Hexagon Composites

Hexagon Composites ASA - Participation in Hexagon Purus' contemplated private placement of new shares

Reference is made to the stock exchange announcement from Hexagon Purus ASA

("Hexagon Purus" or the "Company") published 30 October 2024 whereby the Company

announced the launch of a contemplated private placement of new shares raising

gross proceeds of approximately NOK 1,000 million (the "Private Placement").

The Private Placement is supported by Hexagon Composites ASA ("Hexagon

Composites") and Mitsui & Co., Ltd. through pre-commitments and pre-allocations.

Hexagon Composites has irrevocably committed to subscribe for, and will receive

an allocation of shares for, approx. NOK 380 million in the Private Placement.

"Hexagon Composites remains committed to Hexagon Purus' development and success.

We are pleased to take part in the Company's continued remarkable growth and to

note its line of sight to profitability," says Jon Erik Engeset, CEO of Hexagon

Composites.

As stated by Hexagon Purus, the net proceeds from the Private Placement will be

used to finance the Company's business plan and are intended to fully fund the

Company well past the point of cash flow break-even.

The new shares issued in the Private Placement will be allocated in two

tranches, where shares in the first tranche will be issued by Hexagon Purus'

board of directors pursuant to the board authorization granted by its annual

general meeting, and the issuance of shares in Tranche 2 will be subject to

approval by an extraordinary general meeting of the Company (the "EGM"). Hexagon

Composites will receive all or a substantial proportion of its allocation in

Tranche 2 which will be conditional upon approval by the EGM.

In connection with the Private Placement, and subject to certain customary

exemptions, Hexagon Composites has committed to a 3-month lock-up period with

the Company's managers for the Private Placement, for the shares in the Company

held by Hexagon Composites.

For key terms related to the Private Placement, please refer to Hexagon Purus'

stock exchange announcement.

This information is considered to be inside information pursuant to the

EU Market Abuse Regulation. This stock exchange release was published by Berit

-Cathrin Høyvik, Senior Director Communications, Hexagon Composites ASA at the

time and date provided.

For more information:

David Bandele, CFO, Hexagon Composites ASA

Telephone +47 920 91 483 I [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

hexagongroup.com and follow @HexagonASA on X and LinkedIn.

AI Terminal