Interim report
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ININ Group AS First half-year 2026 Financial report
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ININ Group AS H1 2026 Financial Report 2 About ININ Group ININ Group is a listed investment company operating as an industrial owner investing in companies within infrastructure and industry services niches in the Nordics. The group aims to create value by identifying investment opportunities within profitable niches with potential for development, consolidation and growth, working in collaboration with the platform companies to deliver sustainable growth and superior profitability. ININ Group prefers to invest in industries with strong macro drivers and healthy megatrends. ININ Group’s majority shareholder, Qben Infra AB, is listed on Nasdaq First North Premier Growth Market in Stockholm, Sweden. Per 30 June 2026, Qben Infra owns 91.87% of ININ Group, and 95.00% when adjusted for shares held by ININ Group. As of 30 June 2026, ININ Group consists of two investment platforms: *Remaining shares held by founders / key employees 90,46% POWER Energy infrastructure, telecom construction and maintenance ININ Group 62,86%* INSPEC TION (TIC ) Testing, inspection and certification (TIC) of infrastructure and industrial assets.
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ININ Group AS H1 2026 Financial Report 3 Highlights – H1 2026 Rail Divested On October 15, 2025, Qben Infra signed a share transfer agreement to sell the Qben Rail business to Eleda Norway AS. Because of this, the segment is classified as a business held for sale and is therefore reported separately in accordance with applicable principles for assets held for sale and discontinued operations. The Qben Rail business was finally sold on January 28, 2026. Power Growing Qben Power continued to grow during the first half of 2026, although at a much slower pace than during the growth phase in 2025. The most important event has been the acquisition of the Norwegian contractor B45 Anlegg AS, which was completed on April 16. B45 Anlegg specializes in concrete work for critical infrastructure such as power plants, dams, power lines, and substations, with its headquarters in Kragerø in Telemark county and operations throughout Norway. Inspection (TIC) Remaining On April 20, Inin Group AS, signed a letter of intent to sell its stake in Nordic Inspekt Group AB, including its subsidiaries, to Framheim Capital Partners AS. The transaction would have valued Nordic Inspekt Group at 150 MSEK on a debt-free basis. However, the parties could not agree on the final terms, and the letter of intent was terminated on June 30, 2026, without any transaction taking place. Nordic Inspekt Group, which makes up the entire business area, therefore remains an integrated part of Qben Infra.
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ININ Group AS H1 2026 Financial Report 4 Analysis of first half-year 2026 Group financial review Figures in brackets represent same period prior year, or balance sheet date as of 31st December 2025. Financial results The group operating revenues were NOK 517.6 million in H1 2026 (NOK 445.2 million). The increase in revenue is driven by organic growth and through acquisitions. Total operating expenses were NOK 510.9 million (416.5), partly due to numerous companies added to Inin Group during the past year. EBITDA amounted to NOK 6.7 (28.7) in H1 2026. Depreciation and amortization amounted to NOK 30.5 million (34.3) in H1 2026, consisting mainly of depreciation of right to use assets. EBIT amounted to NOK -23.8 million (-5.6) in H1 2026. Net financial items of NOK -8.8 million (-63.8) in H1 2026. The decrease includes cost incurred due to early repayment of the bond last year (NOK 39.9 million) related to refinancing of the group in 1H 2025, as well as reduced interest expenses in 2026. Net profit ended at NOK 339.1 million (-43.0) in H1 2025, where 366.0 million is related to profit from sale of discontinued operations. Financial position Total assets as of 30 June 2026 were NOK 820.9 million, compared to NOK 1,291.9 million as of 31 December 2025, 645.7 excluding assets held for sale. Non-current assets were NOK 603.8 million (365.8). Total current assets amounted to NOK 217.2 million (926.1). Equity as of 30 June 2026 amounted to NOK 397.6 million (136.1), representing an equity ratio of 48.4% (12.3%). Total liabilities as of 30 June 2026 were NOK 423.4 million, compared to NOK 1,155.8 million as of 31 December 2025, 761.8 excluding liabilities held for sale. Group loan from Qben Infra, amounted to NOK 273.7 million as of 31 December 2025, was repaid in January 2026. Current liabilities amounted to NOK 344.0 million (1.082.0). Cashflow – continued operations Cash flow from operating activities in 1H 2026 was NOK -10.2 million (NOK -37.8 million). Cash flow from investment activities was NOK 398.1 million (NOK -1.5 million), and cash flow from financing activities was NOK -431.3 million (NOK 10.1 million). Cash and cash equivalents as of 30 June 2026 were NOK 28.1 million, compared to NOK 69.8 million as of 30 June 2025 and NOK 71.8 million as of 31 December 2025.
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ININ Group AS H1 2026 Financial Report 5 Organisation ININ Group AS had no employees during first half of 2026 as all personnel were employed by Inin Capital Partners AS. Inin Capital Partners is owned 100% by Qben Infra AS has under a management agreement, under the supervision of ININ Group’s board of directors, been responsible for ININ Group’s management functions, including executing the group’s buy-and-build strategy. In total, ININ Group and its subsidiaries employed 430 people as of 30 June 2026. Risk factors ININ Group (“the Group”) is exposed to financial risk in different areas - mainly credit risk, currency risk and liquidity risk. The Group seeks to minimize potential adverse effects of such risks through sound business practice. Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks. Credit risk with respect to trade receivables and contract assets is limited by a relative high share of continuous invoicing and payments and solid customers. Customer credit risk is managed by each subsidiary in the Group. Foreign exchange risk Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign currency rates. The Group’s exposure to the risk of changes in foreign exchange rates relates primarily the Group’s operating activities (when revenue or expense is denominated in a different currency from the Group’s presentation currency), the Group’s net investments in foreign subsidiaries, and the Group’s foreign currency denominated cash depos. The Group has businesses primarily in Norway and Sweden, and natural hedges is normally reducing foreign exchange risk through revenue and cost based in NOK and SEK respectively. Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group’s reputation. Surplus liquidity is primarily placed in a bank deposit account. Interest-rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group’s exposure to the risk of changes in market interest rates relate primarily to the Group’s debt with floating interest rates and Group’s cash and cash equivalent with floating rates.
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ININ Group AS H1 2026 Financial Report 6 Capital structure and equity The primary focus of the Group’s capital management is to ensure that it maintains an acceptable capital ratio in order to support its business operations and safeguard the ability to continue as a going concern, so that it can provide return for shareholders and benefits for other stakeholders. Regulatory risk The Group is exposed to risks related to changes in agreements, taxation or operational regulations. This risk is difficult to hedge against, apart from securing that operations at all times are in compliance with the prevailing rules and regulations. Market risk The Group is exposed to infrastructure sectors in Norway and Sweden, including among others power distribution, testing, inspection and certification. There is a risk that these markets will change negatively, and as such effect the Group’s financial results, growth plans and business strategy. Project risk The Group’s ability to carry out profitable projects is important to meet its growth plans and business strategy. There is a risk that execution on projects has weaker performance than expected. IT and cybersecurity risk The Group is exposed to IT and cyber security risk, which among others can impact operation and projects, technology, and intellectual property. Climate-related risk ININ Group’s portfolio companies are primarily exposed to land-based infrastructure segments such as; energy, electrical and telecommunications infrastructure; and roads. A major climate risk is the increase in the frequency and intensity of extreme weather events, which is also occurring more often in ININ Group’s main geographical markets in Norway and Sweden. As the Group’s portfolio companies are primarily exposed to maintenance and upgrades of infrastructure, the effects of extreme weather are likely to cause increased maintenance requirements. ININ Group does not believe that extreme weather or climate changes will have negative effects on expected useful economic life of the Group’s property, plant and equipment. ININ Group’s TIC platform has some exposure to the offshore energy industry. The offshore energy industry has been identified as high risk by the Task Force on Climate-Related Financial Disclosures, and the industry is under pressure to reduce its emissions. As the world is increasingly moving toward low and zero carbon energy solutions, there is a risk of declining investment in upstream oil and gas. However, as ININ Group’s TIC platform contributes towards educating infrastructure and equipment owners about material consumption, and its competence contributes towards lifespan extension of assets, this also represents a business opportunity for the Group. Overall, it is the Group’s view that the effects of climate changes could open up business opportunities for the group’s portfolio companies. Effective assessment and analysis of climate-related risks and opportunities is vital to understand the potential impacts of climate-related risks on asset valuations, revenue and investment requirements.
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ININ Group AS H1 2026 Financial Report 7 Outlook When investing, ININ Group carefully selects attractive positions within infrastructure and industry services verticals that are supported by strong megatrends and macro drivers. In addition, ININ Group invests when there are clear growth drivers in the specific market/ services provided, plus positive development in market demand and need for the services as well as underlying changes in the value chain and modus operandi. Within power distribution, rising demand for renewable energy sources such as solar and wind power requires the construction of new electrical infrastructure to connect these sources to the grid. Growing urbanization and industrialization creates demand for new buildings, factories, and infrastructure that require electrical construction services. There is also a maintenance deficit growing on strained existing infrastructure. ININ Group therefore expects market growth within the market segments that its Power investment platform operate. The market for inspection of infrastructure is growing, driven by increasing regulations and standards for quality and safety across various industries. In addition, increasing international trade and increasing demand for imported products has increased the need for testing, inspection and certification (TIC) services to ensure compliance with local regulations and standards. Growing focus on sustainability and environmental regulations is also leading to increased demand for TIC services. ININ Group expects these macro drivers to positively affect its Inspection investment platform.
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ININ Group AS H1 2026 Financial Report 8 Responsibility statement The board of directors and the CEO have considered and approved the consolidated interim financial statement for ININ Group AS as of 30 June 2026. These Financial Statements have been prepared under the assumption of going concern and we confirm that this is valid. We hereby confirm that, to the best of our knowledge, the annual financial statements for 1 January to 30 June 2026 have been prepared in accordance with applicable accounting standards and that the financial statements give an accurate and fair view of the development, profit and position of the company, as well as description of the principal risks and uncertainties it is facing. Oslo, 28 August 2026 Anders Olav Granshagen (Sign.) Chairman Isabell Os (Sign.) Board member Isabell Os (28. aug.. 2026 13:54:50 GMT+2) Isabell Os
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ININ Group AS H1 2026 Financial Report 9 Financial statements - condensed Consolidated statement of profit and loss Amounts in NOK thousand H1 2026 H1 2025 FY 2025 Revenue 517 596 445 205 942 579 Total revenue 517 596 445 205 942 579 Cost of sales 224 791 166 470 377 877 Employee benefit expenses 205 476 185 536 372 364 Other operating expenses 80 617 64 484 139 213 Total operating expenses 510 885 416 489 889 454 EBITDA 6 712 28 716 53 125 Depreciation 30 235 34 325 63 845 Write downs 147 - - EBITA (23 670) (5 609) (10 720) Amortisation 102 18 232 Operating profit/(loss) (EBIT) (23 772) (5 627) (10 952) Financial income 7 652 (1 162) 7 281 Financial expenses 16 442 62 588 124 566 Net financial items (8 790) (63 749) (117 285) Profit/(loss) before income tax (EBT) (32 563) (69 376) (128 237) Tax expense (5 697) - (2 316) Profit/(loss) from continued operations (26 866) (69 376) (125 922) Profit/(loss) from discontinued operations 365 950 26 421 34 399 Profit/(loss) for the period 339 085 (42 955) (91 523) Profit/(loss) for the period is attributable to: Non-controlling interests profit/(loss) (11 742) 1 185 (2 841) Owners of Inin Group AS 350 827 (44 140) (88 682) Earnings per share in NOK Basic earnings per share 2,60 (0,33) 0,66 Diluted earnings per share 2,60 (0,33) 0,66
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ININ Group AS H1 2026 Financial Report 10 Consolidated statement of other comprehensive income Amounts in NOK thousand H1 2026 H1 2025 FY 2025 Profit/(loss) for the period 339 085 (42 955) (91 523) Other comprehensive income from continued operations (460) (727) 8 758 Other comprehensive income from discontinued operations (284) Total comprehensive income/(loss) for the year 338 341 (43 682) (82 765) Total comprehensive income/(loss) is attributable to: Non-controlling interests (11 072) 1 440 (2 841) Owners of Inin Group AS 349 414 (45 122) (79 924)
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ININ Group AS H1 2026 Financial Report 11 Consolidated balance sheet Amounts in NOK thousand H1 2026 H1 2025 FY 2025 ASSETS Non-current assets Goodwill 252 690 430 544 191 471 Deferred tax asset 3 868 1 373 3 868 Intangible assets 368 656 470 Property, plant and equipment 32 877 59 102 30 638 Right of use assets 108 582 219 827 100 963 Loans to Group companies 166 278 0 0 Other non-current assets 39 099 40 939 38 380 Total non-current assets 603 762 752 442 365 790 Current assets Inventory 7 536 17 086 7 729 Trade receivables 85 661 400 463 59 313 Group internal receivables 16 045 22 892 Other current receivables 79 892 124 785 118 201 Cash and cash equivalents 28 054 144 980 71 757 Assets held for sale 0 0 646 230 Total current assets 217 188 687 314 926 121 TOTAL ASSETS 820 950 1 439 756 1 291 911
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ININ Group AS H1 2026 Financial Report 12 Consolidated balance sheet continued Amounts in NOK thousand H1 2026 H1 2025 FY 2025 EQUITY AND LIABILITIES Equity Share capital 6 737 6 737 6 737 Treasury shares (229) (217) (222) Share premium 476 589 477 237 477 003 Other equity reserves (49 922) 63 512 26 563 Accumulated loss (35 594) (369 780) (373 935) Total equity 397 582 177 489 136 146 Non-controlling interests 54 359 147 062 141 399 Non-current liabilities Deferred Tax Liability 199 10 633 8 011 Non-current liabilities to financial institutions 4 544 12 964 1 314 Group Loan (from Qben Infra AB) 1 085 377 835 - Non-current lease liabilities 72 970 146 198 64 396 Other non-current liabilities 565 0 0 Total non-current liabilities 79 362 547 629 73 721 Current liabilities Trade payables 106 258 292 516 84 638 Group internal liability 48 940 274 634 Tax payable -476 10 745 0 Current liabilities to financial institutions 888 1 564 699 Current lease liability 38 554 78 146 39 288 Public fees payable 29 725 92 558 46 845 Deferred payment acquisitions 63 110 85 212 30 219 Other current liabilities 57 007 153 897 211 729 Liabilities held for sale 0 0 393 992 Total current liabilities 344 006 714 638 1 082 045 Total liabilities 423 368 1 262 267 1 155 766 TOTAL EQUITY AND LIABILITIES 820 950 1 439 756 1 291 912
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ININ Group AS H1 2026 Financial Report 13 Consolidated condensed statement of changes in equity Amounts in NOK thousand Share capital Own shares Share premium Other equity reserves Accumulated loss Owners of ININ Group AS Non-Contr. interest Total equity Balance 31 December 2025 6 737 -222 477 003 24 765 -514 053 -5 769 141 914 136 145 Profit/(loss) for the period - - - - 350 827 350 827 -11 742 339 085 Other comprehensive income - - - - -1 414 -1414 670 -744 Total comprehensive income/(loss) for period - - - - 349 413 349 413 -11 072 338 341 Divestment of Nordic Infrastructure Group - - - - 0 -110 247 -110 247 Acquisition of B45 Anlegg - - - - 0 26 600 26 600 Share Issue - Nordic Inspekt Group - - - - 0 7 164 7 164 Acquisition of treasury shares in market - -7 -414 - -421 - -421 Balance 30 June 2026 6 737 - 229 476 589 24 765 -164 640 343 223 54 359 397 582
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ININ Group AS H1 2026 Financial Report 14 Consolidated statement of cash flows Amounts in NOK thousand H1 2026 H1 2025 FY 2025 Cashflows from operating activities Profit/(loss) before income tax 356 195 (68 792) (128 237) Adjustments for Taxes paid (1 751) (90) (1 148) Depreciation, amortization and write downs 30 377 34 341 64 074 Gain or loss by sale of Assets and Business (388 758) (7 711) 13 178 Valuation of financial instruments - 5 098 Change in trade and other receivables (587) 47 200 13 946 Change in inventory 172 (540) (1 270) Change in trade and other payables 51 689 (20 714) 14 391 Change in accruals (57 548) (21 460) 13 813 Cashflow from operating activities (10 211) (37 766) (6 156) CF from operating activities - discontinued operations 877 37 420 118 856 Total Cashflow from operating activities (9 334) (346) 112 700 Cash flows from investing activities Investment in subsidiaries (6 523) (8 227) (77 511) Investment in property, plant and equipment (5 352) (2 271) (6 759) Investment in intangible assets 0 - - Other financial investments (240) 21 (250) Received by sale of Assets and Business 408 932 7 464 140 596 Receipt of government grants 1 234 1 500 2 156 Cashflow from investing activities 398 051 (1 513) 58 231 Cashflow from investing activities - discontinued operations (441) (44 235) (82 747) Total Cashflow from investing activities 397 610 (45 748) (24 516) Cash flows from financing activities Lease payment - IFRS 16 (26 429) (31 413) (57 007) Net proceeds from Group loan (Qben Infra) (410 528) 280 079 209 428 Repayment of Bond - (226 974) (226 974) Net payment of other debt (Non-current / Current) (257) (7 106) (6 025) Change in credit facilities (858) (3 831) (3 859) Net payment of treasury shares (421) (636) (874) Capital increase received funds 7 173 - Cashflow from financing activities (431 321) 10 119 (85 312) Cashflow from financing activities - discontinued operations (6 161) 35 767 (2 451) Total Cashflow from financing activities (437 482) 45 886 (87 763) Net increase/(decrease) in cash and cash equivalents (49 206) (208) 422 Cash and cash equivalents in the beginning of period 153 100 124 461 124 461 Net cash from acquisitions and disposals (75 679) 20 505 28 067 Effect of change in currency rates (162) 222 150 Cash and cash equivalents at the end of the period 28 054 144 980 153 100 of which is cash in discontinued operations 0 75 159 81 342
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ININ Group AS H1 2026 Financial Report 15 Notes Note 1 General information Inin Group AS (the “Company” or “ININ”), former Elop AS, was founded in 2013 and is a limited liability company which is incorporated and domiciled in Norway, with its head office in Beddingen 8, 0250 Oslo. The Company is traded on Euronext Growth Oslo with ticker “ININ”. Inin Group AS is an investment company from Norway, with two main platforms: Power and Inspection (TIC), which together form the “Group”. Power is led by Laje AS. The platform provides complete electrotechnical solutions for construction and infrastructure projects. Inspection is led by Nordic Inspekt Group AB. The platform delivers testing and inspection services for industrial and infrastructure projects, focusing on Scandinavia. These financial statements were approved by the Board of Directors on 28 August 2026. The report has not been audited. Note 2 Summary of significant accounting policies Basis of preparation This condensed consolidated interim financial report for the period ended 30 June 2026 has been prepared in accordance with Accounting Standard IAS 34 Interim Financial Reporting. The figures are not audited. These interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and accordingly this report should be read in conjunction with the Group’s annual consolidated financial statements for 2025. No significant changes have been made to the accounting policies compared with the principles used in the preparation of the financial statements for previous year. The Company has not implemented any new standards or new accounting principles in this interim financial statement which has had a significant impact. There are no material new standards and interpretations not yet implemented. These consolidated financial statements are presented in NOK, which is also the functional currency of the parent company. All amounts disclosed in the financial statements and notes have been rounded off to the nearest thousand currency units unless otherwise stated. The financial statements have been prepared on a historical cost basis. Note 3 Significant accounting estimates and judgements In preparing these interim condensed consolidated financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income, and expense. Actual results may differ from these estimates.
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ININ Group AS H1 2026 Financial Report 16 The significant judgements made by management in applying to the Group’s accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual consolidated financial statements. Note 4 Segments The groups business is managed by two operating segments - Power and Inspection - which are monitored separately. The internal management reports provided by management to the Group’s Board of Directors, which is the groups decision maker, is in accordance with this structure. The following main segment information is provided to the Board of Directors: Amounts in NOK thousand Power Inspection Discontinued Operations Others Elim Total Group - Revenue 404 890 113 998 56 990 (1 291) 574 586 Internal revenue - - - 17 499 (17 499) - Total revenue 404 890 113 998 56 990 16 208 (17 499) 517 596 Cost of sales 204 358 20 189 13 651 244 - 238 442 Employee benefit expenses 136 590 68 892 31 099 (6) - 236 576 Other operating expenses 56 974 23 204 30 989 17 938 (17 499) 111 606 EBITDA 6 967 1 713 (18 750) (1 969) - (12 038) Depreciation 19 668 10 560 3 365 8 - 33 600 Write downs - - - 147 - 147 EBITA (12 701) (8 847) (22 115) (2 123) - (45 785) Amortisation 83 18 5 - 107 Operating profit/(loss) (EBIT) (12 784) (8 865) (22 120) (2 123) - (45 892) Financial income 1 004 51 388 780 7 911 (1 315) 396 432 Financial expenses 12 634 8 320 710 3 673 (8 184) 17 152 Net financial items (11 629) (8 269) 388 070 4 239 6 869 379 280 Profit/(loss) before income tax (24 413) (17 134) 365 950 2 115 6 869 333 388 Tax income -/ tax expense + (5 697) - - - - (5 697) Profit/(loss) for the year (18 716) (17 134) 365 950 2 115 6 869 339 085 Allocation of profit (internal dividend) - - - - - - Profit/(loss) for the year allocated to equity (18 716) (17 134) 365 950 2 115 6 869 339 085 - Non-controlling interests profit/(loss) (1 726) (6 365) (3 651) - - (11 742) Long term assets 325 552 115 571 - 269 456 (106 817) 603 762 Short term assets 154 393 50 992 - 223 285 (211 482) 217 188 Total assets 479 946 166 562 - 492 742 (318 300) 820 950 Non-current liabilities 50 983 31 383 - 17 318 (20 321) 79 362 Current liabilities 365 443 134 865 - 34 860 (191 161) 344 006 Total liabilities 416 426 166 248 - 52 177 (211 482) 423 368
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ININ Group AS H1 2026 Financial Report 17 Note 5 Business combinations ININ Group has, through its subsidiary ININ Power AS, acquired B45 Anlegg AS (closed 16 April 2026) . The purchase price allocation has identified assets and liabilities as set out in the table below. Amounts i NOK thousand B45 Anlegg AS Purchase consideration Cash consideration - Consideration shares 26 600 Selles credit 39 900 Total purchase consideration 66 500 Deferred tax asset 2 426 Other PP&E 3674 Other non-current assets 547 Current assets 6 948 Cash and cash equivalents 143 Deferred tax liability - Non-current liabilities -482 Current liabilities -12 355 Minority interest - Total net identifiable assets acquired as fair val 903 Consideration 66 500 Goodwill 65 597 Net cash inflow arising on acquisition Cash consideration - Less: Cash and cash equivalent balances acquired 143 Net cash inflow arising on acquisition 143 Note 6 Share capital and options The total share capital of Inin Group AS as of 30 June 2026 is NOK 6,737,045 divided by 134,740,900 shares, each with a par value of NOK 0.05. The total share capital of Inin Group AS as of 30 June 2025 was NOK 6,737,045 divided by 134,740,900 shares, each with a par value of NOK 0.05. Inin Group AS holds 4.437.181 own shares as of 30.06.2026. Note 7 Related parties’ transactions Balances and transactions between the Company and its subsidiaries, which are related parties to the Company, have been eliminated on consolidation, and are not disclosed in this note. Transactions with related parties are carried out on an arm’s length basis. In 2023, Inin Group AS entered into a management agreement with Inin Capital Partners AS in relation to the strategic shift and changed focus to become an investment company targeting infrastructure
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ININ Group AS H1 2026 Financial Report 18 services companies. The incentive structure in this model comprises management fees tied to revenue, warrants linked to share price development and success fees linked to investment exits. The purpose of the structure is to align the interests of Inin Capital Partners AS with Inin Group AS, with the overall ambition to maximize value for the shareholders of Inin Group AS. In the new structure there are no direct costs or personnel costs in Inin Group AS, except for costs related to auditor, direct accounting and administrative costs, and transaction related costs. No loans or guarantees have been granted to senior executives, shareholders, etc. Note 8 Events after the balance sheet date After the end of the reporting period, Qben Power has continued to be successful and received several important orders. Among other things, the subsidiary Laje has been awarded a contract in Sweden for the construction of a new transmission line. The contract is worth approximately SEK 60 million and strengthens Qben Power's position in energy infrastructure in the Swedish market. Important contracts have also been awarded in Norway, the largest of which has been the reconstruction of the power line at Gulliåsen at a value of NOK 125 million.
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ININ Group AS H1 2026 Financial Report 19 Alternative performance measures (APM) The European Securities and Markets Authority (ESMA) issued guidelines on Alternative Performance Measures (“APMs”) that came into force on 3 July 2016. Alternative performance measures are meant to provide an enhanced insight into the operations, financing, and prospects of the company. The Company has defined and explained the purpose of the following APMs: EBITDA: Earnings before net finance cost (including interest cost), taxes, amortization, depreciation and impairments. EBITA: Earnings before net finance cost (including interest cost), taxes and amortization, but including, and impairments. EBIT: Earnings before net finance costs (including interest cost) and taxes, but including depreciation, amortization and impairments.