Green Hydrogen Systems — AGM Information 2023

Apr 18, 2023

Company announcement 10/2023

Green Hydrogen Systems' Annual General Meeting on 18 April 2023

The Annual General Meeting of Green Hydrogen Systems A/S was held today, 18 April 2023.

Agenda and resolutions

• 1. The Board of Directors' report on the Company's activities in the past financial year The Annual General Meeting took note of the Board of Directors' report.
• 1. Presentation and adoption of the Annual Report The Annual Report for the financial year 2022 was adopted.
• 1. Appropriation of loss as recorded in the adopted annual report The Board of Directors' proposal to retain the loss for 2022 in accordance with the annual report for 2022 was adopted.
• 1. Presentation and adoption of the remuneration report for 2022 The Annual General Meeting adopted the remuneration report for the financial year 2022.
• 1. Resolution to grant discharge of liability to the Board of Directors and the Executive Management

The Annual General Meeting adopted the proposal to grant discharge of liability to the Board of Directors and Executive Management.

6. Approval of the Board of Directors' fees for the current financial year

The following level of remuneration for 2023, which is identical to the Board of Directors' remuneration level for 2022, was approved:

Position	Base fee multiple DKK 300,000	Fee (DKK)
Member of the Board of Directors	1x	300,000
Chairperson of the Board of Directors	2.5x	750,000
Vice chairperson of the Board of Directors	1.5x	450,000
Member of the Audit Committee	1/3x	100,000
Chairperson of the Audit Committee	2/3x	200,000
Member of the Manufacturing & Technology Committee	1/3x	100,000
Chairperson of the Manufacturing & Technology Committee	2/3x	200,000
Member of the Remuneration and Nomination Committee	1/4x	75,000
Chairperson of the Remuneration and Nomination Committee	1/3x	100,000

7. Election of members to the Board of Directors

The following individuals were re-elected as members of the Board of Directors:

• Christian Clausen
• Troels Øberg
• Lars Valsøe Bertelsen

• Karen Dyrskjøt Boesen

• Simon Krogsgaard Ibsen

• Armin Schnettler
• Anders Jakob Vedel

As new member of the Board of Directors, the Annual General Meeting elected:

• Poul Due Jensen
• 1. Election of auditor

PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab, CVR no. 33771231, was reelected as auditor of the Company.

• 1. Proposals from the Board of Directors:
• 9(a) Proposal to update the Remuneration Policy The Annual General Meeting adopted the updated Remuneration Policy.
• 9(b) Update of authorisation to the Board of Directors to increase the share capital without pre-emption rights for existing shareholders

The Annual General Meeting adopted the authorisation to the Board of Directors to increase the share capital without pre-emption rights for existing shareholders. The authorisation will apply up to and including 17 April 2028.

• 9(c) Authorisations to the Board of Directors to issue bonds or other debt instruments with access to conversion to shares (convertible loans) with and without pre-emption rights for existing shareholders and to issue warrants without pre-emption rights for existing shareholders The Annual General Meeting adopted the authorisations to the Board of Directors to issue bonds or other debt instruments with access to conversion to shares (convertible loans) with and without pre-emption rights for existing shareholders and to issue warrants without pre-emption rights for existing shareholders. The authorisations will apply up to and including 17 April 2024.
• 9(d) Specific authorisation to the Board of Directors to increase the share capital with pre-emption rights for existing shareholders and deletion of existing authorisation to increase the share capital with pre-emption rights

The Annual General Meeting adopted the specific authorisation to the Board of Directors to increase the share capital with pre-emption rights for existing shareholders and the deletion of existing authorisation to increase the share capital with pre-emption rights. The authorisation will apply up to and including 31 December 2023.

After the Annual General Meeting, the Board of Directors held its constituting board meeting. At the meeting, Christian Clausen was re-elected as chairman of the Board of Directors and Troels Øberg was re-elected as vicechairman of the Board of Directors.

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For more info please contact:

Investors: Jens Holm Binger, Head of Investor Relations, +45 6065 6525, jhb@greenhydrogen.dk

Media: Jesper Buhl, Head of Public Affairs and Media Relations, +45 5351 5295, jbu@greenhydrogen.dk

Green Hydrogen Systems in brief

Green Hydrogen Systems is a clean technology company and a leading provider of standardised and modular electrolysers for the production of green hydrogen solely based on renewable energy. With its wide range of possible applications, green hydrogen plays a key role in the ongoing fundamental shift in our energy systems towards a net-zero emission society in 2050. As a result, the demand for green hydrogen is surging, requiring a significant scale-up of electrolysis capacity. Founded in 2007 and building on more than 15 years of technology development, Green Hydrogen Systems today have a commercially proven and cost-competitive electrolysis technology endorsed by leading green energy companies.

Source: Green Hydrogen Systems Ticker: GREENH Tag: Company announcement