Hexagon Composites — Share Issue/Capital Change 2021

May 10, 2021

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Reference is made to announcement from Hexagon Composites ASA ("Hexagon") on 31

August 2020 concerning the registration of an increase in the share capital of

Hexagon. The dilution effect of the share capital increase caused Flakk

Composites AS' unchanged shareholding of 20,000,000 shares of Hexagon to be

diluted to approx. 9.92% of the total number of shares. The total holding of

Knut Flakk and his close associates in August 2020 of 29,384,969 shares

(subsequently increased to 29,484,969 shares as announced on 19 February 2021),

was also unchanged, and represented approx. 14.57% of the total share capital of

HEX following the share capital increase.