Hexagon Composites ASA: Cancellation of subsequent offering

22 Sep 2025 17:17 CEST

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN 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.

22 September 2025: Reference is made to the stock exchange releases from Hexagon
Composites ASA ("Hexagon" or the "Company") published on 16 and 17 September
2025 regarding the successful completion of a private placement of 42,014,080
new shares in the Company at a price per share of NOK 14 (the "Private
Placement") and a potential subsequent offering of up to 6,000,000 shares at the
same subscription price as in the Private Placement (the "Subsequent Offering"),
subject to inter alia the development of the price of the shares of the Company
following the Private Placement.

The Company's shares have since completion of the Private Placement traded below
the subscription price in the Private Placement at significant volumes, and
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. The Company's Board of Directors has therefore resolved not
to proceed with the Subsequent Offering.

For more information:
David Bandele, CFO, Hexagon Composites
Telephone: +47 920 91 483 I david.bandele@hexagongroup.com

About Hexagon Composites
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 and industrial applications. Learn more at
hexagongroup.com and follow @HexagonASA on LinkedIn.

This information was issued as inside information pursuant to the EU Market
Abuse Regulation, and was published by Ingrid Aarsnes, VP ESG & Corporate
Compliance, Hexagon Composites ASA, on the date and time provided.

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