Cavendish Hydrogen ASA: Approval and publication of prospectus

10 Jun 2024 14:55 CEST

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG
KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION
OR RELEASE WOULD BE UNLAWFUL.

Oslo, 10 June 2024: Reference is made to the stock exchange announcements by Nel
ASA ("Nel", OSE: NEL) and Cavendish Hydrogen ASA ("Cavendish", OSE: CAVEN) on 31
May 2024, where it was announced that Cavendish has applied for admission to
trading of its shares on the main board of the Oslo Stock Exchange (the
"Listing"). Further reference is made to the announcement by the Oslo Stock
Exchange on 6 June 2024 relating to the approval of Cavendish's application for
Listing, subject to satisfaction of certain conditions, and the stock exchange
announcements by Nel and Cavendish on 6 June 2024 regarding the resolution by
the Board of Directors of Nel to distribute the shares in Cavendish to Nel's
shareholders as dividend in kind.

Cavendish has prepared a prospectus in connection with the Listing. The
prospectus has today, 10 June 2024, been approved by the Financial Supervisory
Authority of Norway. The prospectus is attached to this stock exchange
announcement and will be made available on https://cavendishh2.com/,
https://www.carnegie.no/ongoing-prospectuses-and-offerings/,
https://www.arctic.com/ and
https://research.fearnleysecurities.no/Transactions/. Hard copies of the
prospectus may be obtained free of charge by contacting Cavendish.

Subject to satisfaction of the conditions for Listing set by the Oslo Stock
Exchange, the first day of trading of Cavendish's shares on the Oslo Stock
Exchange is expected to be on or about 12 June 2024. No assurance can currently
be given that the conditions for Listing will be satisfied in time or at all.

For further information, please contact:

Marcus Halland, CFO, +47 930 90 190

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act and section 4.5 of the Oslo Rule
Book II – Issuer Rules.

IMPORTANT NOTICE

These materials do not constitute or form a part of any offer of securities for
sale or a solicitation of an offer to purchase securities of Cavendish Hydrogen
ASA (the "Issuer") in the United States or any other jurisdiction. The
securities of the Issuer may not be offered or sold in the United States absent
registration or an exemption from registration under the U.S. Securities Act of
1933, as amended (the "U.S. Securities Act"). The securities of the Issuer have
not been, and will not be, registered under the U.S. Securities Act. Any sale in
the United States of the securities mentioned in this communication will be made
solely to "qualified institutional buyers" as defined in Rule 144A under the
U.S. Securities Act. No public offering of securities will be made in connection
with the Listing, within or outside the United States.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive any offering
without an approved prospectus in such EEA Member State. The "EU Prospectus
Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of
the Council of 14 June 2017 (together with any applicable implementing measures
in any Member State).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied upon by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Issuer. Neither the Issuer,
its advisors nor any of their respective affiliates accepts any liability
arising from the use of this announcement.

The publication, distribution or release of this announcement and other
information may be restricted by law in certain jurisdictions. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.
Specifically, neither this announcement nor the information contained herein is
for publication, distribution, or release, in whole or in part, directly or
indirectly, in or into or from the United States (including its territories and
possessions, any State of the United States and the District of Columbia),
Australia, Canada, Hong Kong, Japan or any other jurisdiction where to do so
would constitute a violation of the relevant laws of such jurisdiction.

More information:
Access the news on Oslo Bors NewsWeb site

621101_Cavendish Hydrogen ASA - Prospectus 10 June 2024.pdf