Hexagon Composites ASA - Participation in Hexagon Purus' contemplated private placement of new shares

30 Oct 2024 16:31 CET

Reference is made to the stock exchange announcement from Hexagon Purus ASA
("Hexagon Purus" or the "Company") published 30 October 2024 whereby the Company
announced the launch of a contemplated private placement of new shares raising
gross proceeds of approximately NOK 1,000 million (the "Private Placement").

The Private Placement is supported by Hexagon Composites ASA ("Hexagon
Composites") and Mitsui & Co., Ltd. through pre-commitments and pre-allocations.
Hexagon Composites has irrevocably committed to subscribe for, and will receive
an allocation of shares for, approx. NOK 380 million in the Private Placement.

"Hexagon Composites remains committed to Hexagon Purus' development and success.
We are pleased to take part in the Company's continued remarkable growth and to
note its line of sight to profitability," says Jon Erik Engeset, CEO of Hexagon
Composites.

As stated by Hexagon Purus, the net proceeds from the Private Placement will be
used to finance the Company's business plan and are intended to fully fund the
Company well past the point of cash flow break-even.

The new shares issued in the Private Placement will be allocated in two
tranches, where shares in the first tranche will be issued by Hexagon Purus'
board of directors pursuant to the board authorization granted by its annual
general meeting, and the issuance of shares in Tranche 2 will be subject to
approval by an extraordinary general meeting of the Company (the "EGM"). Hexagon
Composites will receive all or a substantial proportion of its allocation in
Tranche 2 which will be conditional upon approval by the EGM.

In connection with the Private Placement, and subject to certain customary
exemptions, Hexagon Composites has committed to a 3-month lock-up period with
the Company's managers for the Private Placement, for the shares in the Company
held by Hexagon Composites.

For key terms related to the Private Placement, please refer to Hexagon Purus'
stock exchange announcement.

This information is considered to be inside information pursuant to the
EU Market Abuse Regulation. This stock exchange release was published by Berit
-Cathrin Høyvik, Senior Director Communications, Hexagon Composites ASA at the
time and date provided.

For more information:

David Bandele, CFO, Hexagon Composites ASA
Telephone +47 920 91 483 I david.bandele@hexagongroup.com

About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation and conversion to clean energy in a
wide range of mobility, industrial and consumer applications. Learn more at
hexagongroup.com and follow @HexagonASA on X and LinkedIn.

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