Hexagon Composites — AGM Information 2016

Nov 23, 2016

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PROTOKOLL	MINUTES
FRA	FROM
EKSTRAORDINÆR GENERALFORSAMLING	EXTRAORDINARY GENERAL MEETING
I	OF
HEXAGON COMPOSITES ASA	HEXAGON COMPOSITES ASA
Org.nr. 938 992 185	Reg. No. 938 992 185
uoverensstemmelser mellom de to versjonene, skal den norske versjonen ha forrang.)	(Denne protokollen er utarbeidet både på norsk og engelsk. Ved (These minutes have been prepared in both Norwegian and English. In case of variation in the content of the two versions, the Norwegian version shall prevail.)
Ekstraordinær generalforsamling $\mathbf i$ Composites ASA ("Hexagon Composites" "Selskapet") ble avholdt:	Hexagon An Extraordinary General Meeting in Hexagon eller Composites ASA ("Hexagon Composites" or the "Company") was held:
Tid: Onsdag 23. november 2016, kl. 13:00	Wednesday 23 November 2016 at 13:00 (CET) Time:
Sted: Selskapets lokaler i Korsegata 4B, N-6002 Ålesund.	Place: The Company's office at Korsegata 4B, N-6002 Aalesund, Norway.
Følgende saker var på dagsorden:	The following matters were on the agenda:
ÅPNING AV MØTET VED STYRETS LEDER, OG 1. 1. REGISTRERING AV FREMMØTTE AKSJEEIERE OG FULLMAKTER	OPENING OF THE MEETING BY THE CHAIRMAN OF BOARD, AND THE REGISTRATION OF ATTENDING SHAREHOLDERS AND PROXIES
Styrets leder, Knut Trygve Flakk, åpnet møtet og opptok fortegnelse over møtende aksjeeiere.	The Chairman of the Board, Knut Trygve Flakk, opened the meeting and registered the participating shareholders.
Tilstede var totalt 88.555.578 aksjer, herav 58.069.650 aksjer representert ved fullmakt. Således var ca. 53,1 % av Selskapets samlede aksjekapital representert på generalforsamlingen.	Present were in total 88,555,578 shares, including 58,069,650 shares represented by proxy. Thus, approximately 53.1 % of the Company's total share capital was represented at the General Meeting.

Fortegnelsen over møtende aksjeeiere, personlig eller ved fullmektig, er vedlagt denne protokollen (Vedlegg 1).	The list of attending shareholders, personal or by proxy, is attached to these minutes (Appendix 1).
For Selskapet møtte følgende person:	The following person attended on behalf of the Company:
- Jon Erik Engeset, konsernsjef.	- Jon Erik Engeset, CEO.
2. VALG AV MØTELEDER OG MINST EN PERSON 2. ELECTION OF TIL Å SIGNERE PROTOKOLLEN SAMMEN MED MØTELEDER	THE CHAIRMAN OF THE MEETING AND AT LEAST ONE PERSON TO SIGN THE MINUTES TOGETHER WITH THE CHAIRMAN
Generalforsamlingen fattet følgende vedtak:	The General Meeting made the following resolution:
"Knut Trygve Flakk ble valgt som møteleder.	"Knut Trygve Flakk was elected to chair the meeting.
Geir Torset ble valgt til å medundertegne protokollen sammen med møteleder."	Geir Torset was elected to co-sign the minutes together with the chairman of the meeting."
Beslutningen ble truffet med tilstrekkelig flertall, jf. avstemmingsresultat inntatt som Vedlegg 2 til protokollen.	The decision was passed with the required majority, cf. the result of the voting set out in Appendix 2 to the Minutes.
3. GODKJENNELSE AV INNKALLING DAGSORDEN	OG 3. APPROVAL OF THE NOTICE OF THE MEETING AND THE AGENDA
Det fremkom ingen innsigelser mot innkallingen eller forslag til dagsorden.	There were no objections to the notice and the agenda.
Generalforsamlingen fattet følgende vedtak:	The General Meeting made the following resolution:
"Innkalling og dagsorden ble godkjent."	"The notice of the meeting and the agenda were approved."
Beslutningen ble truffet med tilstrekkelig flertall, jf. avstemmingsresultat inntatt som Vedlegg 2 til protokollen.	The decision was passed with the required majority, cf. the result of the voting set out in Appendix 2 to the Minutes.

$\mathcal{A}$

4. VALG AV NYTT MEDLEM TIL STYRET

Det sittende styret i Selskapet består av følgende personer:

• Knut Trygve Flakk, styreleder.
• Kristine Landmark, nestleder.
• Sverre Narvesen, styremedlem.
• Tom Vidar Rygh, styremedlem.
• Kathrine Duun Moen, styremedlem.
• Gunnar Sten Bøckmann, varamedlem.

Det ble redegjort for valgkomiteens innstilling angående valg av nytt styremedlem. Selskapets valgkomite har foreslått at Katsunori Mori erstatter Tom Vidar Rygh som styremedlem i Selskapet, og at styret for øvrig forblir uendret.

Styremedlem Tom Vidar Rygh har i denne situasjonen sagt seg villig til, i forkant av den ekstraordinære generalforsamlingen, å stille sin styreplass til disposisjon ved selv å trekke seg fra styret for å åpne for det foreslåtte valget av Katsunori Mori.

Generalforsamlingen fattet følgende vedtak:

"Katsunori Mori velges som nytt styremedlem i Selskapet for perioden fra valgdato til den ordinære generalforsamlingen våren 2018, senest 30. juni 2018."

Beslutningen ble truffet med tilstrekkelig flertall, jf. avstemmingsresultat inntatt som Vedlegg 2 til protokollen.

Katsunori Mori har meddelt Selskapet at han fraskriver seg og gir avkall på all styregodtgjørelse for perioden han er medlem av styret.

4. ELECTION OF A NEW BOARD MEMBER

The present Board of the Company comprises the following persons:

• Knut Trygve Flakk, Chairman.
• Kristine Landmark, Deputy-Chair.
• Sverre Narvesen, Board member.
• Tom Vidar Rygh, Board member.
• Kathrine Duun Moen, Board member.
• Gunnar Sten Bøckmann, Deputy member.

The Nomination Committee's proposal for election of a new Board member was accounted for. The Company's nomination committee has proposed that Katsunori Mori replaces Tom Vidar Rygh as a member of the Board, and that the Board otherwise remains unchanged.

In this situation, board member Tom Vidar Rygh has said that he is willing to vacate his seat prior to the Extraordinary General Meeting by himself resigning from the Board of directors in order to allow the proposed election of Katsunori Mori.

The General Meeting made the following resolution:

"Katsunori Mori is elected as new board member of the Company for a term starting on the election date until the Annual General Meeting in the spring of 2018, which will be no later than 30 June 2018."

The decision was passed with the required majority, cf. the result of the voting set out in Appendix 2 to the Minutes.

Katsunori Mori has advised the Company that he waives any board remuneration for the period he will serve on the board of directors.

Side 4 av 5 Det nye styret i Selskapet består således av følgende The new Board of the Company comprise the personer: following persons: Knut Trygve Flakk, styreleder. Knut Trygve Flakk, Chairman. $\rightarrow$ Kristine Landmark, nestleder. Kristine Landmark, Deputy-Chair. Katsunori Mori, styremedlem. Katsunori Mori, Board member. Sverre Narvesen, styremedlem. Sverre Narvesen, Board member. $\rightarrow$ Kathrine Duun Moen, styremedlem. Kathrine Duun Moen, Board member. Gunnar Sten Bøckmann, varamedlem. Gunnar Sten Bøckmann, Deputy member. $ * * $ * * * * Det forelå ingen flere saker til behandling. There were no further items on the agenda. Møteleder takket deltakerne for oppmøtet. The chairman of the meeting thanked the participants for attending. Generalforsamlingen ble deretter hevet. The meeting was adjourned. * * * * $ * * $ Vedlagt følger en detaljert oversikt over utfallet Attached is a detailed overview of the results and av avstemningene, herunder blant annet antall voting, including i.a. number of votes for and against stemmer for og mot de respektive beslutningene, the respective resolutions, cf. the Norwegian Public jf. bestemmelsen i allmennaksjeloven § 5-16. Limited Liability Companies Act Section 5-16. Vedlegg: Appendices: 1. Fortegnelse over møtende aksjeeiere, enten 1. List of attending shareholders, in person or by personlig eller ved fullmektig. ргоху. 2. Avstemmingsresultater. 2. Voting results. * * * * * * * * * * Signaturer følger på neste side: The signatures follow on the next page:

Signaturside for Hexagon Composites ASA` ekstraordinær generalforsamling 23. november 2016 Signature page for Hexagon Composites ASA Extraordinary General Meeting 23 November 2016

Ålesund, 23. november 2016 / 23 November 2016

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The

Knut Trygve Flakk Møteleder (Chairman of the meeting)

Geir Torset Medundertegner (Person to co-sign the minutes)

Total Represented

l ISIN:	NO0003067902 HEXAGON COMPOSITES ASA
General meeting date: 23/11/2016 13.00
Today:	23.11.2016

Number of persons with voting rights represented/attended: 10

	Number of shares % sc
Total shares	166,627,868 ĸ
- own shares of the company	1,166,075
Total shares with voting rights	165,461,793
Represented by own shares	30,485,928 18.43 %
Sum own shares	30,485,928 18.43 %
Represented by proxy	59,599	$0.04$ %
Represented by voting instruction	58,010,051 35.06 %
Sum proxy shares	58,069,650 35.10 %
Total represented with voting rights	88,555,578 53.52 %
Total represented by share capital	88,555,578 53.15 %

Registrar for the company:

DNB Bank ASA

SΑ

Registrars Department

Signature company:

HEXAGON COMPOSITES ASA

Protocol for general meeting HEXAGON COMPOSITES ASA

ISIN: NO0003067902 HEXAGON COMPOSITES ASA General meeting date: 23/11/2016 13.00

Today:	23.11.2016
Shares class	FOR	Against Poll in				Abstain Poll not registered Represented shares with voting rights
Agenda item 2 Election of Chairman of the meeting and at least one person to sign the minutes together
with the Chairman
Ordinær	88,555,578	$\Omega$	88,555,578	0	0	88,555,578
votes cast in %	100.00 %	0.00%		0.00 %
representation of sc in %	100.00 %	0.00%	100.00 %	0.00%	0.00%
total sc In %	53.15 %	0.00 %	53.15%	0.00%	0.00%
Total	66,555,578		0 88,555,578	$\mathbf o$	۰	68,555,578
Agenda item 3 Approval of the notice of the meeting and the agenda
Ordinaer	88,555,578	$\mathbf 0$	88,555,578	$\mathbf 0$	о	88,555,578
votes cast in %	100.00 %	0.00 %		0.00 %
representation of sc In %	100.00 %	0.00%	100.00 %	0.00 %	$0.00 \%$
total sc in %	53.15 %	0.00 %	53.15%	0.00%	0.00 %
Total	88,555,578	o	88,555,578	0	n	88,555,578
Agenda item 4 Election of a new Board member: - Katsunorl Mori, Board member (new):
Ordinær	88,555,578	0	88,555,578	0	O	88,555,578
votes cast in %	100.00 %	0.00 %		0.00%
representation of sc in %	100.00 %	0.00 %	100.00%	0.00%	0.00 %
total sc in %	53.15%	0.00 %	53.15 %	0.00%	0.00%
Total	88,555,578		0.88,555,578	٥	o	86,555,578

Registrar for the company:

Signature company:

HEXAGON COMPOSITES ASA DNB Bank AS/

Share information

Name	Total number of shares Nominal value Share capital Voting rights
Ordinær	166.627.868	0.10 16,662,786.80 Yes
Sum:

§ 5-17 Generally majority requirement
requires majority of the given votes

§ 5-18 Amendment to resolution
Requires two-thirds majority of the given votes
ilke the issued share capital represented/attended on the general meeting