4. May 2022 - Elop AS (Elop) has received a cash consideration offer for the
acquisition of 100 percent of the shares in its operating subsidiary Simplifai.
The offer values Simplifai at an enterprise value of NOK 140 million and will
secure Elop the financial strength to accelerate commercialization of its
technologies and further grow the company until cash positive operations.

"We believe this is an attractive offer that accurately reflects the underlying
values in the company. As the development of Elop Technology has progressed Elop
is now less dependent on Simplifai. Securing the value through a sale of
Simplifai will greatly benefit Elop and its shareholders", says Elop board
member Kristian Lundkvist, who has represented Elop in the transaction, and
continues