Hexagon Composites

Related Party Transaction • Aug 14, 2025

Hexagon Composites extends strategic alliance agreement with Mitsui & Co.

Hexagon Composites extends strategic alliance agreement with Mitsui & Co.

14 August, 2025: Hexagon Composites (OSE:HEX.OL), a global leader in clean

energy solutions, and Mitsui & Co., Ltd., headquartered in Tokyo and active

world-wide in a wide range of sectors including clean energy & mobility, have

extended their Strategic Alliance Agreement until the earlier of 20 March 2030

and the date on which Mitsui's shareholding in the Company falls below certain

shareholding ratio.

The agreement was memorialized by Philipp Schramm, CEO of Hexagon Composites and

Katsuto Kawahara, General Manager of Functional Materials Division, Performance

Materials Business Unit of Mitsui, on 12 August 2025 in Oslo, Norway.

Mitsui and Hexagon Composites have developed a close partnership over decades

centered around the drive to accelerate and develop composite technology. The

original strategic alliance agreement was signed in 2016, and Mitsui has been a

major shareholder in Hexagon Composites since then.

"Mitsui's support as a strategic partner and shareholder has been essential to

the development of Hexagon", says Philipp Schramm, CEO Hexagon Composites. "Over

the past decade, Mitsui's industrial expertise and global reach, have helped us

set a benchmark in the industry and accelerate the adoption of alternative

fuels. We look forward to continuing to leverage our synergies to drive the

energy transition forward."

"We are pleased to have supported the growth of Hexagon Composites over the past

decade. We believe in the long-term growth of the Group and with the renewed

Strategic Alliance Agreement, we remain a strategic partner to Hexagon

Composites," says Katsuto Kawahara of Mitsui.

Currently, Mitsui holds 33,229,096 shares in Hexagon Composites, which

corresponds to 15.8% of the total shares.

For more information:

Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites

Telephone: +47 988 92 161 | berit-cathrin.hoyvik@hexagongroup.com

David Bandele, CFO, Hexagon Composites

Telephone: +47 920 91 483 | david.bandele@hexagongroup.com

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 and industrial applications. Learn more at

hexagongroup.com and follow @HexagonASA on LinkedIn.

About MITSUI & CO., LTD.

Mitsui & Co. is a global trading and investment company with a presence in more

than 60 countries and a diverse business portfolio covering a wide range of

industries.

The company identifies, develops, and grows its businesses in partnership with a

global network of trusted partners including world leading companies, combining

its geographic and cross-industry strengths to create long-term sustainable

value for its stakeholders.

Mitsui has set three key strategic initiatives for its current Medium-term

Management Plan: supporting industries to grow and evolve with stable supplies

of resources and materials, and providing infrastructure; promoting a global

transition to low-carbon and renewable energy; and empowering people to lead

healthy lives through the delivery of quality healthcare and access to good

nutrition.

Visit https://www.mitsui.com/jp/en/ for more information.