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

27 Dec 2024 17:23 CET

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

More information:
Access the news on Oslo Bors NewsWeb site