ININ GROUP AS: Satisfaction of conditions for exercise of call option

Reference is made to the press release published by ININ Group AS (the "Company") on 9 December 2024 (the "Call Option Press Release") regarding the conditional exercise of its option to redeem all outstanding bonds (the "Bonds") under its senior secured NOK 300,000,000 bond issue (ININ01) with ISIN NO0013105114 (the "Call Option").

The exercise of the Call Option was conditional upon: (a) the successful issuance and settlement of new senior unsecured bonds in an initial issue amount of up to or around SEK 600,000,000 by the Company's parent company, Qben Infra AB ("Qben Infra") (including the full and due receipt of funds by Qben Infra which will enable it to finance the redemption), and (b) a closing mechanism in respect of the refinancing of the Bonds and related documentation having been agreed to the satisfaction of the Company, including a tripartite agreement regarding assignment of claims against the Paying Agent as Security in connection with the release of Transaction Security and the Guarantee (each term as defined in the bond terms governing the Bonds (unless otherwise defined herein)).

We are pleased to confirm that the conditions have been satisfied and that all outstanding Bonds will be redeemed as set out in the Call Option Press Release.

The Bonds will be redeemed at a price equal to the Make Whole Amount (as defined in the bond terms governing the Bonds), plus accrued and unpaid interest. The repayment date for the Call Option will be 8 January 2025 and the record date will be 6 January 2025.

For further information, please contact:

Øivind Horpestad, CEO of the Company and Qben Infra
Tel: +47 910 00 626