Hexagon Composites

Hexagon Composites ASA: Mandatory notification of trade - provisional award of PSUs

22 February 2024: The Board of Directors of Hexagon Composites ASA ("Hexagon

Composites" or the "Company") has resolved to provisionally award up to

4,929,268 Performance Share Units ("PSUs") to executives. The PSU allocation is

in accordance with the Board of Director's compensation policy for the executive

management. This policy is described in the Company's Guidelines for

remuneration of executive management as approved at the Annual General Meeting

on 28 April 2021. The PSUs are non-transferable and will vest on 31 March 2027

subject to satisfaction of the applicable vesting conditions.

The actual number of PSUs to be allocated will depend on 2026 financial

performance in addition to the development of market cap of the Company from

award up to vesting. The number of PSUs will attain minimum zero and maximum

4,929,268. Each vested PSU will give the holder the right to receive one share

in the Company at an exercise price corresponding to the par value of the shares

being NOK 0.10. The total number of outstanding restricted share units and PSUs

are now 512,376 and provisionally 8,953,988 respectively. Of the maximum

4,929,268 provisionally awarded PSUs, maximum 1,510,680 PSUs will provisionally

be awarded to primary insiders.

Further details of the primary insider's transactions pursuant to the market

abuse regulation article 19 are attached.

For additional information:

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

Telephone: +47 950 38 364 | [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 Twitter and

LinkedIn.

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