HydrogenPro ASA

HydrogenPro ASA: Grant of share options

20 December 2023: In line with the terms adopted by the Annual General Meeting

of HydrogenPro ASA, the Board of Directors has awarded a total of 400,000 share

options to the following primary insider:

CEO Jarle Dragvik: 400,000

Each share option gives the right to subscribe for and be allotted one share in

HydrogenPro ASA. The strike price of the options was set to NOK 20.95 per share

based on the closing price on 8 August 2023. The share options will lapse if not

exercised by 8 August 2029. The option grant is divided into four tranches

whereby 25% vests in year one, 25% in year 2, 25% in year 3, and 25% in year 4.

The options start vesting 12 months from date of grant. Reference is made to the

attached notification of trading for further details.

This information is subject of the disclosure requirements pursuant to article

19 of the EU Market Abuse Regulation and section 5 -12 of the Norwegian

Securities Trading Act.

Martin T. Holtet, CFO +47 92 24 49 02, [email protected]

About HydrogenPro:

HydrogenPro is a technology company and an OEM for high pressure alkaline

electrolyser and supplies large scale green hydrogen technology & systems. The

Company was founded in 2013 by individuals with background from the electrolysis

industry which was established in Telemark, Norway by Norsk Hydro in 1927. We

are an experienced engineering team of leading industry experts, drawing upon

unparalleled experience and expertise in the hydrogen and renewable energy

industry.

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