2 March 2023: Hexagon Composite ASA has decided to initiate a buyback of up to 350,000 of its own shares for an amount up to NOK 20 million. The buyback program may be carried out in the period from this announcement and until 30 March 2023. The purpose of the program is to fulfil the Company's obligations under its incentive programs.

Hexagon Composites has engaged a third party to carry out the share buybacks in the market. The third party will make its trading decisions independently of, and uninfluenced by the Company. The share buybacks will be made in accordance with the authorization granted to the Board of Directors by the Company's Annual General Meeting held on 28 April 2022.

Transactions will be conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation").

Hexagon Composites holds 650,418 own shares as of the date of this announcement.

For more information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@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 www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.

This information is made public by Hexagon Composites pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.