4 July 2023 - 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
railway contractor Banefjell AS.

"Banefjell's key market is south-west Norway, so this is a complementary
geographical expansion that strengthens our position as a national railway
contractor, thereby enabling us to take on more and larger projects," says
Gjermund Sogn, CEO of Nordic Infrastructure Group.

ABOUT BANEFJELL AS
Banefjell is an experienced railway contractor that delivers a wide range of
services including operations and maintenance, track and sleeper replacement,
concrete rehabilitation, signaling and electrical work, and salvage operations.
Its main clients are Bane NOR and VY Gruppen, who Banefjell supports on the
southern railway line (Norwegian: "Sørlandsbanen) in Norway.

The company was established in 2013 and has generated steady revenue growth
since inception. In 2022, the company delivered revenue of NOK 103 million with
an operating profit (EBIT) of NOK 7 million. The company has a healthy balance
sheet with close to zero debt. Banefjell has delivered positive financial
results every year it has been in operation. 

Banefjell is headed by managing director Henning Løvås, who is also one of the
two main shareholders of the company.

TRANSACTION 
Signing of the final share purchase agreement and completion of the transaction
is subject to customary closing conditions, due diligence, and final transaction
documentation. Signing of the share purchase agreement and closing is expected
to occur between the third and fourth quarter 2023. Details of the financial
terms of the transaction will be shared following signing of a final share
purchase agreement between the parties.

Nordic Infrastructure Group is a subsidiary of Inin Group AS, which is listed on
Euronext Growth Oslo.

(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

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Kristina Haugland, Head of legal, Inin Capital
Partners, on 4 July 2023 at 16:00 CEST.