subsidiary, ELOP Technology AS (as the acquiring entity), whereby ELOP NewCo AS will transfer all of its assets, rights and obligations to ELOP Technology AS.

The purpose of the internal reorganisation is to make the Company a holding company for the group, with Simplifai AS and Elop Technology AS as its operating subsidiaries.

The demerger and the merger were approved by the Company's extraordinary general meeting on 4 June 2021 (the "EGM"). As part of the internal reorganisation, the EGM also approved a share capital decrease from NOK 4 650 190.75 to NOK 1 823 950.33806342000, by reducing the par value of each share from NOK 0.05 to NOK 0.01961156473, and a subsequent share capital increase from NOK 1 823 950.33806342000 to NOK 4 650 190.75, by increasing the par value of each share from NOK 0.01961156473 to NOK 0.05. Consequently, the Company's share capital is not affected by the internal reorganisation:

Share capital: NOK 4 650 190.75

Total number of shares: 93 003 815

Par value of each share: NOK 0.05

Prior to the opening of trading hours on Euronext Growth today, completion of the demerger, the merger, including the share capital decrease and the share capital increase, were registered with the Norwegian Register of Business Enterprises.

This information is subject to the disclosure requirements pursuant to the Euronext Growth Rule Book part II and Section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

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

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

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, chat or documents are central.