Hexagon Composites — Capital/Financing Update 2022

Apr 20, 2022

Hexagon Purus receives order to deliver high-performance hydrogen distribution systems to a leading global industrial gas company

Hexagon Purus receives order to deliver high-performance hydrogen distribution systems to a leading global industrial gas company

(Oslo, 20 April 2022) Hexagon Purus, through its wholly owned subsidiary,

Wystrach GmbH ("Wystrach"), a leading hydrogen systems supplier, has received a

follow-on order worth approximately EUR 1.5 million (approx. NOK 14 million) to

deliver hydrogen distribution systems to a leading global industrial gas

company. This order can be viewed in conjunction with the announcement on

February 4, 2022, of a separate order with a value of approximately EUR 5.7

million (approx. NOK 58 million). Wystrach's hydrogen distribution systems with

Hexagon Purus' type 4 cylinders will be used to deliver hydrogen for industrial

and mobility applications in the Netherlands.

Driving Energy Transformation

"This latest order is testament to our technology and confirms our strong

offering of high-pressure hydrogen distribution systems and positioning with

global industrial gas companies," says Matthias Kötter, Head of Wystrach Sales,

Hexagon Purus. "We are happy to continue to support our customer in their

efforts to increase hydrogen distribution in Europe".

About the market

The industrial and mobility sectors are accountable for close to 50% of annual

carbon emissions globally, and hydrogen has a significant role to play in

reducing these emissions, particularly in "hard to abate" sectors. Making green

hydrogen available for use in industrial processes and mobility is critical to

reduce carbon emissions.

As hydrogen, a key contributor to the energy transition, continues to build

momentum globally, more than 30 countries have released hydrogen roadmaps, over

USD 70 billion in government funding is committed to hydrogen investments, more

than 500 large-scale hydrogen projects have been announced by the industry to

date and green hydrogen is projected to supply up to 25% of the world's energy

needs by 2050.

Timing

Delivery of the hydrogen systems is scheduled for Q1 2023.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus

Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com

Karen Romer, SVP Communications, Hexagon Composites

Telephone: +47 950 74 950| karen.romer@hexagongroup.com

(mailto:karen.romer@hexagongroup.com)

About Hexagon Purus

Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for

a cleaner energy future. Hexagon Purus is a world leading provider of Hydrogen

Type 4 high-pressure cylinders, complete vehicle systems and battery packs for

fuel cell electric and battery electric vehicles (FCEV and BEV) including hybrid

mobility applications on light, medium and heavy-duty vehicles, transit buses,

ground storage, distribution, marine, rail, and aerospace applications.

Learn more at www.hexagonpurus.com (http://www.hexagonpurus.com) and follow

@HexagonPurus on Twitter and LinkedIn.