Hexagon Composites — Capital/Financing Update 2021

Dec 9, 2021

NOTICE OF EXERCISE OF CALL OPTION

To: Nordic Trustee AS Kronprinsesse Märthas plass 1 N-0160 Oslo Norway

Attn: Jørgen Andersen

E-mail: andersen@nordictrustee.com

9 December 2021

Hexagon Composites ASA FRN senior unsecured NOK 1,500,000,000 bond issue 2019/2023 with ISIN NO0010846280

We refer to the bond terms originally dated 13 March 2019 (as amended, supplemented and restated from time to time), for the above captioned Bonds made between Nordic Trustee AS as Bond Trustee on behalf of the Bondholders and the undersigned as Issuer (the "Bond Terms").

Capitalised terms used herein shall have the same meaning as in the Bond Terms unless the contrary indication appears.

We hereby give you notice that we, in accordance with paragraph (a) of Clause 10.2 (Voluntary early redemption – Call Option) of the Bond Terms shall exercise the Call Option right by redeeming all the Outstanding Bonds. The Outstanding Bonds shall be redeemed at a price equal to 102.06 per cent. of the Nominal Amount of each redeemed Bond (plus accrued unpaid interest on the redeemed amount), cf. item (iii) of paragraph (a) of Clause 10.2 (Voluntary early redemption – Call Option) of the Bond Terms, and the Call Option Repayment Date will be on 23 December 2021.

Record date for the above mention payment will be 21 December 2021.

This notice is given to you as Bond Trustee on behalf of yourself and the Bondholders.

This notice is irrevocable.

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HEXAGON COMPOSITES ASA

T: +47 70 30 44 50 office@hexagongroup.com www.hexagongroup.com

For and on behalf of

HEXAGON COMPOSITES ASA

Name: David Bandele Title: CFO / Authorised Signatory

____________________________________

HEXAGON COMPOSITES ASA

Korsegata 4B 6002 Ålesund, Norway. NO 938 992 185 MVA

T: +47 70 30 44 50 office@hexagongroup.com www.hexagongroup.com

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