22 March 2024 - ININ Group's subsidiary Nordic Infrastructure Group AS has today
signed the share purchase agreement to acquire 100 percent of the shares in
Norwegian railway contractor SLAM Jernbaneteknikk AS.

Reference is made to the stock exchange announcement dated 4 July 2023 regarding
the acquisition, which will reinforce Nordic Infrastructure Group's already
strong position in the Norwegian market within construction, maintenance and
other specialist services to the railway industry. SLAM Jernbaneteknikk becomes
part of ININ Group's Rail Infrastructure investment platform, which is headed up
by Nordic Infrastructure Group.

SLAM Jernbaneteknikk is a provider of high / low voltage and signalling services
within the construction, maintenance, troubleshooting and control of railway
technical systems. The company also provides safety-related work for railways.

SLAM Jernbaneteknikk is headquartered at Roverud in Kongsvinger municipality,
Innlandet county, Norway. In 2023, the company generated revenue of
approximately NOK 36 million and EBIT of approximately NOK 6.7 million. The
company has 20+ employees.

"There is a substantial and growing demand for signalling technicians and
specialist signalling competence. SLAM Jernbaneteknikk offers exactly this. By
becoming part of Nordic Infrastructure Group, we are becoming the leading player
within this field in Norway," says Gjermund Sogn, CEO of Nordic Infrastructure
Group.  

SLAM Jernbaneteknikk is valued at approximately NOK 31.3 million in the
transaction, which will be settled 65 percent in Nordic Infrastructure Group
shares and 35 percent in cash, paid in three tranches. 
Closing of the transaction is expected by the end of March 2024. 

(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 aims to 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