Nov 18, 2021 - Stock Exchange Release

Reference is made to the announcement on 22 May 2018, in which Hexagon Composites ASA (the "Company") announced the grant of 1,200,000 share options to employees under its employee share option program, each at a strike price of NOK 20.85 per share. Following the distribution of 15% of the shares in Hexagon Purus ASA as dividend in kind on 14 December 2020, the strike price has been adjusted by NOK 4.095 to "make whole" the 2018 options holders. The adjusted strike price is NOK 16.755 per share.

Of the 1,200,000 options, 800,000 options were granted to senior executives and managers listed as primary insiders

The following primary insider has exercised options on 18 November 2021, following the closing of insider positions in the Company. The Company settled the exercised options with treasury shares. After the transaction, the Company holds 967,955 shares in treasury. The table below shows the movements of the primary insider's accounts.

Primary insiderTitleOptions exercisedShares received upon exercise of optionsShares held before exercise of optionsShares held after exercise of options today and sale of sharesNumber of options held after exerciseNumber of PSUs held
Jack Schimenti

President Hexagon Digital Wave80,00063,370139,639203,0090155,530

To settle the tax obligation resulting from the option exercise, the following individual has sold shares representing 50% of the total 2018 options exercised:

Primary insiderTitleNumber of shares soldShare price soldTotal shares held after the sale
Jack Schimenti

President Hexagon Digital Wave40,00038.52 NOK163,009

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

The announcement is made by the contact person.

For more information:

Hiva Ghiri, VP Investor Relations, Hexagon Composites

Telephone: +47 958 66 790 |

About Hexagon Composites

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.