HydrogenPro ASA

Declaration of Voting Results & Voting Rights Announcements • May 23, 2023

HydrogenPro ASA - Disclosure of voting proxies at the annual general meeting

HydrogenPro ASA - Disclosure of voting proxies at the annual general meeting

Oslo, 23 May 2023: Reference is made to the stock exchange announcement by

HydrogenPro ASA (the "Company") on 3 May 2023 with notice of the annual general

meeting to be held on 24 May 2023 (the "AGM").

In connection with the AGM, Terje Mikalsen has on 21 May 2023 received proxies

without voting instructions for a total of 14 597 696 shares, corresponding to

approx. 25.16% of the outstanding shares and votes in the Company. Mr. Mikalsen

also controls 100% of the shares in TM Holding AS, a company holding 9 635 182

shares in the Company, corresponding to approx. 16.6% of the outstanding shares

and votes. Consequently, Mr. Mikalsen will vote for a total of 24 232 878 shares

at the AGM, corresponding to an aggregate of 41.76% of the outstanding shares

and votes in the Company, and will exceed the 1/3 threshold pursuant to section

4-2 of the Norwegian Securities Trading Act, cf. section 4-4.

The proxies without voting instructions have been granted by Richard Espeseth

for his 11 424 125 shares in the Company, corresponding to approx. 19.69% of the

outstanding shares and votes, and by member of the board of directors, Vivian

Espeseth, for her 3 173 571 shares in the Company, corresponding to

corresponding to approx. 5.47% of the outstanding shares and votes.

Mr. Mikalsen further holds 163 005 share options through TM Holding AS. Neither

Mr. Espeseth nor Ms. Espeseth hold any rights to shares in HydrogenPro ASA.

The voting proxies are only valid for the AGM on 24 May 2023.

This information is subject to the disclose requirements pursuant to sections 4

-2 and 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Martin Thanem Holtet, CFO, +47 922 44 902

Ida Eilertsen Nygård, Head of Investor Relations and ESG, +47 986 11 952

ir@hydrogen-pro.com

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.