Cavendish Hydrogen ASA exits South Korea

30 Sep 2025 08:55 CEST

Oslo, September 30, 2025 -- Cavendish Hydrogen ASA (Cavendish, Oslo Børs
Ticker: CAVEN) announces its decision to exit the South Korean market as part
of a strategic alignment. Despite offering market-leading solutions, the
company has faced persistent challenges in achieving commercial traction in a
region dominated by local players. Hence, Cavendish sees limited possibilities
to establish a sustainable position in the South Korean market.

This decision follows a thorough evaluation of Cavendish's global footprint
and is aimed at reducing operational complexity and costs, as well as focusing
resources on where the outlook is strongest. To protect and enhance
shareholder value, strategic focus will be directed toward markets where
demand, competitiveness, and growth potential are most aligned with the
company's strengths.

"This has been a difficult decision, especially considering the continued
dedication of our very competent team in South Korea. We are deeply grateful
for their efforts and professionalism over the years. While this marks the end
of our current journey in one market, it strengthens our ability to deliver
value in others", says CEO Robert Borin.

Customers in the remaining geographies will continue to receive full support
and access to our solutions, with no disruption to service or delivery.

Cavendish remains in solid position to support continued growth and innovation
across its core markets.

For further information, please contact:
Mirza Koristovic, Head of Investor Relations
IR@cavendishh2.com
+47 938 70 525

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-09-30 08:55 CEST.

About Cavendish Hydrogen ASA | www.cavendishh2.com
Cavendish Hydrogen is a global leader in hydrogen fueling solutions for the
mobility sector. Driven by the vision to end emission from mobility, Cavendish
is committed to providing safe, competitive, and reliable hydrogen fueling
solutions, offering the convenience of traditional fuels but with zero
emissions. The company covers the entire value chain from development and
production to installation, commissioning, and maintenance. Through value
creation and cutting-edge technology, Cavendish is setting new standards for
fueling heavy-duty vehicles with reliable hydrogen solutions. Cavendish
Hydrogen ASA is listed on the Oslo Stock Exchange (CAVEN) and headquartered in
Herning, Denmark.

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