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Regulatory press release

HEX: Hexagon Purus enters into framework agreement to deliver hydrogen distribution systems in Europe

Hexagon Composites
(Oslo, Norway, 14 October 2022) Hexagon Purus ASA ("Hexagon Purus"), through its
wholly owned subsidiary Wystrach GmbH, a leading hydrogen systems supplier, has
secured a framework agreement for delivery of hydrogen distribution systems to a
leading European producer of green hydrogen.

Hexagon Purus' hydrogen distribution systems including its type 4 hydrogen
cylinders will be used to deliver hydrogen for transportation and industrial
applications in Europe. The minimum value of the framework agreement is
approximately EUR 9.7 million (approximately NOK 97 million).

Driving Energy Transformation
"We are currently experiencing strong commercial momentum within our hydrogen
distribution business following the recent push from European authorities to
reduce emissions and increase energy security", says Michael Kleschinski, EVP of
Hexagon Purus. "We are very happy to play an important part in supporting
European authorities' ambitious growth plan for hydrogen adoption".

About the market
The industrial and mobility sectors are accountable for close to 50% of annual
carbon emissions globally, and hydrogen has a significant role to play in
reducing these emissions, particularly in "hard to abate" sectors. Making green
hydrogen available for use in industrial processes and mobility is critical to
reduce carbon emissions.

As hydrogen, a key contributor to the energy transition, continues to build
momentum globally, more than 30 countries have released hydrogen roadmaps, over
USD 70 billion in government funding is committed to hydrogen investments, more
than 500 large-scale hydrogen projects have been announced by the industry to
date and green hydrogen is projected to supply up to 25% of the world's energy
needs by 2050.

Timing
Delivery of the hydrogen systems is scheduled from Q4 2022 to Q4 2023.


For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47?909 82 242 | mathias.meidell@hexagonpurus.com
(mailto:mathias.meidell@hexagonpurus.com)


About Hexagon Purus
Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for
a cleaner energy future. The company is a world leading provider of hydrogen
Type 4 high-pressure cylinders and systems, battery systems and vehicle
integration solutions for fuel cell electric and battery electric vehicles.
Hexagon Purus' products are used in a variety of applications including light,
medium and heavy-duty vehicles, buses, ground storage, distribution, refueling,
maritime, rail and aerospace.

Learn more at www.hexagonpurus.com (http://www.hexagonpurus.com/) and follow
@HexagonPurus on Twitter and LinkedIn.
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