HydrogenPro ASA - Disclosure of large shareholding

23 Dec 2024 09:02 CET

Reference is made to the stock exchange announcement by HydrogenPro ASA
("HydrogenPro" or the "Company") on 23 December 2024 regarding the private
placement of 12,700,000 new shares in the Company at a subscription price of NOK
5.50 per share, raising total gross proceeds of approx. NOK 70 million (the
"Private Placement").

Prior to the Private Placement, Andritz AG ("Andritz") held 9,644,036 shares in
the Company, representing 13.75% of the share capital and votes in the Company.
Andritz has subscribed for, and been allocated, 6,350,000 new shares in the
Company in the Private Placement. Subject to the completion of the Private
Placement, Andritz will hold 15,994,036 shares in the Company, equal to 19.31%
of the issued share capital and votes, and thereby exceed the 15% threshold
pursuant to Section 4-2 (1) of the Norwegian Securities Trading Act. Andritz AG
has no other rights to shares in the Company.

This disclosure is made pursuant to Section 4-2 of the Norwegian Securities
Trading Act.

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