21 June 2023 - Reference is made to the stock exchange dated 18 April 2023
regarding Nordic Infrastructure Group's potential acquisition of 100 percent of
the shares in Thuve'n Anlegg & Bane AS. The two companies have today signed the
final share purchase agreement (SPA). 

Thuve'n Anlegg & Bane AS becomes part of Inin Group's Rail Infrastructure
investment platform, which is headed up by Nordic Infrastructure Group.

"We are delighted to have reached agreement with Thuve'n Anlegg & Bane. We
expect the team's competence within construction and installation of fibre optic
infrastructure and other communication equipment to be in strong demand in the
coming years, as new signalling systems are being built for Norwegian railways,"
says Gjermund Sogn, CEO of Nordic Infrastructure Group.

ABOUT THUVE'N ANLEGG & BANE AS
Thuve`n Anlegg & Bane's team has more than 20 years' experience from
construction services related to fibre optic equipment and cable infrastructure.
The company also provides construction services related to ERMTS (European Rail
Traffic Management System) signalling equipment. 

In addition, Thuve`n Anlegg & Bane AS provides construction services on behalf
of broadband companies related to installation of fibre cables to business
customers as well as consumers. 

Thuve'n Anlegg & Bane AS expects to generate revenue of approximately NOK 20
million in 2023. 

TRANSACTION TERMS
Thuve'n Anlegg & Bane AS is valued at NOK 25 million in the transaction, which
will be settled by NOK 20 million in shares in Nordic Infrastructure Group and
NOK 5 million in cash. The cash consideration will be settled in two tranches:
one at closing and the second after delivery of audited accounts for 2023. The
owners have agreed to a lock-up agreement as well as a non-compete clause after
expiry of the lock-up agreement. Closing of the transaction is expected by the
end of 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 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. For more information, please visit: www.inin.no