Certain Shares of IPAS Indexo AS are subject to a Lock-Up Agreement Ending on 15-JUL-2023. These Shares will be under lockup for 365 days starting from 15-JUL-2022 to 15-JUL-2023.

Details:
The ultimate beneficial owners of SIA “DVH” (the largest Shareholder of the company owning approximately 22.31% of the company Shares as of the date of this Prospectus) have agreed to be subject to lock-up agreements as follows: Valdis Siksnis, who owns directly and indirectly approximately 7.52% of the company Shares before the Offering, has agreed without the prior written consent of the company not to, directly or indirectly, sell, contract to sell, exercise any option to sell, or otherwise dispose of more than 10% of the Shares of the company owned by him during the period commencing on the date of the lock-up agreement (entered into on or about the start of the Offer Period) and ending after the lapse of 12 calendar months from the date of the lock-up agreement. The same restriction shall apply to any securities convertible into or exchangeable for the Shares of the Company and to any swap or other agreement or any transaction, the economic consequence of which would be the transfer of the ownership of the Shares of the company. the company is not entitled to unreasonably withhold its consent, provided that the proposed new owner of the locked-up shares of the company has executed or has committed to execute a lock-up agreement on similar terms for the remaining term of the lock up period.

Henrik Karmo, who owns directly and indirectly approximately 9.87% of the company Shares before the Offering, has agreed without the prior written consent of the company not to, directly or indirectly, sell, contract to sell, exercise any option to sell, or otherwise dispose of more than 10% of the Shares of the company owned by him during the period commencing on the date of the lock-up agreement (entered into on or about the start of the Offer Period) and ending after the lapse of 12 calendar months from the date of the lock-up agreement. The same restriction shall apply to any securities convertible into or exchangeable for the Shares of the company and to any swap or other agreement or any transaction, the economic consequence of which would be the transfer of the ownership of the Shares of the company. The company is not entitled to unreasonably withhold its consent, provided that the proposed new owner of the locked-up shares of the company has executed or has committed to execute a lock-up agreement on similar terms for the remaining term of the lock up period.

In addition to the above, the Shareholders of the company have agreed to place more than 98% of the Shares owned by them under the lock-up agreement provisions by agreeing, without the prior written consent of the company not to, directly or indirectly, sell, contract to sell, exercise any option to sell, or otherwise dispose of more than 20% of the Shares of the company owned by each respective Shareholder (who has concluded such lock-up agreement) during the period commencing on the date of the lock-up agreement (entered into on or about the start of the Offer Period) and ending after the lapse of 6 calendar months from the date of the lockup agreement. The same restriction shall apply to any securities convertible into or exchangeable for the Shares of the company and to any swap or other agreement or any transaction, the economic consequence of which would be the transfer of the ownership of the Shares of the company. The company is not entitled to unreasonably withhold its consent, provided that the proposed new owner of the locked-up shares of the company has executed or has committed to execute a lock-up agreement on similar terms for the remaining term of the lock up period.