HydrogenPro ASA

HydrogenPro ASA - Transactions by primary insiders or closely associated parties of a primary insider

Oslo, 13 June 2023: Reference is made to the stock exchange announcement by

HydrogenPro ASA ("HYPRO" or the "Company") on 13 June 2023 regarding the

successful placing of a private placement of new and existing shares (the "Offer

Shares") with gross proceeds of NOK 126 million (the "Private Placement").

TM Holding AS and Richard Espeseth have entered into an agreement to lend a

total number of 5,000,000 shares to Pareto Securities AS, Bryan, Garnier & Co

Limited, and Bryan Garnier Securities in order to facilitate settlement on a

delivery versus payment basis in the Private Placement. Respectively, TM Holding

AS has lent 2,500,000 shares and Richard Espeseth has lent 2,500,000 shares.

Further, and as part of the Private Placement, a total of 250,000 existing

shares will be sold by Richard Espeseth and Vivian Yanjin Chen Espeseth. The

secondary share sale will be made pursuant to a secondary share sale agreement

entered into between Richard Espeseth, Vivian Yanjin Chen Espeseth, Pareto

Securities AS and Bryan, Garnier & Co Limited (and any related affiliated

entities). Pursuant to the secondary share sale agreement, 166,667 shares will

be sold on behalf of Richard Espeseth and 83,333 shares on behalf Vivian Yanjin

Chen Espeseth

Please see the attached forms for further details.

For additional information, please contact:

Martin Thanem Holtet, Chief Financial Officer

Phone: +47 922 44 902

Ida Eilertsen Nygård, Head of Investor Relations and ESG

Phone: +47 986 11 952

About HydrogenPro ASA

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

electrolysers 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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