Mandatory notification of subscription of shares by primary insiders in the Employee Share Purchase Program

April 12, 2022: Reference is made to Elop AS's (the "Company") stock exchange announcement earlier today, regarding the result of the offer of shares to employees in the Company and its Norwegian and German subsidiaries (the "Employee Share Purchase Program"). The following primary insiders of the Company have today, on 12 April 2022, applied for, been allocated and subscribed for shares in the Company at the offer price of NOK 2.234 per share in the Employee Share Purchase Program. - Øivind Horpestad, chairman of the board and CEO in Elop AS, has subscribed for 21,488 shares in the Company for a total subscription amount of NOK 48,000. Following the subscription, Øivind Horpestad and related parties control 9,038,222 shares in the company. - Bård Myrstad, COO in Elop AS and CEO in Simplifai AS, has subscribed for 7,162 shares in the Company for a total subscription amount of NOK 16,000. Following the subscription, Bård Myrstad and related parties control 4,526,442 shares in the company. For further information, please contact: Investors Kim Boman, CFO, 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. Simplifai’s Digital Employee solutions automate labour intensive work process where natural language communication including email or documents are central.