8. March 2023 - The board of directors of Inin Group AS has yesterday approved
structural and commercial changes that transform the company to a dedicated,
listed investment vehicle with a long-term investment horizon.

Going forward, Inin Group AS will be a fully-fledged, listed investment company
with a vertical-focused buy-and-build strategy within infrastructure and
industry services niches in the Nordics. 

INCREASED FOCUS ON INVESTMENTS

To ensure cost-efficient implementation of the buy-and-build strategy,
accountability and recruitment of experienced investment professionals, the
board has decided to implement an effective, private equity-like structure, for
the future development and management of Inin Group's investment portfolio.

The structure entails that all personnel in Inin will be transferred to a newly
established entity named Inin Capital Partners AS. Under a management agreement,
Inin Capital Partners will, under the supervision of the Inin Group board of
directors, be responsible for executing Inin Group's buy-and-build strategy. 

Sourcing all investment activities and other administrative functions from Inin
Capital Partners will result in a net reduction of fixed overhead cost of
approximately NOK 5 million annually for Inin Group from last year's cost level
as today's employees in Inin Group AS will be transferred to Inin Capital
Partners. 

In addition to cost savings, Inin Group will benefit from the new management
structure, as Inin Capital Partners will have the ability to recruit senior
private equity investment professionals.

Inin Group is therefore also pleased to announce that Inin Capital Partners has
recruited Patrik Egeland to join the investment team.

Egeland has more than 20 years of experience from management consulting, private
equity and M&A advisory, from companies such as McKinsey & Company, Herkules
Capital, PWC and Capillar. 

"There are a number of listed investment companies in Sweden that have delivered
strong growth and attractive shareholder returns over time by pursuing a similar
buy-and-build strategy as Inin Group. The opportunity to build up something
similar in Norway is an exciting opportunity that I am looking forward to being
part of" says Patrik Egeland. 

INCENTIVISED MANAGEMENT AGREMEENT

The new management structure is based on proven private equity incentive models.
Going forward, Inin Group will pay a management fee to Inin Capital Partners
based on the consolidated revenue of Inin Group's portfolio companies, a fee
related to acquisitions, plus a potential success fee linked to the realized
value creation for Inin Group upon exit of investments. 

"The board has sought to achieve a fee model, that truly incentivizes the
investment team to generate a strong return for Inin Group, while reducing the
operational cost and risk for Inin Group. This is a common structure for private
equity-companies that in many cases has yielded excellent returns to the
investors," says, Leif Christian Salomonsen, chairman of Inin Group AS.

Under the management agreement Inin Capital Partners will be entitled to a
performance bonus on investments that, upon exit, have generated a yearly IRR of
8% to Inin Group. Above this hurdle threshold, value creation will be split
between Inin Capital Partners and Inin Group with 20% to Inin Capital Partners
and 80% to Inin Group. The performance bonus is only applicable for excess
returns generated after the date of entering into the agreement between Inin
Group and Inin Capital Partners. As such no bonus or fees will be incurred by
Inin Group related to the announced potential sale of Elop Technology.

In order to ensure alignment of interests between Inin Capital Partners and the
shareholders of Inin Group, Inin Capital Partners will, subject to approval by
the shareholder meeting of Inin Group, receive share options in Inin Group equal
to 7,5% of the total outstanding shares in Inin Group. The options are vested
over a period of 3 years. The strike price will be equal to the volume weighted
average trading price in the 30 trading days preceding the issue date.

RELATED PARTY TRANSACTION

Inin Capital Partners is (indirectly) owned by Øivind Horpestad, Patrik Egeland
and Kristian Lundkvist. Other employees of Inin Capital Partners will also
become owners. As Horpestad and Lundkvist are shareholders in Inin Group, they
have not participated in any of the board meetings discussing the management
agreement. Kristian Lundkvist will resign from Inin Group Board of directors at
the next ordinary general assembly. The agreement is also subject to the
provisions set out in the Norwegian private limited companies act section 3-8.
The board has therefore ensured that the terms of the management agreement are
in line with market terms and prepared a declaration to this effect in line with
the provisions of section 3-8. KWC, an independent valuation service provider
(https://www.kw-c.no), have reviewed the boards statement and made a report
confirming the boards declaration in accordance with section 2-6 of the
companies act. The declaration and the report will be distributed to alle
shareholders and to the Norwegian Register of Business Enterprises.

ININ GROUP

Today, Inin Group consists of the Nordic Infrastructure Group (100% ownership),
Hadeland Elektro (65%), and Nordic Inspekt Group AB (65%). These three companies
will be used as platforms for bolt-on acquisitions within their respective
industry segments, as exemplified by Nordic Infrastructure Group's planned
investment in Team 1435 AS (see stock exchange announcement dated 16 January
2023), and Nordic Inspekt Group AB's planned acquisition of NSK Sweden (see
stock exchange announcement dated 20 December 2022). 

On 21 February, Inin Group announced that it had received a USD 30 million
non-binding offer for the potential sale of wholly-owned subsidiary Elop
Technology AS.

(ENDS)

For further information, please contact:
Leif Christian Salomonsen, Chairman of Inin Group AS, Tel: +47 99242888

About Inin Group AS
Inin Group is an industrial owner that invests into 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 portfolio companies to deliver sustainable growth and
superior profitability.