6 July 2022 - Reference is made to the stock exchange notice dated8 June 2022 whereElop AS ("Elop" or the "Company") and Simplifai Invest AS ("the Buyer") announced a share purchase agreement where the Buyer would acquire Simplifai AS ("Simplifai") from the Company. The Company hereby announces that all conditions for completion of the Transaction have been fulfilled, and that the Transaction has been completed. Through this transaction, Elop has secured a strong financial position and the opportunity to capitalize on a number of opportunities Elop has at closing received a cash amount ofNOK 86.3 million and a credit note ofNOK 50 million that shall be settled by the Buyer no less than 30 months from closing. Contact information: Øivind Horpestad, CEO, tel: +47 910 00 626Stian Thorsrud , Head of Communications and Marketing, tel: +47 993 00 003Kim Boman , CFO, tel: +47 959 63 912 About Elop AS Elop is a Norwegian technology company that delivers tools and digital solutions to inspect, monitor and manage infrastructure worldwide. Through data-driven and AI-based solutions for inspection and predictive maintenance of concrete infrastructure, Elop's vision is to provide asset owners with solutions that improve safety, extend asset lifetime, minimise total lifecycle cost and environmental footprint. Elop is headquartered inNorway . For more information: www.elop.no
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