Hexagon Composites

Capital/Financing Update • Oct 30, 2023

Hexagon Agility receives inaugural order for Mobile Pipeline® TITAN 450 modules from Promigas Peru S.A.

Hexagon Agility receives inaugural order for Mobile Pipeline® TITAN 450 modules from Promigas Peru S.A.

30 October 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has

received an inaugural order for Mobile Pipeline(®) TITAN 450 modules from

Promigas Peru, a subsidiary of Promigas and a leading energy distributor of

natural gas for the Peru market.

The order represents an estimated value of USD 9 million (approx. NOK 100

million).

Promigas Peru enables customers without pipeline access to transition to lower

carbon energy. The new TITAN 450 modules will complement Promigas Peru's current

virtual pipeline fleet, enhancing its ability to distribute natural gas safely

and economically to La Libertad, Cajamarca, Lambayeque and Ancash - all regions

in Northern Peru with limited pipeline infrastructure.

"We're excited to be selected by Promigas Peru to support the decarbonization of

the industrial sector. Our Mobile Pipeline solutions have enabled the safe

distribution of compressed natural gas throughout Latin America" says Nicolas

Reyes, Director of Sales and Business Development Latin America at Hexagon

Agility. "With deployment of our latest Mobile Pipeline innovation, Hexagon

Agility and Promigas Peru are driving the transformation to cleaner and more

affordable energy in Latin America.

Hexagon Agility has delivered safe, high-capacity modules into Latin America for

the past ten years and has more than 300 Mobile Pipeline units in service

throughout the region.

Higher capacity, lighter design, lower emissions

TITAN 450 enables the safe transport of almost half a million standard cubic

feet of CNG/RNG in a 40-foot module. The new product employs the latest

technology in Type 4 composite cylinders and high-strength frame design. It

delivers 25% greater gas capacity than other compressed natural gas distribution

modules, while being 20% lighter in the same 40-foot length. This results in

fewer trips to deliver the same amount of gas, improving operational efficiency,

and reducing total cost of ownership and transport emissions.

Timing

Deliveries of the modules are scheduled to start in the first half of 2024.

For more information:

Karen Romer, SVP Communications, Hexagon Composites ASA

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

(mailto:karen.romer@hexagongroup.com)

Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA

Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com

(mailto:ingrid.aarsnes@hexagongroup.com)

About Promigas

More than 48 years of connecting markets to energy sources and generating value

through responsible management with the environment and committed to sustainable

development. This is how we have led the natural gas revolution in Colombia and

Peru. We have 23 companies dedicated to the transportation and distribution of

natural gas, LNG regasification, electricity distribution, energy solutions and

integrated services for the industry.

About Hexagon Agility

Hexagon Agility, a business of Hexagon Composites, is a leading global provider

of clean fuel solutions for commercial vehicles and gas transportation

solutions.  Products offered include (renewable) natural gas storage and

distribution systems, Type 4 composite natural gas cylinders, propane, and

(renewable) natural gas vehicle fuel systems. These products transport clean

gaseous fuels and enable customers to reduce emissions while saving operating

costs. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter

and LinkedIn.

About Hexagon Composites ASA

Hexagon delivers safe and innovative solutions for a cleaner energy future. Our

solutions enable storage, transportation and conversion to clean energy in a

wide range of mobility, industrial and consumer applications. Learn more at

hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.