# EDGAR Filing Document

**Accession Number:** 0002109150
**File Stem:** 0001193125-26-259837
**Filing Date:** 2026-6
**Character Count:** 43031
**Document Hash:** d8115d2e643c03ccf45063f9551b52e6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-259837.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0001193125-26-259837

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20260605

**DATE AS OF CHANGE**: 20260605

**EFFECTIVENESS DATE**: 20260605

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INNIO N.V.
- **CENTRAL INDEX KEY:** 0002109150
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTORS & GENERATORS [3621]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 2M
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-296562
- **FILM NUMBER:** 261069996

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NYMPHENBURGER STRASSE 5, 80335
- **CITY:** MUNICH
- **PROVINCE COUNTRY:** 2M
- **ZIP:** 00000
- **BUSINESS PHONE:** 43 6664 80833 3230

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NYMPHENBURGER STRASSE 5, 80335
- **CITY:** MUNICH
- **PROVINCE COUNTRY:** 2M
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INNIO Group Holding B.V.
- **DATE OF NAME CHANGE:** 20260603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INNIO Holding GmbH
- **DATE OF NAME CHANGE:** 20260203

**As filed with the Securities and Exchange Commission on June 5, 2026**

**Registration No. 333-** 

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER*** 

***THE SECURITIES ACT OF 1933*** 

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**INNIO N.V.**

**(Exact name of registrant as specified in its charter)** 

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| | |
|:---|:---|
| **The Netherlands** | **Not Applicable** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(IRS Employer**<br>**Identification No.)** |

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**Nymphenburger Strasse 5**

**80335 Munich, Germany**

**+49.89.89.82.7221**

**(Address, including zip code of Principal Executive Offices)** 

**2026 Incentive Award Plan**

**(Full title of the plan)** 

**INNIO Holding Inc.**

**Authorized U.S. Representative**

**1101 W. St. Paul Ave.**

**Waukesha, WI 53188**

**+1.262.547.3311**

**(Name, address and telephone number, including area code, of agent for service)** 

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***Copy to:*** 

**Marc D. Jaffe**

**Ian D. Schuman**

**Oliver Seiler**

**Jennifer M. Gascoyne**

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**Latham & Watkins LLP**

**1271 Avenue of the Americas**

**New York, NY 10020**

**(212) 906-1200**

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act of 1934, as amended (the "<u>Exchange Act</u>").

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Large accelerated filer | ☐ | Accelerated filer  | ☐ |
| &nbsp;&nbsp;&nbsp;Non-accelerated filer | ☒ | Smaller reporting company | ☐ |
|  |  | Emerging growth company | ☐ |

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

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**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

**Item 1. Plan Information.** 

Not required to be filed with this Registration Statement.

**Item 2. Registrant Information and Employee Plan Annual Information.** 

Not required to be filed with this Registration Statement.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The following documents filed or to be filed (other than portions of those documents furnished or otherwise not deemed filed) by the Company with the Securities and Exchange Commission (the "<u>Commission</u>") are incorporated into this Registration Statement by reference, as of their respective dates:

(1) The Company's prospectus filed with the Commission pursuant to Rule [<u>424(b)</u>](https://www.sec.gov/Archives/edgar/data/2109150/000119312526256992/liberty_-_424b4.htm) under the Securities Act, which relates to the registration statement on Form S-1, as amended (File No. 333-295751), and all amendments to such registration statement; and

(2) The description of the Company's Common Shares contained in the Company's Registration Statement on [<u>Form 8-A</u>](https://www.sec.gov/Archives/edgar/data/2109150/000119312526256364/liberty_-_8-a.htm) dated June 4, 2026 (File No. 001-43329) filed under the Exchange Act, including any amendment or report filed for the purpose of updating such description.

All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Exchange Act subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities then remaining unsold shall be deregistered, shall be deemed to be incorporated by reference in the Registration Statement and to be a part thereof from the date of the filing of such documents.

For purposes of this Registration Statement and the related prospectus, any statement contained in a document incorporated or deemed to be incorporated by reference shall be deemed to be modified or superseded to the extent that a statement contained herein or in a subsequently filed document which also is or is deemed to be incorporated herein by reference modifies or replaces such statement. Any statement so modified shall not be deemed in its unmodified form to constitute part of this Registration Statement or the related prospectus.

**Item 4. Description of Securities.** 

Not applicable.

**Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

**Item 6. Indemnification of Directors and Officers.**

Under Dutch law, our directors may be held liable for damages in the event of improper or negligent performance of their duties. They may be held liable for damages to our company and to third parties for infringement of our articles

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of association or of certain provisions of Dutch law. In certain circumstances, they may also incur other specific civil and criminal liabilities. Subject to certain exceptions, our articles of association provide for indemnification of our current and former directors and other current and former officers and employees as designated by our board of directors. No indemnification under our articles of association shall be given to an indemnified person: (a) if a competent court or arbitral tribunal has established, without having (or no longer having) the possibility for appeal, that the acts or omissions of such indemnified person that led to the financial losses, damages, expenses, suit, claim, action or legal proceedings as described above are of an unlawful nature (including acts or omissions which are considered to constitute malice, gross negligence, intentional recklessness and/or serious culpability attributable to such indemnified person); (b) to the extent that his or her financial losses, damages and expenses are covered under insurance and the relevant insurer has settled, or has provided reimbursement for, these financial losses, damages and expenses (or has irrevocably undertaken to do so); (c) in relation to proceedings brought by such indemnified person against our company, except for proceedings brought to enforce indemnification to which he or she is entitled pursuant to our articles of association, pursuant to an agreement between such indemnified person and our company which has been approved by our board of directors or pursuant to insurance taken out by our company for the benefit of such indemnified person; and (d) for any financial losses, damages or expenses incurred in connection with a settlement of any proceedings effected without our prior consent.

Under our articles of association, our board of directors may stipulate additional terms, conditions and restrictions in relation to the indemnification described above. Reference is also made to the underwriting agreement, a form of which was filed with the Form S-1 for the Company's initial public offering, which provides for the indemnification of officers, directors and controlling persons of the Company, within the meaning of the Securities Act against certain liabilities.

See also the Undertakings set forth in the response to Item 9 herein.

**Item 7. Exemption from Registration Claimed.** 

Not applicable.

**Item 8. Exhibits.** 

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| | |
|:---|:---|
| **Exhibit <br>Number** | **Exhibit Index** |
| 4.1 | [<u>Articles of Association of the Company (incorporated by reference to Exhibit 3.1 to the Company's Registration Statement on Form S-1 (File No. 333-295751), filed with the Commission)</u>](https://www.sec.gov/Archives/edgar/data/2109150/000119312526237848/ck0002109150-ex3_1.htm) |
| 5.1\* | [<u>Opinion of NautaDutilh N.V.</u>](inio-ex5_1.htm) |
| 23.1\* | [<u>Consent of KPMG AG Wirtschaftsprüfungsgesellschaft</u>](inio-ex23_1.htm) |
| 23.2\* | [<u>Consent of NautaDutilh N.V. (included in Exhibit 5.1)</u>](inio-ex5_1.htm) |
| 24.1\* | [<u>Power of Attorney (included on the signature page hereto)</u>](#signatures) |
| 99.1 | [<u>2026 Incentive Award Plan (incorporated by reference to Exhibit 10.2 to the Company's Registration Statement on Form S-1 (File No. 333-295751), filed with the Commission)</u>](https://www.sec.gov/Archives/edgar/data/2109150/000119312526237848/ck0002109150-ex10_2.htm) |
| 99.2 | [<u>Form of Option Grant Notice and Award Agreement under the INNIO N.V. 2026 Incentive Award Plan (incorporated by reference to Exhibit 10.13 to the Company's Registration Statement on Form S-1 (File No. 333-295751), filed with the Commission)</u>](https://www.sec.gov/Archives/edgar/data/2109150/000119312526237848/ck0002109150-ex10_13.htm) |

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| | |
|:---|:---|
| 99.3 | [<u>Form of RSU Grant Notice and Award Agreement under the INNIO N.V. 2026 Incentive Award Plan (incorporated by reference to Exhibit 10.14 to the Company's Registration Statement on Form S-1 (File No. 333-295751), filed with the Commission)</u>](https://www.sec.gov/Archives/edgar/data/2109150/000119312526249005/ck0002109150-ex10_14.htm) |
| 107\* | [<u>Filing Fee Table</u>](inio-exfiling_fees.htm) |
| \* Filed herewith.  | \* Filed herewith.  |

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**Item 9. Undertakings.** 

A. The Company hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement;

(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;

*Provided, however,* that paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the Registration Statement is on Form S-8, and the information required to be included in the post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

B. The undersigned Company hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

C. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Munich, Federal Republic of Germany, on this 5th day of June, 2026.

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| | |
|:---|:---|
| **INNIO N.V.** | **INNIO N.V.** |
| By: | /s/ Olaf Berlien |
| Name: | Dr. Olaf Berlien |
| Title: | President and Chief Executive Officer |

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**POWER OF ATTORNEY** 

KNOW ALL MEN AND WOMEN BY THESE PRESENTS, that each person whose signature appears below hereby severally constitutes and appoints each of the Company's Chief Executive Officer and Chief Financial Officer (currently Dr. Olaf Berlien and Dr. Dennis Schulze, respectively) as such person's true and lawful attorney-in-fact and agent, each acting alone, with full power of substitution and resubstitution, for and in such person's name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement and all documents relating thereto, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Commission, granting unto such attorneys-in-fact and agents, each acting alone, full power and authority to do and perform each and every act and thing necessary or advisable to be done in and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that such attorneys-in-fact and agents, each acting alone, or such person's substitute or substitutes, lawfully may do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated on June 5, 2026.

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| | |
|:---|:---|
| **Signature** | **Title** |
| /s/ Olaf Berlien | Chief Executive Officer and Executive Director<br>(Principal Executive Officer) |
| Dr. Olaf Berlien |  |
| /s/ Dennis Schulze | Chief Financial Officer and Executive Director<br>(Principal Financial Officer<br>and Principal Accounting Officer) |
| Dr. Dennis Schulze |  |
| /s/ Tom Linebarger | Non-Executive Director and Chairperson of the Board |
| Tom Linebarger |  |
| /s/ Lee Banks | Non-Executive Director |
| Lee Banks |  |
| /s/ Abhishek Chauhan | Non-Executive Director |
| Abhishek Chauhan |  |
| /s/ Nicoletta Giadrossi | Non-Executive Director |
| Nicoletta Giadrossi |  |

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| | |
|:---|:---|
| /s/ Stefan Klebert | Non-Executive Director |
| Stefan Klebert |  |
| /s/ Ranjan Sen | Non-Executive Director |
| Ranjan Sen |  |
| /s/ Karin Sonnenmoser | Non-Executive Director |
| Karin Sonnenmoser |  |
| /s/ Rainer Thuerbach | Non-Executive Director |
| Rainer Thuerbach |  |
| /s/ Chris Yetman | Non-Executive Director |
| Chris Yetman |  |

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## Exhibit 5.1

**Exhibit 5.1**

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| | | |
|:---|:---|:---|
| ATTORNEYS • CIVIL LAW NOTARIES • TAX ADVISERS | ![img22032069_0.jpg](img22032069_0.jpg) | ![img22032069_0.jpg](img22032069_0.jpg) |
| P.O. Box 7113<br>1007 JC Amsterdam<br>Beethovenstraat 400<br>1082 PR Amsterdam<br>T +31 20 71 71 000<br>F +31 20 71 71 111 |  | Amsterdam, June 5 2026. |

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To the Company:

We have acted as legal counsel as to Dutch law to the Company in connection with the Plan and the filing of the Registration Statement with the SEC. This opinion letter is rendered to you in order to be filed with the SEC as an exhibit to the Registration Statement.

Capitalised terms used in this opinion letter have the meanings set forth in Exhibit A to this opinion letter. The headings used in this opinion letter are for convenience of reference only and are not to affect its construction or to be taken into consideration in its interpretation.

This opinion letter is strictly limited to the matters stated in it and may not be read as extending by implication to any matters not specifically referred to in it. Nothing in this opinion letter should be taken as expressing an opinion in respect of any representations or warranties, or other information, contained in any document reviewed by us in connection with this opinion letter.

In rendering the opinions expressed in this opinion letter, we have reviewed and relied upon a draft of the Registration Statement and pdf copies of the Plan and the Corporate Documents and we have assumed that Awards under the Plan shall be made for bona fide commercial reasons. We have not investigated or verified any factual matter disclosed to us in the course of our review.

This opinion letter sets out our opinion on certain matters of the laws with general applicability of the Netherlands, and, insofar as they are directly applicable in the Netherlands, of the European Union, as at today's date and as presently interpreted under published authoritative case law of the Dutch courts, the General Court and the Court of Justice of the European Union. We do not express any opinion on Dutch or European competition law, data protection law, tax law, securitisation law or regulatory law. No undertaking is assumed on our part to revise, update or amend this opinion letter in connection with, or to notify or inform you of, any developments and/or changes of Dutch law subsequent to today's date. We do not purport to opine on the consequences of amendments to the Plan, the Registration Statement or the Corporate Documents subsequent to the date of this opinion letter.

The opinions expressed in this opinion letter are to be construed and interpreted in accordance with Dutch law. The competent courts at Amsterdam, the Netherlands, have exclusive jurisdiction to settle any issues of interpretation or liability arising out of or in connection with this opinion letter. Any legal relationship arising out of or in connection with this opinion letter (whether contractual or non-contractual), including the above submission to jurisdiction, is governed by Dutch law and shall be subject to the general terms and conditions of NautaDutilh. Any liability arising out of or in connection with this opinion letter shall be limited to the amount which is paid out under NautaDutilh's insurance policy in the matter concerned. No person other than NautaDutilh may be held liable in connection with this opinion letter.

In this opinion letter, legal concepts are expressed in English terms. The Dutch legal concepts concerned may not be identical in meaning to the concepts described by the English terms as they exist under the law of other jurisdictions. In the event of a conflict or inconsistency, the relevant expression shall be deemed to refer only to the Dutch legal concepts described by the English terms.

All legal relationships are subject to NautaDutilh N.V.'s general terms and conditions (see https://www.nautadutilh.com/terms), which apply mutatis mutandis to our relationship with third parties relying on statements of NautaDutilh N.V., include a limitation of liability clause, have been filed with the Rotterdam District Court and will be provided free of charge upon request. NautaDutilh N.V.; corporate seat Rotterdam; trade register no. 24338323.

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| | |
|:---|:---|
| ![img22032069_1.jpg](img22032069_1.jpg) | ![img22032069_1.jpg](img22032069_1.jpg) |
|  | 2 |

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For the purposes of this opinion letter, we have assumed that:

a.each copy of a document conforms to the original, each original is authentic, and each signature is the genuine signature of the individual purported to have placed that signature;

b.if any signature under any document is an electronic signature (as opposed to a handwritten ("wet ink") signature) only, it is either a qualified electronic signature within the meaning of the eIDAS Regulation, or the method used for signing is otherwise sufficiently reliable;

c.the Registration Statement has been or will be filed with the SEC in the form reviewed by us;

d.at each Relevant Moment, (i) Common Shares shall have been admitted for trading on a trading system outside the European Economic Area comparable to a regulated market or a multilateral trading facility as referred to in Section 2:86c(1) DCC and (ii) no financial instruments issued by the Company (or depository receipts for or otherwise representing such financial instruments) have been admitted to trading on a regulated market, multilateral trading facility or organised trading facility operating in the European Economic Area (and no request for admission of any such financial instruments to trading on any such trading venue has been made);

e.the Company has been duly incorporated as a *Gesellschaft mit beschränkter Haftung* pursuant to the laws of Germany;

f.all factual factual statements made and the confirmations given in the Pre-Conversion Certificate are complete and correct;

g.the Current Articles are the Articles of Association currently in force and as they will be in force at each Relevant Moment;

h.at each Relevant Moment, the authorised share capital (*maatschappelijk kapitaal*) of the Company shall allow for the grant of Awards and the issuance of Plan Shares pursuant to the exercise or settlement thereof;

i.at each Relevant Moment, the Company will not have (i) been dissolved (*ontbonden*), (ii) ceased to exist pursuant to a merger (*fusie*) or a division (*splitsing*), (iii) been converted (*omgezet*) into another legal form, either national or foreign (except pursuant to the B.V. Deed of Conversion and the Deed of Conversion), (iv) had its assets placed under administration (*onder bewind gesteld*), (v) been declared bankrupt (*failliet verklaard*), (vi) been granted a suspension of payments (*surseance van betaling verleend*), (vii) started or become subject to statutory proceedings for the restructuring of its debts (*akkoordprocedure*) or (viii) been made subject to similar proceedings in any jurisdiction or otherwise been limited in its power to dispose of its assets;

j.no Awards shall be offered to the public (*aanbieden aan het publiek*) in the Netherlands other than in conformity with the Prospectus Regulation and the rules promulgated thereunder;

k.at each Relevant Moment, the relevant Award(s) (i) shall have been validly granted as a right to subscribe for Common Shares (*recht tot het nemen van aandelen*) by the corporate body authorised to do so, (ii) shall be in full force and effect upon being exercised or settled, as applicable, (iii) shall have been validly exercised or settled, as applicable, in accordance with the terms and conditions applicable to such Award(s) and (iv) any pre-emption rights in respect of such Award(s) shall have been validly excluded by the corporate body authorised to do so; and

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| | |
|:---|:---|
| ![img22032069_1.jpg](img22032069_1.jpg) | ![img22032069_1.jpg](img22032069_1.jpg) |
|  | 3 |

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l.at each Relevant Moment, each holder of the relevant Award(s) shall be an individual who has not (i) deceased, (ii) had such individual's assets placed under administration (*onder bewind gesteld*), (iii) been declared bankrupt (*failliet verklaard*), (iv) been granted a suspension of payments (*surseance van betaling verleend*), (v) been subjected to a debt reorganisation procedure (*schuldsanering*), (vi) started or become subject to statutory proceedings for the restructuring of such individual's debts (*akkoordprocedure*) or (vii) been made subject to similar proceedings in any jurisdiction or otherwise been limited in the power to dispose of such individual's assets.

Based upon and subject to the foregoing and subject to the qualifications set forth in this opinion letter and to any matters, documents or events not disclosed to us, we express the following opinions:

**Cross-Border Conversion and Corporate Status**

1. The Company has been duly converted into a *besloten vennootschap met beperkte aansprakelijkheid* pursuant to the cross-border conversion effected by the B.V. Deed of Conversion and is validly existing as a *naamloze vennootschap*.

**Plan Shares**

2. Subject to receipt by the Company of payment in full for, or other satisfaction of the issue price of, the Plan Shares in accordance with the Plan, and when issued and accepted in accordance with the Plan, the Plan Shares shall be validly issued, fully paid and non-assessable.

The opinions expressed above are subject to the following qualifications:

A.Opinion 1 must not be read to imply that the Company cannot be dissolved (*ontbonden*). A company such as the Company may be dissolved, inter alia by the competent court at the request of the company's board of directors, any interested party (*belanghebbende*) or the public prosecution office in certain circumstances, such as when there are certain defects in the incorporation of the company. Any such dissolution will not have retro-active effect.

B.Pursuant to Section 2:7 DCC, any transaction entered into by a legal entity may be nullified by the legal entity itself or its liquidator in bankruptcy proceedings (*curator*) if the objects of that entity were transgressed by the transaction and the other party to the transaction knew or should have known this without independent investigation (*wist of zonder eigen onderzoek moest weten*). The Dutch Supreme Court (*Hoge Raad der Nederlanden*) has ruled that in determining whether the objects of a legal entity are transgressed, not only the description of the objects in that legal entity's articles of association (*statuten*) is decisive, but all (relevant) circumstances must be taken into account, in particular whether the interests of the legal entity were served by the transaction. Based on the objects clause contained in the Current Articles, we have no reason to believe that, by making Awards under the Plan, the Company would transgress the description of the objects contained in its Articles of Association. However, we cannot assess whether there are other relevant circumstances that must be taken into account, in particular whether the interests of the Company are served by making Awards under the Plan since this is a matter of fact.

C.Pursuant to Section 2:98c DCC, a company such as the Company may grant loans (*leningen verstrekken*) only in accordance with the restrictions set out in Section 2:98c DCC, and may not provide security (*zekerheid stellen*), give a price guarantee (*koersgarantie geven*) or otherwise bind itself, whether jointly and severally or otherwise with or for third parties (*zich op andere wijze sterk maken of zich hoofdelijk of anderszins naast of voor anderen verbinden*) with a view to (*met het oog op*) the subscription or acquisition by third parties of shares in its share capital or depository receipts. This prohibition also applies to its subsidiaries (*dochtervennootschappen*). It is generally assumed that a transaction entered into in violation of Section 2:98c DCC is null and void (*nietig*). Based on the content of the Plan, we have no reason to believe that the Company or its subsidiaries will violate Section 2:98c DCC in connection with the issue of Plan Shares. However, we cannot confirm this definitively, since the determination of whether a company (or a subsidiary) has provided security, has given a price guarantee or has otherwise bound itself, with a view to the subscription or acquisition by third parties of shares in its share capital or depository receipts, as described above, is a matter of fact.

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|:---|:---|
| ![img22032069_1.jpg](img22032069_1.jpg) | ![img22032069_1.jpg](img22032069_1.jpg) |
|  | 4 |

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D.The opinions expressed in this opinion letter may be limited or affected by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.rules relating to Insolvency Proceedings or similar proceedings under a foreign law and other rules affecting creditors' rights generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.the provisions of fraudulent preference and fraudulent conveyance (*Actio Pauliana*) and similar rights available in other jurisdictions to insolvency practitioners and insolvency office holders in bankruptcy proceedings or creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.claims based on tort (*onrechtmatige daad*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.sanctions and measures, including but not limited to those concerning export control, pursuant to European Union regulations, under the Dutch Sanctions Act 1977 (*Sanctiewet 1977*) or other legislation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.the Anti-Boycott Regulation, Anti Money Laundering Laws and related legislation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.any intervention, recovery or resolution measure by any regulatory or other authority or governmental body in relation to financial enterprises or their affiliated entities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.the rules of force majeure (*niet toerekenbare tekortkoming*), reasonableness and fairness (*redelijkheid en billijkheid*), suspension (*opschorting*), dissolution (*ontbinding*), unforeseen circumstances (*onvoorziene omstandigheden*) and vitiated consent (i.e., duress (*bedreiging*), fraud (*bedrog*), abuse of circumstances (*misbruik van omstandigheden*) and error (*dwaling*)) or a difference of intention (*wil*) and declaration (*verklaring*).

E.The term "non-assessable" has no equivalent in the Dutch language and for purposes of this opinion letter such term should be interpreted to mean that a holder of an Ordinary Share shall not by reason of merely being such a holder be subject to assessment or calls by the Company or its creditors for further payment on such Ordinary Share.

F.This opinion letter does not purport to express any opinion or view on the operational rules and procedures of any clearing or settlement system or agency.

We consent to the filing of this opinion letter as an exhibit to the Registration Statement. In giving this consent we do not admit or imply that we are a person whose consent is required under Section 7 of the United States Securities Act of 1933, as amended, or any rules and regulations promulgated thereunder.

Sincerely yours,

/s/ NautaDutilh N.V.

NautaDutilh N.V.

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| | |
|:---|:---|
| ![img22032069_1.jpg](img22032069_1.jpg) | ![img22032069_1.jpg](img22032069_1.jpg) |
|  | 5 |

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**EXHIBIT A**

**LIST OF DEFINITIONS**

---

| | |
|:---|:---|
| "**Anti Money Laundering Laws**" | The European Anti-Money Laundering Directives, as implemented in the Netherlands in the Money Laundering and Terrorist Financing Prevention Act (*Wet ter voorkoming van witwassen en financieren van terrorisme*) and the Dutch Criminal Code (*Wetboek van Strafrecht*). |
| "**Anti-Boycott Regulation**" | The Council Regulation (EC) No 2271/96 of 22 November 1996 on protecting against the effects of the extra-territorial application of legislation adopted by a third country, and actions based thereon or resulting therefrom. |
| "**Articles of Association**" | The Company's articles of association (*statuten*) as they read from time to time. |
| "**Awards**" | Rights to subscribe for Common Shares granted pursuant to the terms and conditions of the Plan. |
| "**Bankruptcy Code**" | The Dutch Bankruptcy Code (*Faillissementswet*). |
| **"B.V. Deed of Conversion"** | The deed of cross-border conversion and amendment dated 2 June 2026. |
| "**Commercial Register**" | The Dutch Commercial Register (*handelsregister*). |
| "**Common Shares**" | Common shares in the Company's capital, with a nominal value of EUR 0.04 each. |
| "**Company**" | INNIO N.V., a public company with limited liability (*naamloze vennootschap*), registered with the Commercial Register under number 42074282. |
| "**Corporate Documents**" | The Pre-Conversion Certificate, the B.V. Deed of Conversion, the Deed of Conversion and the Current Articles. |
| "**Current Articles**" | The Articles of Association as contained in the Deed of Conversion. |
| "**DCC**" | The Dutch Civil Code (*Burgerlijk Wetboek*). |
| "**Deed of Conversion**" | The deed of conversion and amendment to the Articles of Association dated 3 June 2026. |
| "**eIDAS Regulation**" | Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC. |
| "**Insolvency Proceedings**" | Any insolvency proceedings within the meaning of Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast), as amended by Regulation (EU) 2021/2260 of the European Parliament and of the Council of 15 December 2021, listed in Annex A thereto and any statutory proceedings for the restructuring of debts (*akkoordprocedure*) pursuant to the Bankruptcy Code. |

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| | |
|:---|:---|
| ![img22032069_1.jpg](img22032069_1.jpg) | ![img22032069_1.jpg](img22032069_1.jpg) |
|  | 6 |

---

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| | |
|:---|:---|
| "**NautaDutilh**" | NautaDutilh N.V.  |
| "**the Netherlands**" | The European territory of the Kingdom of the Netherlands and "**Dutch**" is in or from the Netherlands. |
| "**Plan**" | The 2026 Incentive Award Plan of the Company in the form attached as exhibit 99.1 to the Registration Statement. |
| "**Plan Shares**" | 11,250,000 Common Shares available for issuance under the Plan. |
| "**Pre-Conversion Certificate** " | The pre-conversion certificate issued pursuant to German law and dated 13 May 2026, relating to the Company's cross-border conversion from a *Gesellschaft mit beschränkter Haftung* into a *besloten vennootschap met beperkte aansprakelijkheid* pursuant to the B.V. Deed of Conversion. |
| "**Prospectus Regulation**" | Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC. |
| "**Registration Statement**" | The Company's registration statement on Form S-8 filed or to be filed with the SEC in the form reviewed by us. |
| "**Relevant Moment**" | Each time when one or more Awards are granted or one or more Plan Shares are issued pursuant to the exercise or settlement of the relevant Award(s). |
| "**SEC**" | The United States Securities and Exchange Commission. |

---

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## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated March 26, 2026, with respect to the consolidated financial statements of INNIO Holding GmbH, incorporated herein by reference.

/s/ KPMG AG Wirtschaftsprüfungsgesellschaft

Stuttgart, Germany

June 5, 2026

------

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **INNIO N.V.**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common shares, nominal value EUR 0.04 per share, reserved for future issuance under the Registrant's 2026 Incentive Award Plan (the "2026 Plan") | Other | 11250000 | $27.00 | $303750000.00 | 0.0001381 | $41947.88 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $303750000.00  |  | $41947.88  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $41947.88  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> (a) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement shall also cover any additional shares of common shares that become issuable under the above-named plan, by reason of any share dividend, share split, recapitalization, or other similar transaction effected without receipt of consideration that results in an increase to the number of outstanding shares of common shares, as applicable. (b) Represents 11,250,000 shares of the Registrant's common shares reserved for issuance under the 2026 Plan. The number of shares of common shares reserved for issuance under the 2026 Plan will automatically increase on January 1 of each calendar year from January 1, 2027 through (and including) January 1, 2036, by that number of shares equal to the lesser of (i) 2% of the aggregate number of shares outstanding as of the last day of the immediately preceding fiscal year and (ii) such smaller number of shares as is determined by the board of directors of the Registrant. (c) Estimated solely for purposes of calculating the registration fee pursuant to Rules 457(c) and 457(h) under the Securities Act based upon the initial public offering price of the common shares, which was equal to $27.00.

---

| |
|:---|
| |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

---