Daimler Truck North America and Hexagon Purus end supply agreement for battery electric vocational vehicles

04 Oct 2024 07:55 CEST

(4 October 2024 - Oslo, Norway) Reference is made to the stock exchange release
by Hexagon Purus ASA ("Hexagon Purus" or the "Company") on 14 August 2023, where
Hexagon Purus and Daimler Truck North America ("DTNA") signed a long-term
agreement for complete vehicle integration of battery electric vocational
vehicles.

The parties have today mutually agreed to terminate the 2024-2027 supply
agreement, and DTNA will reimburse Hexagon Purus for certain costs that the
Company has undertaken related to this agreement.

The decision unlocks capacity to address other near-term opportunities for
strategically attractive battery electric commercial vehicle programs with
higher volume and margin potential. It also enables the Company to enhance its
focus on the operational execution and scale-up of its long-term agreement for
the supply of battery electric trucks to Hino Trucks.

The Company maintains its financial guidance for 2024 and still expects revenue
growth of at least 50% year-over-year for 2024, and a significant year-over-year
improvement in the Company's EBITDA margin. For 2025, based on preliminary
estimates, the Company expects revenue growth of at least 50% year-over-year and
continued significant improvement in EBITDA margin. The Company expects to reach
EBITDA break-even during 2026.

For more information:

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

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

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

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act. This information is considered to be
inside information pursuant to the EU Market Abuse Regulation.

This stock exchange announcement was published by Mathias Meidell, IR
Director, Hexagon Purus ASA, on 4 October 2024 at 07:55 CET.

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