30 October 2023 - Inin Group AS has today completed the acquisition of 100
percent of the shares in Laje AS, a large regional infrastructure construction
and service company in Norway. Laje will head up Inin Group's Power
Infrastructure investment platform. 

Reference is made to the stock exchange announcement dated 2 August 2023
regarding Inin Group signing the share purchase agreement to acquire Laje. 

Laje is a focused infrastructure construction and service company within the
energy infrastructure, telecom and electrification sector. The company is
headquartered at Hønefoss with additional outreach from strategic locations
across central-eastern Norway. It employs 275 people with a strong mix of
electricians, energy and telecom installers and engineers. 

Laje's business is divided into three business segments: energy infrastructure,
telecom and electrification, all focusing on the ongoing electrification and
digitalization megatrends. Its broad geographical presence across
central-eastern Norway makes Laje well-positioned to serve large framework
agreements with the major grid companies in the region. 

The company has a strong backlog, including framework agreements with an annual
value of approximately NOK 490 million. Laje's 2023 revenue is expected to reach
approximately NOK 700 million.

"This is our biggest acquisition so far, and it almost doubles Inin Group's
revenues. More importantly, it makes us a major player within energy
infrastructure, telecom and electrification. These are all segments with
substantial growth potential, which we will work very hard to capitalize on,"
says Øivind Horpestad, CEO of Inin Group.
 
Inin Group's acquisition of 100 percent of the shares in Laje AS will be
financed with cash and debt. The purchase price consists of a fixed payment and
potential earn-out payments based on the realised EBITDA for 2023 and 2024. 

Laje will head up Inin Group's Power Infrastructure investment platform, which
is one of four investment platforms within the group. 

(ENDS)

For further information, please contact:

Øivind Horpestad, CEO of Inin Group, Tel: +47 910 00 626

About Inin Group AS
Inin Group is a listed investment company operating as an industrial owner with
investments in companies within infrastructure and industry services niches in
the Nordics. The group create value by identifying investment opportunities
within profitable niches with potential for development, consolidation and
growth, working in collaboration with the platform companies to deliver
sustainable growth and superior profitability. For more information, please
visit: www.inin.no