Hexagon Composites

Major Shareholding Notification • Aug 21, 2024

Mandatory notification of trade and major shareholding notification - share lending for settlement purposes

Mandatory notification of trade and major shareholding notification - share lending for settlement purposes

21 August 2024. Reference is made to the stock exchange notice published by

Hexagon Composites ASA (the "Company") on 20 August 2024 regarding the

successful completion of a private placement of shares in the Company (the

"Private Placement").

Flakk Composites AS holds 15,213,217 shares in the Company, representing

approximately 7.55% of the share capital and votes in the Company. Flakk

Composites AS is partially owned and controlled by Knut Flakk, founder and

Chairman of the Board of Directors of the Company. Together with related parties

(including Flakk Composites AS) Knut Flakk controls in total 22,568,314 shares

(representing approx. 11.19% of the total number of shares in the Company).

Pursuant to a share lending agreement between Flakk Composites AS and DNB

Markets, a part of DNB Bank ASA, (the "Managers"), Flakk Composites AS has today

lent 8,450,704 shares (4.2% of the total number of shares in the Company) to the

Managers for settlement purposes in the Private Placement. The shares will be

redelivered to Flakk Composites AS upon settlement of the Private Placement.

Following the share lending, the shareholding of Flakk Composites AS is

temporarily (until settlement of the Private Placement) reduced to 6,762,513

shares (3.4% of the total number of shares in the Company), and the total

holding of Knut Flakk and all related parties is temporarily reduced to

14,117,610 shares 7% of the total number of shares in the Company.

Please see the attached form for further information.

This information is subject to disclosure requirements set out in the Market

Abuse Regulation EU 596/2014 Article 19 and the Norwegian Securities Trading Act

Section 5-12.