28 May 2024 - Inin Group's subsidiary Nordic Infrastructure Group AS has agreed
to the principal terms of an agreement to acquire 100 percent of the shares in
Norway-based Trasé AS - a specialist within construction and maintenance of
public transport infrastructure.  

The planned acquisition will further strengthen Nordic Infrastructure Group's
position in the railway and tramway segments and widen its offering to also
cover public road infrastructure. 

"Nordic Infrastructure Group is already one of the leading Norwegian players
within construction, maintenance and upgrade of railway and tramway
infrastructure. To add Trasé to our portfolio of companies will further enhance
our offering and enable us to take on even larger projects together," says
Gjermund Sogn, CEO of Nordic Infrastructure Group.  

ABOUT TRASÉ AS

Trasé counts 25 employees that specialize in construction, maintenance and
upgrades of railways, tramways and road infrastructure related to public
transport. It provides services within groundwork, water and wastewater, cable
systems, concrete work and track construction. The company is headquartered at
Østerås in Bærum municipality, just outside Oslo. 

The majority of Trasé's projects are located in the greater Oslo region. The
company's largest clients include public infrastructure owners such as the
Norwegian Public Roads Administration, Oslo Municipality and municipality-owned
public transport operator Sporveien. 

"Several billion Norwegian kroner will be invested in public transport
infrastructure in the Oslo region over the next decade. With extensive
experience from trams, subways, roads and cycle paths in the region, Trasé AS is
a highly competitive and attractive supplier here," adds Gjermund Sogn. 

In 2023, Trasé delivered revenue of approximately NOK 33 million, and EBIT of
NOK 8 million. The company has delivered positive financial results every year
since its inception in 2015, and in some years delivered operating profit
margins of between 30-40 percent. Trasé entered 2024 with an order backlog of
approximately NOK 93 million.

THE POTENTIAL TRANSACTION

The potential transaction is subject to customary closing conditions,
satisfactory due diligence, and final transaction documentation. Signing of the
final share purchase agreement and closing of transaction is expected during the
2nd quarter of 2024. Details of the financial terms of the transaction will be
shared following signing of a final share purchase agreement between the
parties. 

Upon completion of the potential transaction, Trasé will become part of Nordic
Infrastructure Group, which heads up Inin Group's Rail Infrastructure investment
platform. 

(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