Hexagon Purus AS

Private placement successfully completed

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice from Hexagon Composites ASA published on 2 December regarding a contemplated private placement of new shares in Hexagon Purus AS (the “Company” or “Hexagon Purus”).

The Company is pleased to announce that it has raised approximately NOK 750 million in gross proceeds through a private placement (the “Private Placement”) of 27,472,527 new shares (the “New Shares”), at a price per share of NOK 27.3. The subscription price represents the maximum price within the communicated price range for the Private Placement. Following the completion of the Private Placement, the Company will have 229,092,239 shares outstanding, and a market capitalization based on the subscription price of NOK 6,254 million.

The Private Placement attracted strong interest from both existing Hexagon Composites shareholders and new investors wishing to support Hexagon Purus in enabling zero emission mobility. Three cornerstone investors subscribed for and were allocated shares in the Private Placement for a total amount of NOK 190 million: i) Handelsbanken Fonder (NOK 75 million), ii) Delphi Funds (NOK 65 million) and iii) Storebrand Asset Management (NOK 50 million).

The net proceeds from the Private Placement will be used for growth initiatives and for general corporate purposes.

Completion of the Private Placement is subject to (i) all necessary corporate resolutions for consummating the Private Placement being validly made by the Company, including without limitation relevant approvals and resolutions by the Board of Directors and the Company's general meeting and (ii) the Offer Shares having been validly issued (by registration of the share capital increase pertaining to the issuance of the Offer Shares in the Norwegian Register of Business Enterprises) and delivered in the VPS.