Cavendish Hydrogene

Cavendish Hydrogen ASA exits South Korea

Oslo, September 30, 2025 -- Cavendish Hydrogen ASA (Cavendish, Oslo Børs

Ticker: CAVEN) announces its decision to exit the South Korean market as part

of a strategic alignment. Despite offering market-leading solutions, the

company has faced persistent challenges in achieving commercial traction in a

region dominated by local players. Hence, Cavendish sees limited possibilities

to establish a sustainable position in the South Korean market.

This decision follows a thorough evaluation of Cavendish's global footprint

and is aimed at reducing operational complexity and costs, as well as focusing

resources on where the outlook is strongest. To protect and enhance

shareholder value, strategic focus will be directed toward markets where

demand, competitiveness, and growth potential are most aligned with the

company's strengths.

"This has been a difficult decision, especially considering the continued

dedication of our very competent team in South Korea. We are deeply grateful

for their efforts and professionalism over the years. While this marks the end

of our current journey in one market, it strengthens our ability to deliver

value in others", says CEO Robert Borin.

Customers in the remaining geographies will continue to receive full support

and access to our solutions, with no disruption to service or delivery.

Cavendish remains in solid position to support continued growth and innovation

across its core markets.

For further information, please contact:

Mirza Koristovic, Head of Investor Relations

+47 938 70 525

This information has been submitted pursuant to the Securities Trading Act §

5-12 and MAR Article 17. The information was submitted for publication at

2025-09-30 08:55 CEST.

About Cavendish Hydrogen ASA | www.cavendishh2.com

Cavendish Hydrogen is a global leader in hydrogen fueling solutions for the

mobility sector. Driven by the vision to end emission from mobility, Cavendish

is committed to providing safe, competitive, and reliable hydrogen fueling

solutions, offering the convenience of traditional fuels but with zero

emissions. The company covers the entire value chain from development and

production to installation, commissioning, and maintenance. Through value

creation and cutting-edge technology, Cavendish is setting new standards for

fueling heavy-duty vehicles with reliable hydrogen solutions. Cavendish

Hydrogen ASA is listed on the Oslo Stock Exchange (CAVEN) and headquartered in

Herning, Denmark.

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