Cavendish Hydrogene

Declaration of Voting Results & Voting Rights Announcements • Jun 12, 2024

Cavendish Hydrogen ASA: Mandatory notifications of trade and shareholder disclosure notification

Cavendish Hydrogen ASA: Mandatory notifications of trade and shareholder disclosure notification

Oslo, 12 June 2024: Reference is made to the stock exchange announcements by Nel ASA ("Nel", OSE: NEL) and Cavendish Hydrogen ASA ("Cavendish", OSE: CAVEN) on 6 June 2024 regarding the distribution of shares in Cavendish to the shareholders of Nel (the "Distribution"), and the stock exchange announcement by Cavendish on 12 June 2024 regarding the first day of trading of Cavendish's shares on the Oslo Stock Exchange.

The following primary insiders of Cavendish will receive shares in Cavendish in connection with the Distribution:

– Jon André Løkke, Chair of the Board of Directors, will receive 2,000 shares; and

– Marcus Halland, Chief Financial Officer, will receive 4,723 shares.

Please see the enclosed forms for further details.

Furthermore, in connection with the Distribution, Nel's shareholding in Cavendish of in total 33,618,145 shares (representing 100% of the issued shares and voting rights in Cavendish), will be reduced with 33,417,965 shares, as distributed to the relevant Nel shareholders. Consequently, following completion of the Distribution expected later today, 12 June 2024, Nel will own 200,180 shares, representing approximately 0.60% of the issued shares and voting rights in Cavendish, and will thereby cross below the thresholds pursuant to section 4-2 of the Norwegian Securities Trading Act. Nel is not ultimately controlled by any natural person or legal entity and has no rights to further shares in Cavendish.

The shares in Cavendish held by Nel are intended to be transferred to Cavendish without consideration when appropriate following completion of the Distribution and be held by Cavendish as treasury shares.

This information is subject to the disclosure requirements in article 19 of the EU Market Abuse Regulation (596/2014) and sections 4-2 and 5-12 of the Norwegian Securities Trading Act.

About Cavendish Hydrogen ASA:

Cavendish Hydrogen ASA is a leading hydrogen fueling company that specializes in the development, production, marketing, sales and service of equipment for fueling hydrogen into on-road vehicles. The company operates globally with offices in Denmark, California (the U.S), South Korea and Austria. The ongoing focus of the company is to develop its product portfolio to meet the expected market expansion for long-distance heavy-duty trucking. For more information, please visit https://cavendishh2.com/.