HydrogenPro ASA

Notice of Extraordinary General Meeting

Porsgrunn, Norway, 26 August 2022 - HydrogenPro AS (OSE-ticker: HYPRO) hereby

summons for an extraordinary general meeting (the "EGM") to be held in order to

convert the company from a private limited liability company (AS) to a public

limited liability company (ASA) in connection with the contemplated up-listing

to Oslo Stock Exchange's main list from Euronext Growth Oslo. Other items

required or deemed necessary to be resolved in connection with the contemplated

up-listing is also included in the proposed agenda.

The EGM will be held at Henrik Ibsens gate 100, 0255 Oslo, Norway at 10:00 CEST

on 5 September 2022, however with the possibility to attend online. Participants

attending online will not be able to cast votes digitally, and the Company

requests that voting proxies (appended hereto) are submitted in advance of the

EGM. The EGM notice, including the Board of Director's proposed resolutions for

the items listed on the agenda and appendices, is enclosed to this stock

exchange notice.

For more information, please contact:

Richard Espeseth, interim CEO, +47 958 43 007

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

About HydrogenPro:

HydrogenPro designs and supplies customized hydrogen plants in cooperation with

global partners and suppliers, all ISO 9001, ISO 45001 and ISO 14001 certified.

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.

Our core product is the alkaline high-pressure electrolyser. With the new

electrode technology, we are able to increase the efficiency of each unit by 14%

to reach 93% of the theoretical maximum. This is a significant step forward as

the cost of electric power, depending on market prices, amounts to 70-90% of the

cost of producing hydrogen, the value of such increased efficiency equals

approximately the investment cost for the entire plant in a Total Cost of

Operation perspective. The Company is targeting a production cost for green

hydrogen of USD 1.2 per kg in 2022.

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