Cavendish Hydrogen ASA: Settlement Agreement with Iwatani Corporation of America

07 Jun 2026 10:15 CEST

June 7, 2026 -- Oslo, Norway) Reference is made to the press release dated
February 7, 2024, in which Nel ASA (Nel, OSE: NEL) announced that Iwatani
Corporation of America had filed a lawsuit against Nel and certain entities
that were, at the time, part of the Nel group, in connection with agreements
for the delivery of fueling equipment and services. Besides Nel, the
defendants included entities that are now part of Cavendish Hydrogen ASA
(Cavendish Hydrogen, OSE: CAVEN), as well as four individuals.

Iwatani, Nel, and Cavendish Hydrogen have resolved their dispute, and related
lawsuit, involving Iwatani's hydrogen fueling stations in California. The
dispute arose from technical and operational challenges in a developing
industry and has been resolved amicably and in the best interests of all
parties. With the issues now resolved to each party's satisfaction, Iwatani,
Nel, and Cavendish Hydrogen can confidently affirm each other's continuing
commitment to advancing the hydrogen fueling industry and remain open to
future collaboration.

The settlement amount for Cavendish Hydrogen is USD 3 million. While the
settlement represents a notable item on the balance sheet, it is not expected
to impact the Cavendish Hydrogen's outlook. The settlement eliminates further
legal costs and mitigates litigation risk in the US.

For additional information, please contact:

Cavendish Hydrogen ASA Investor Relations
Mirza Koristovic, Head of Investor Relations
IR@cavendishh2.com
+47 938 70 525

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.

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-06-07 10:15 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

675550_Cavendish Hydrogen ASA- Settlement Agreement with Iwatani Corporation of America.pdf