29 August 2022: The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has decided to provisionally award up to 175,000 Restricted Share Units ("RSUs") under a Long-Term Incentive Program (LTIP) to align the interests of the participating employees with those of the Company's shareholders.

The RSU 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 RSUs are non-transferable and will vest on 29 August 2025 given that the participants are still rendering services to the company throughout the period from Grant date to Vesting date. Each vested RSU 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 383,852 and provisionally 5,028,864 respectively. Of the maximum 175,000 provisionally awarded RSUs, maximum 10,000 RSUs will provisionally be awarded to primary insiders.

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

For more information:

Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA Telephone: +47 950 38 364 | [email protected]

Karen Romer, SVP Communications, Hexagon Composites Telephone: +47 950 74 950 | [email protected]

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 29 August 2022