Hexagon Composites

Regulatory Filings • Mar 1, 2023

Hexagon Purus in advanced discussions with Hino Motors for delivery of zero emission heavy-duty trucks in the U.S.

Hexagon Purus in advanced discussions with Hino Motors for delivery of zero emission heavy-duty trucks in the U.S.

(Oslo, Norway, 1 March 2023) Hexagon Purus ("the Company"), a world leading

manufacturer of zero emission mobility and infrastructure solutions, is in

advanced discussions with Hino Trucks for a long-term distribution agreement

under which Hexagon Purus expects to produce complete battery electric heavy-

duty trucks for the U.S. market, distributed exclusively through select

qualifying dealers in Hino's network. The vehicles are expected to be based on

Hino's XL 4x2 tractor chassis and upfitted with Hexagon Purus' proprietary zero-

emission technology, including battery systems, auxiliary modules, power modules

and vehicle-level software. The potential agreement foresees the delivery of up

to 10,000 trucks by 2030, and the total potential value over the course of the

agreement could reach approximately USD 2.0 billion (approximately NOK 20

billion).

Serial production of the electric heavy-duty trucks would be expected to

commence during the last part of 2024, and this expanded agreement would replace

the already announced (on 11 February 2022) cooperation between Hexagon Purus

and Hino to supply battery packs for multiple Hino truck platforms planned for

serial production from 2024.

Contacts

Salman Alam, SVP Corporate Development, Hexagon Purus

Telephone: +47?476 12 713 | salman.alam@hexagonpurus.com

(mailto:salman.alam@hexagonpurus.com)

Mathias Meidell, Investor Relations Director, Hexagon Purus

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

(mailto:mathias.meidell@hexagonpurus.com)

About Hino

Hino Trucks manufactures, sells, and services a lineup of Class 4-8 commercial

trucks in the United States. Hino Trucks is the premier heavy and medium duty

nameplate in the United States with a product lineup that offers fully connected

vehicles with low total cost of ownership, unmatched reliability and

maneuverability and the most comprehensive bundle of standard features in the

market. Headquartered in Novi, Michigan, Hino has a network of around 200

dealers nationwide committed to achieving excellence in the ultimate ownership

experience.

Learn more about Hino Trucks at http://www.hino.com or follow us on Facebook,

LinkedIn, Twitter and YouTube.

About Hexagon Purus

Hexagon Purus enables zero emission mobility for a cleaner energy future. The

company is a world leading provider of hydrogen Type 4 high-pressure cylinders

and systems, battery systems and vehicle integration solutions for fuel cell

electric and battery electric vehicles. Hexagon Purus' products are used in a

variety of applications including light, medium and heavy-duty vehicles, buses,

ground storage, distribution, refueling, maritime, rail and aerospace.

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

@HexagonPurus on Twitter and LinkedIn

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation. This stock exchange announcement was published by

Ingrid Aarsnes, VP IR & ESG at Hexagon Composites ASA, on 1 March 2023 at 16:30

CET.