19 April 2024 - Rail Production AS, a subsidiary of Inin Group-owned Nordic
Infrastructure Group, has today been conditionally awarded a NOK 110 million
contract to conduct preparatory work for the future ERTMS signalling system on
the railway between Hokksund and Kristiansand in Norway. 

Rail Production AS will deliver the project as part of a joint venture with
Gjermundshaug Anlegg AS. Rail Production's share of the total contract value is
estimated to be approximately NOK 110 million. 

The project includes construction of cable conduits and power supply for the new
ERTMS signalling system on the railway between Hokksund and Kristiansand on the
Sørlandet line that runs from Oslo via Kristiansand to Stavanger in the southern
part of Norway. 

"This is the largest single project we have been chosen for, which shows that
our decision to invest in and build up significant capacity within signalling
system expertise was the right one. We are very proud to collaborate on this
project together with Gjermundshaug Anlegg," says Gjermund Sogn, CEO of Nordic
Infrastructure Group, which is the parent company of Rail Production AS. 

The work will commence in May 2024 and is expected to be completed in the autumn
of 2026. 

The JV's client is Bane NOR SF, which is a state-owned company responsible for
the national railway infrastructure. The final contract award is subject to a
mandatory ten-day standstill period starting from today. 

ERTMS stands for European Rail Traffic Management System. It's a new signaling
and control system being implemented across Europe, including in Norway.

Euronext Growth-listed Inin Group is the majority owner of Nordic Infrastructure
Group, which heads up Inin Group's Rail Infrastructure 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