Hexagon Composites

Hexagon Composites ASA: First quarter 2024

8 May 2024: Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder

technology and related systems for storage and transportation of clean gaseous

energy reported revenues of NOK 1 083 million for first quarter 2024 (Q1'23: 1

130 million). The reported EBITDA was NOK 77 million (Q1'23: 83 million).

"Hexagon Agility's Mobile Pipeline distribution business delivered record

results for the eighth quarter in a row, offsetting a softer quarter for the

other businesses," says Jon Erik Engeset, Group CEO of Hexagon Composites.

Outlook

Demand for natural gas trucks is expected to ramp up from the second half of

2024 with the new 15-liter engine becoming widely available. Continued growth is

also expected in the Mobile Pipeline business, mainly driven by increased

production of renewable natural gas (RNG). Hexagon Agility's capacity expansion

program is timed to support strong growth through 2025 and beyond.

Hexagon Ragasco's smart Linktra® LPG (liquid petroleum gas) cylinder was

launched in April by Linde in Norway providing convenience and efficiency for

consumers and distributors.

The Company is on track to deliver on its 2025 targets of more than NOK 6

billion in revenues and 15% EBITDA margin.

For further details, please see the attached first quarter 2024 report and

presentation.

Presentation of the results today at 08:30 am CEST

Knut Flakk, Chair of the Board and David Bandele, CFO will present the results

at 08:30 am today in Oslo. The presentation will be held in the Auditorium at

Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level.

The presentation will also be broadcast live via:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240508_6

For more information:

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

Telephone: +47 950 38 364 | [email protected]

Karen Romer, SVP Communications, Hexagon Composites ASA

Telephone: +47 950 74 950 | [email protected]

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 www.hexagongroup.com and follow @HexagonASA on X and LinkedIn.

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