Knox Energy Solutions AS

HYON AS - Grant of share options

As part of Hyon's long-term incentive program for senior executives and key

employees discussed in guidelines for executive pay, today 1 April 2022, 2

900,000 options have been granted to 7 key employees.

Each option gives the right to buy one share in Hyon AS.

The exercise price for the options is set at NOK 3.5, NOK 5.1 and NOK 7,

respectively.

The vesting period is 24 months, 36 months and 48 months after the date of

employment, respectively.

The options lapse if they have not been exercised within 2 years from the date

of vesting.

The earliest time of exercise for key employees is January 1, 2024

Primary insider granted options:

Jan Frode Andersen, CFO, 500,000 options

For further information, please contact: Jørn Kristian Lindtvedt, CEO, +47 952

70739 or Jan Frode Andersen, CFO +47 9822 8115

About Hyon | https://hyon.energy/

Hyon AS delivers fast and safe bunkering of hydrogen for ships. We make sure

that hydrogen can be transferred from shore to ships, both as a stand-alone

fueling solution and as an integrated solution combining production, storage and

distribution on a barge. HYON was founded in 2017, is headquartered in Oslo,

Norway and is backed by owners including Saga Pure, Norwegian Hydrogen and Nel.

HYON is on a mission to accelerate the energy transition in the maritime sector,

aiming to be the leading provider to bunkering solutions for hydrogen.

This stock exchange notice is subject to the disclosure requirements in Section

5-12 of the Norwegian Securities Trading Act. This stock exchange release was

published by Jan Frode Andersen, CFO at 1 April 2022.

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