17 October 2023 - Reference is made to the stock exchange announcement dated 3
August 2023 regarding Inin Group AS signing the final share purchase agreement
for the acquisition of leading mass handling, recycling and transportation
company TW Gruppen AS. Inin Group's board of directors has today approved to
increase the share-based consideration, with an equal reduction in the
cash-based consideration, for the transaction's initial consideration. 

The new initial consideration for acquiring 70 percent of the shares in TW
Gruppen will be settled through NOK 23 million in Inin Group shares (previously
NOK 16 million in Inin Group shares) and NOK 5 million in cash (previously NOK
12 million in cash). Of the NOK 23 million share-based consideration, NOK 16
million is valued at NOK 2.80 per share while NOK 7 million will be equal to the
volume weighted average trading price in the 10 trading days preceding the
closing date.

The initial consideration will be settled at closing of the transaction. Closing
of the transaction is expected to take place during October 2023. 

"Since I signed the term sheet with Inin Group in March this year, I have had
the pleasure of getting to know the people in Inin Group and learn more about
the group's plans and ambitions. This have motivated me to further increase my
immediate shareholding in Inin Group. I am pleased that the board has approved
this, and I look forward to becoming part of Inin Group," says Tom Wilhelmsen. 

The remaining payment and valuation terms of the TW Gruppen acquisition are
unchanged. They include an earn-out model based on 5.5x average EBIT in TW
Gruppen AS for three 12-month periods starting in August 2023, with annual
settlements to be settled 60 percent in cash and 40 percent in Inin Group shares
at the market price at the relevant time. 

The share-based part of the total consideration will be settled partly in
treasury shares already held by Inin Group, bought in the market through the
previously announced buyback program, and partly through issuance of new shares
in Inin Group in accordance with the authorization granted at the company's
annual general meeting on 12 June 2023. 

(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

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.