HydrogenPro ASA

Director's Dealing • Jul 15, 2021

Mandatory notification of trades by primary insiders

Mandatory notification of trades by primary insiders

Porsgrunn, 15 July 2021. HydrogenPro (OSE: HYPRO) – the following share purchases have been made by primary insiders:

- Richard Espeseth, board member and CBDO, has today bought 34 644 shares at a price of NOK 20.48 per share. After this transaction Richard Espeseth holds 11 401 125 shares in HydrogenPro AS.

- Terje Mikalsen, board member, has through TM Holding AS today bought 50 000 shares at a price of NOK 20.53 per share. After this transaction Terje Mikalsen, through TM Holding AS, holds 9 635 182 shares in HydrogenPro AS.

Please refer to the attached notification of trading for further details.

For more information, please contact:

Mårten Lunde, CEO, +47 48 14 84 51, marten@hydrogen-pro.com

Martin T. Holtet, CFO, +47 92 24 49 02, martin@hydrogen-pro.com

HydrogenPro in brief:

HydrogenPro designs and supplies customized hydrogen plants in cooperation with global partners and suppliers, all ISO 9001 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 our 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.

This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act § 5-12 and Regulation EU 596/2014 (MAR) article 19 number 3.