Reference is made to the stock exchange announcement published byElop AS ("Elop" or the "Company") on1 October 2021 entitled "Elop AS : Notifiable transactions in connection with Private Placement". All capitalised terms used but not defined in this stock exchange announcement are references to those terms as defined in the1 October 2021 stock exchange announcement. The shares borrowed by the Settlement Agent for the Private Placement have now been redelivered to the Share Lenders. Two of the Share Lenders, Melandsø Invest AS and Zono Invest AS, are persons closely associated with primary insiders in the Company Kjetil Skaget andKristian Lundkvist , respectively. Both Mr. Skaget andMr. Lundkvist are members of the board of directors of Elop. Further details regarding these redelivery transactions are included in the attached PDMR notifications. In addition, the below persons have, as further detailed below and on the basis of the new registered share capital of the Company following the completion of the Private Placement, crossed the notifiable holdings thresholds of Section 4-2 of the Norwegian Securities Trading Act identified below: * Melandsø Invest AS, a close associate of board member Kjetil Skaget, has received redelivery of 12,771,081 shares from the Settlement Agent, and has consequently crossed back above the 10% and 5% notifiable holding thresholds. * Sogn Invest AS, a shareholder of the Company, has received redelivery of 5,186,025 shares from the Settlement Agent. Based on the new registered share capital of Elop following the completion of the Private Placement, Sogn Invest AS' shareholding no longer exceeds the 5% notifiable holding threshold. * Zono Invest AS, a close associate of board memberKristian Lundkvist , has received redelivery of 4,700,000 shares from the Settlement Agent, and will (on a consolidated basis together with close associates) cross back above the 5% notifiable holding threshold. * Tigerstaden Marine AS, a close associate ofKetil Skorstad , has received redelivery of 2,342,894 shares from the Settlement Agent. Based on the new registered share capital of Elop following the completion of the Private Placement, Tigerstaden Marine AS' (together with other entities whose shareholding is to be consolidated with Tigerstaden Marine AS for the purposes of determining notification threshold crossing) shareholding no longer exceeds the 5% notifiable holding threshold. END For further information, please contact: Media Øivind Horpestad, Executive Chairman of Elop, tel: +47 910 00 626 InvestorsKim Boman , CFO of Elop, tel: +47 959 63 912 About Elop Elop is a Norwegian holding company with two operating subsidiaries. Elop Technology develops tools and digital solutions to inspect, monitor and manage infrastructure worldwide using patented ultrasound technology. Through data-driven and AI-based solutions for inspection and predictive maintenance of concrete infrastructure, the vision is to provide asset owners with solutions that improve safety, extend asset lifetime, minimise total lifecycle cost and environmental footprint. Simplifai offers automation solutions using artificial intelligence. This information is such that Elop is required to disclose in accordance with the EU Market Abuse Regulation. This announcement was published byKim Boman , CFO,Elop AS , on13 October 2021 at1105 CEST .
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