Hexagon Purus enters into framework agreement to deliver hydrogen distribution systems to a leading global energy company

(Oslo, 5 July 2023) Hexagon Purus, a world leading manufacturer of zero emission
mobility and infrastructure solutions, has secured a five-year framework
agreement for the delivery of hydrogen distribution systems to a leading global
energy company. Hexagon Purus' hydrogen distribution systems including its type
4 hydrogen cylinders will be used to deliver hydrogen to a network of hydrogen
refueling stations in Europe. The framework agreement represents a potential
sales value of approximately EUR 27 million.

Driving Energy Transformation

"The demand for our distribution system technology continues to remain strong on
the back of increased use of hydrogen as feedstock in industry processes but
also increasingly for zero-emission mobility. Our hydrogen distribution systems
based on Type-4 high-pressure cylinders offers the optimal combination of weight
and payload resulting in lower total cost of ownership compared to other
available technologies for transportation of hydrogen", says Michael
Kleschinski, EVP of Hexagon Purus.

About the market

The mobility sector is accountable for approximately 20% of annual carbon
emissions globally, and hydrogen has a significant role to play in reducing
these emissions. Making green hydrogen available for use in the mobility sector
and in other "hard to abate" industrial sectors is critical to reduce carbon
emissions.

As hydrogen, a key contributor to the energy transition, continues to build
momentum globally, more than 30 countries have released hydrogen roadmaps, USD
320 billion in direct investments into hydrogen projects have been announced
through 2030, more than 1,000 hydrogen projects have been announced globally to
date and green hydrogen is projected to supply up to 25% of the world's energy
needs by 2050.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com
(mailto:mathias.meidell@hexagonpurus.com)

About Hexagon Purus

Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for
a cleaner energy future. The company is a world leading provider of hydrogen
Type 4 high-pressure cylinders and systems, battery systems and vehicle
integration solutions for fuel cell electric and battery electric vehicles.
Hexagon Purus' products are used in a variety of applications including light,
medium and heavy-duty vehicles, buses, ground storage, distribution, refueling,
maritime, rail and aerospace.

Learn more at www.hexagonpurus.com (http://www.hexagonpurus.com) and follow
@HexagonPurus on Twitter and LinkedIn.