HydrogenPro ASA

M&A Activity • Nov 27, 2025

HydrogenPro acquires full ownership of manufacturing site in Tianjin, China

[27 November 2025] – HydrogenPro ASA (OSE: HYPRO) has reached an agreement with Tianjin Miaoqing Machinery Equipment Co., Ltd. to acquire 25 per cent shares of HydrogenPro Tianjin, bringing HydrogenPro's ownership position from 75 per cent to 100 per cent.

The consideration in the transaction consists of CNY 3 million in cash plus equipment valued at approx. CNY 1.8 million.

After the original agreement signed in November 2021, where HydrogenPro acquired 75 per cent, the site has been through several upgrades with focus on quality improvement and advanced systems, increasing manufacturing capacity to approx. 500 MW p.a.The plant has, among others, manufactured electrolyzer systems for two of the world's largest green hydrogen projects.

"This transaction is in line with HydrogenPro's strategy of streamlining operations. We are pleased to secure full ownership of the plant, which is a very cost-efficient set-up with capacity to deliver on large projects. The plant is already controlled and operated by HydrogenPro. HydrogenPro is, as previously communicated, in dialog with LONGi under the joint cooperation agreement about optimization of manufacturing footprint and further synergy recognition." said Jarle Dragvik, CEO of HydrogenPro.

The completion of the transaction is contingent upon receiving approval by Chinese authorities.

For further information, please contact:

Martin Thanem Holtet, CFO +47 922 44 902 martin.holtet@hydrogenpro.com

About HydrogenPro:

HydrogenPro, established in 2013, specialises in pioneering green hydrogen technology solutions through partnerships with global collaborators and suppliers. Our flagship products are high-pressure alkaline electrolysers, incorporating some of the most advanced technology available. As an OEM, we provide high-pressure alkaline electrolysers and supply large-scale green hydrogen plants, all certified to ISO 9001, ISO 45001, and ISO 14001 standards. Our experienced engineering team consists of leading industry experts, drawing upon unparalleled knowledge and expertise in the hydrogen and renewable energy sectors.

For more information, visit www.hydrogenpro.com

Press Release 27 November 2025 19:17:00 CET

This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR Article 17. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-11-27 19:17 CET.