5 January 2024 - Inin Group AS and Tom Wilhelmsen Holding AS have agreed to
reverse Inin Group's acquisition of 70 percent of the shares in mass handling
and recycling company TW Gruppen AS. 

Since Inin Group took over as majority owner in October last year, operations at
the mass recycling business at Disenå in Massebalanse Norge AS have been
significantly delayed and the facility is not in full operation. This, in
combination with potential problems with the ground conditions, has caused
profitability issues and additional funding requirements.  

"The uncertainty in the operational issues related to the operations at Disenå
together with market uncertainties entail that TW Gruppen AS will require
significant contributions from Inin going forward, both in the form of capital
and management resources. Inin has limited visibility on the amount of resources
required. TW Gruppen AS is a small investment for Inin and Inin has therefore
decided that it cannot justify continued engagement in this project given the
risk-reward ratio. We have therefore agreed with Tom Wilhelmsen Holding AS to
reverse the transaction. We wish Tom Wilhelmsen the best of luck in the further
development of the project." says Øivind Horpestad, CEO of Inin Group.  

The initial settlement for the acquisition of 70 percent of TW Gruppen consisted
of NOK 23 million in Inin Group shares and NOK 5 million in cash. The Inin Group
shares that were part of the share-based settlement - 7,886,714 in total - will
be returned to Inin Group as treasury shares, while Tom Wilhelmsen Holding AS
will retain the NOK 5 million in cash as compensation for the reversal of the
transaction. All of Inin Group's direct or indirect liabilities and financing
obligations related to TW Gruppen will be taken over by Tom Wilhelmsen Holding
AS. 

In December 2023, Inin Group guided in its company update a 2023 pro-forma
EBITDA of NOK 117 million.  With the reversal of the acquisition of TW Gruppen,
the estimated pro-forma EBITDA for 2023 will be reduced by approximately NOK 1
million. As such, the reversal of the transaction will have a non-material
impact on Inin Group's 2023 results. Also, due to the significant leasing and
real estate liabilities in TW Gruppen, the liabilities in the consolidated Inin
Group balance sheet will be reduced following the reversal, and consequently the
gearing ratio and the financial metrics of Inin Group will be positively
impacted.

Following the completion of this transaction, Inin Group AS will hold 8,580,938
Inin Group shares. 


(ENDS)

For further information, please contact:
Øivind Horpestad, CEO of Inin Group, Tel: +47 910 00 626

About Inin Group AS
Inin Group AS 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 creates 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