Hexagon Composites

Hexagon Agility receives additional fuel system orders for UPS heavy- and medium-duty renewable natural gas trucks

28 June 2023: As previously disclosed, Hexagon Agility, a business of Hexagon

Composites, signed a master services agreement in October 2019 with UPS, the

world's premier package delivery company and a leading provider of global supply

chain management solutions, to supply renewable natural gas (RNG) fuel systems

for medium- and heavy-duty trucks.

Under this agreement, Hexagon Agility has received additional 2023 orders of USD

20.9 million (approx. NOK 225 million) for delivery of RNG fuel systems for

heavy- and medium-duty trucks. This is in addition to the USD 19 million

(approx. NOK 205 million) of previously announced orders from February 2023.

"We are pleased to support UPS' continued commitment to transition its fleet to

RNG resulting in greater emission reductions," said Eric Bippus, EVP Sales and

Systems Development at Hexagon Agility. "Together, we are paving the way for a

cleaner and greener future."

About the market

RNG results in significant reductions of greenhouse gas (GHG) emissions when

compared to other clean energy solutions available today. In North America, RNG

is supported by abundant natural gas pipeline infrastructure which allows for

its immediate use today, and for decades to come. Hexagon Agility is enabling

the adoption of RNG to cost effectively combat climate change.

Timing

Deliveries of the new orders will commence in the third quarter of 2023.

For more information:

Karen Romer, SVP Communications, Hexagon Composites ASA

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

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

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

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. Its product offerings include (renewable) natural gas storage and

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

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

fuels and enable vehicles 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.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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