20 December 2023: Reference is made to the stock exchange announcement from Hexagon Purus ASA ("Hexagon Purus" or the "Company") published 20 December 2023 at 16:31 (CET) whereby the Company announced the launch of a contemplated private placement of senior unsecured convertible bonds (the "Convertible Bonds") raising gross proceeds of up to approximately NOK 1,000 million (the "Convertible Bond Private Placement").

The Convertible Bond Private Placement is supported by Hexagon Composites ASA ("Hexagon Composites"), Mitsui & Co., Ltd. ("Mitsui") and Hy24 Partners SAS ("Hy24") through pre-commitments and pre-allocations for an aggregate of NOK 850 million, whereof Hexagon Composites has irrevocably committed to subscribe for, and will receive an allocation of NOK 200 million.

"Hexagon Purus has assumed market-leading positions in some of the strongest growing zero emission mobility and infrastructure technology segments globally. We are highly satisfied with the Company's performance and growth to date. We intend to continue working closely together with Hexagon Purus in areas of mutual interest and benefit and as previously stated, retain a significant ownership stake, says Jon Erik Engeset, CEO of Hexagon Composites."

The net proceeds from the Convertible Bond Private Placement will be used to support Hexagon Purus' growth strategy, including its ongoing global capacity expansion program and delivering on customer commitments to reach its 2025 financial targets of NOK 4-5 billion in revenues and break-even EBITDA.

The settlement of the Convertible Bonds is expected to take place on or around 1 February 2024 and is conditional on an extraordinary general meeting ("EGM") of the Company expected to be held on or about 11 January 2024 resolving to approve the issuance of the Convertible Bonds. Hexagon Composites and Mitsui have committed to vote in favour of the resolution at the EGM.

For key terms related to the Convertible Bond Private Placement, please refer to Hexagon Purus' stock exchange announcement.

For more information:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
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, industrial and consumer applications. Learn more at and follow @HexagonASA on Twitter and LinkedIn.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Ingrid Aarsnes, VP IR & ESG, Hexagon Composites ASA on 20 December 2023 at the time stamp of this release.