Hexagon Purus receives order to deliver hydrogen distribution systems to a leading player within the green hydrogen ecosystem

(Oslo, 3 December 2023) Hexagon Purus, a world leading manufacturer of zero
emission mobility and infrastructure solutions, has received purchase orders for
the delivery of hydrogen distribution systems to a leading player within the
green hydrogen ecosystem, worth approximately EUR 9.6 million. Hexagon Purus'
hydrogen distribution systems, including its type 4 hydrogen cylinders, will be
used to deliver green hydrogen to industrial applications in Central Europe.

Driving Energy Transformation

"There is a growing need to move hydrogen around, and our distribution systems
are significantly more cost-effective than traditional metal tube transportation
solutions. We expect demand for our systems to gain further momentum as green
hydrogen increasingly becomes part of the hydrogen mix", says Michael
Kleschinski, EVP Hydrogen Infrastructure & Mobility at Hexagon Purus.

About the market

The industrial and mobility sectors account for close to 50% of annual carbon
emissions globally, and hydrogen has a significant role to play in reducing
these emissions, particularly in hard-to-abate sectors. Making green hydrogen
available for use in industrial processes and mobility 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 and more than 1,000 hydrogen projects have been announced globally
to date. Green hydrogen is projected to supply up to 25% of the world's energy
needs by 2050.

Timing

Delivery of the hydrogen systems is scheduled from Q2 2024 to Q3 2024.

For more information:

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

Eli Turander, Global Communications Director, Hexagon Purus
Telephone: +47 953 35 795 | eli.turander@hexagonpurus.com
(mailto:eli.turander@hexagonpurus.com)

About Hexagon Purus

Hexagon Purus 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.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

(Oslo, 7 December 2023) Hexagon Purus, a world leading supplier of zero-emission infrastructure and mobility solutions, has been awarded a purchase order by Ford Trucks to deliver a complete hydrogen fuel storage system for development of a Fuel Cell Electric-Powered Vehicle (FCEV) F-MAX as part of the Horizon Europe project ZEFES (Zero Emission Freight EcoSystem), a zero-emission logistics deployment project in which Ford Trucks participates with the vision of pioneering future transportation solutions. As a partner in project ZEFES, a pan-European project specifically targeting decarbonization of long-haul heavy- duty trucking in Europe, Ford Trucks will develop and deliver a fuel cell electric heavy-duty prototype F-MAX truck that will operate as part of a larger fleet of zero-emission trucks collecting data from real-world operations. The F-MAX FCEV will be Ford Trucks' first fuel cell-powered vehicle, developed and manufactured in Turkey, and will begin European Ten-T corridor demonstrations in 2025 as part of the ZEFES project goals. Driving Energy Transformation "We focus our investment, R&D and innovation efforts in line with our global electrification strategy to be a leading player in the decarbonization transformation happening in the automotive industry", says Ford Trucks' Vice President Emrah Duman. "We are very happy to have the support from Hexagon Purus as an experienced partner in our development plan of a fuel-cell electric heavy- duty truck as part of project ZEFES". "We are using our in-depth knowledge of lightweight, reliable and safe hydrogen storage technology to help Ford Trucks pave the way for fuel-cell electric long- haul heavy-duty trucking in Europe", says Michael Kleschinski, EVP of Hexagon Purus. "We are excited to be selected by Ford Trucks to support their development plan as part of project ZEFES". 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, particularly in "hard to abate" sectors. Making green hydrogen available for use in amongst other the mobility sector is critical to reducing carbon emissions. As a part of Horizon Europe, the EU's key funding program for research and innovation to tackle global challenges, project ZEFES aims specifically at addressing the decarbonization of long-haul heavy-duty freight across Europe. The project will deploy a total of nine different long-haul truck configurations split into six battery electric- and three fuel-cell electric trucks. The nine trucks will operate for 15 months and collect up to one million kilometers of driving data from real-world operations. With 40 partners from 14 countries and a total investment program of EUR 35.5 million, project ZEFES will bring together the road transport value chain to move the transportation sector one step closer to EU's Green Deal emission targets. Timing Delivery of the complete hydrogen storage system is scheduled for Q1 2024. For more information: Elinor Turander, Global Communication Director, Hexagon Purus Telephone: +47 953 35 795 I eli.turander@hexagonpurus.com Mathias Meidell, Investor Relations Director, Hexagon Purus Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com About Ford Trucks: Ford's only heavy commercial brand, Ford Trucks produces a range of vehicles including tractors, construction trucks, and distribution trucks weighing over 16 tons. Our '2019 International Truck of the Year (IToY)' award-winning F-MAX has brought critical acclaim and high global demand. Ford commercial vehicles' proven track record of quality, durability, and efficiency underpins Ford Trucks' international product strategy based on the best total cost of ownership promise. At Ford Trucks, we combine more than half a century of design and production experience with expertise in market-specific product development, to engineer the main components of our vehicles, including the all-new engines. We currently operate across Europe, the Middle East, Africa, and the CIS, and continue to grow our international network on 3 continents. Hundreds of thousands of trucks all around the world set out each and every day with the confidence that Ford provides. For more information about Ford Trucks and its products worldwide, please visit www.fordtrucksglobal.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 and follow @HexagonPurus on Twitter and LinkedIn.