Reference is made to the stock exchange announcements dated 25 August 2022, 12
September 2022 and 20 September 2022 in respect of Elop AS' ("Elop") acquisition
of Nordic Infrastructure Group AS ("NI Group") and Hadeland Elektro AS
("Hadeland Elektro") and the procedure for settlement of the consideration as
set out therein. 

Elop has settled parts of the consideration by sale of treasury shares and
issuance of new shares as follows: 

o Sale of 13,507,552 treasury shares to certain sellers of NI Group on 20
September 2022. 
o Issuance of 3,432,563 new shares to certain sellers of NI Group which was
registered with the Norwegian Register of Business Enterprises (Nw.
Foretaksregisteret) on 20 September 2022. 
o Issuance of 3,230,504 new shares to the sellers of Hadeland Elektro which was
registered with the Norwegian Register of Business Enterprises on 23 September
2022.
o Issuance of 5,646,703 new shares to certain sellers of NI Group which was
registered with the Norwegian Register of Business Enterprises on 26 September
2022.

Following the above shares issues, Elop's new share capital is NOK 6,515,679.25,
divided into 130,313,585 shares, each with a par value of NOK 0.05

The remaining consideration in respect of the acquisition of NI Group has, for
practical reasons, not yet been settled, but Elop will, as contemplated by the
above stock exchange announcements, settle such consideration by sale of
treasury shares and/or issuance of new shares as soon as practically possible. 

Contact information: 
Øivind Horpestad, CEO, tel: +47 910 00 626