Qben Infra Makes Voluntary Share Exchange Offer to acquire Inin Group AS (OB:ININ) from Group of shareholders on April 8, 2024. The Offer Consideration will comprise of 0.2365482 newly issued shares in Qben Infra after the completion of a 1:3 share split resolved by the Board of Directors in Qben Infra. Number of outstanding shares in Qben Infra will be 36 million after the share split. The Offer is based on a fully diluted number of outstanding shares in ININ Group of 144,644,544 shares. After completion of the Offer and assuming 100% acceptance rate, ININ Group share holders will own 48.7% of Qben Infra. The Offer will not be conditional upon a minimum acceptance level. The Board of Directors in Qben Infra has also resolved to commence with an initial public offering process and listing of Qben Infra on Nasdaq Stockholm or Nasdaq First North Premier Growth Market, and IG shareholders having accepted the Offer will receive listed Qben Infra shares as Offer Consideration. Qben Infra will form the parent company for the combined entity that will be a Swedish listed infrastructure compounder. Following completion of the Offer and subject to a 2/3 majority vote at ININ Group?s general meeting, Qben Infra will seek to apply for a de-listing of ININ Group at Euronext Growth. The Offer is the result of strategic discussions between Qben Infra and selected large shareholders in ININ Group, including Gimle Invest. Gimle Invest has together with Sogn Invest, Tigerstaden, Middelborg, Lani Invest, Songa Investments and other shareholders in ININ Group (the ?Pre-accepting shareholders?) entered irrevocable pre-acceptances for approximately 39.2% of the outstanding share capital of IG with respect to the Offer. Including warrants, options and shares on total return swap agreements, the Pre-accepting shareholders control approximately 45.3% of the share capital on a fully diluted basis of IG. ININ Group has not been involved in the process leading up to the Offer. The Offer Document is expected to be published during May 2024 after finalisation of estimated pro forma IFRS-16 financials for the combined company and the assessment of the Offer Document by the Swedish Financial Supervisory Authority. The completion of the Offer shall be subject to the conditions i.e., The Nasdaq Stockholm or First North Premier listing committee shall have approved the application for listing, Relevant regulatory approvals shall have been obtained, IG shall in all material respects have conducted its business in the ordinary course, The Offeror shall have received change of control consent from IGs bond holders, No legal action shall have been taken that will or might restrain or prohibit the Offer or the completion of the Offer and No material adverse change shall have occurred between the date of this announcement and until settlement of the Offer. As further set out below, listing of the shares will be a condition to the Offer that the Offeror or accepting shareholders in ININ Group cannot waive. The listing is expected to take place during the second half of 2024, but in any event no later than 31 December 2024. The Board of Directors in Qben Infra are committed to seeking Qben Infra listed at Nasdaq Stockholm and will as soon as practically possible commence with an uplisting process to Nasdaq Stockholm in the event that Qben Infra is initially listed on First North Premier.

ABG Sundal Collier ASA is acting as financial adviser and Advokatfirma DLA Piper is acting as legal adviser to the Offeror in the process.