2 May 2022: The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has resolved to provisionally award up to 2,808,616 Performance Share Units ("PSUs") to executives. The PSU allocation is in accordance with the Board of Director's compensation policy for the executive management. This policy is described in the Company’s Guidelines for remuneration of executive management as approved at the Annual General Meeting on 28 April 2021. The PSUs are non-transferable and will vest on 28 February 2025 subject to satisfaction of the applicable vesting conditions.

The actual number of PSUs to be allocated will depend on 2022 and 2023 financial performance and attain minimum zero and maximum 2,808,616. Each vested PSU will give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10. The total number of outstanding restricted share units and PSUs are now 208,852 and provisionally 7,904,640 respectively. Of the maximum 2,808,616 provisionally awarded PSUs, maximum 904,688 PSUs will provisionally be awarded to primary insiders.

Further details of the primary insider's transactions pursuant to the market abuse regulation article 19 are attached.

For additional 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 subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Attachment

• Notification of transactions 2 May 2022