NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA 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 announcement made by Hexagon Purus ASA (the "Company") on 30 October 2024 regarding the successful placing of a private placement of 145,000,000 new shares at a price of NOK 6.90 per share, raising gross proceeds of approximately NOK 1 billion (the "Private Placement"). In the announcement, it was stated that the Company's Board of Directors would consider carrying out a subsequent offering of up to 21,750,000 new shares at the same subscription price as in the Private Placement (the "Subsequent Offering").

The Company's Board of Directors has resolved not to proceed with the Subsequent Offering.

The background for the cancellation is that the Company's shares have traded below the subscription price in the Private Placement for a substantial period of time and at significant volumes. Existing shareholders wishing to reduce the dilutive effect of the Private Placement have thus had the opportunity to purchase shares in the market at prices below the price which would have been the subscription price in the Subsequent Offering.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

For further information:

Salman Alam, CFO, Hexagon Purus
Telephone: +47 476 12 713 | salman.alam@hexagonpurus.com
(mailto:salman.alam@hexagonpurus.com)

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 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.