Reference is made to previous announcements regarding Hexagon Composites ASA (the “Company” or “Hexagon Composites”) intention to spin off Hexagon Purus and apply for Hexagon Purus’ shares to be admitted to trading on Euronext Growth Oslo. As part of the spin off and listing process, the Company on 29 November 2020 announced key dates for a distribution of dividends in the form of shares in Hexagon Purus to the Company's shareholders. The initial key dates for the dividend announced therein have been postponed by one trading day. Revised key dates are:

Dividend-in-kind amount: 0.15 Hexagon Purus AS shares per Hexagon Composites ASA share

Declared currency: NOK

Last day including right to dividend-in-kind: 4 Dec, 2020

Ex-date: 7 Dec, 2020

Record date: 8 Dec, 2020

Payment date (delivery to VPS accounts): On or about 14 Dec, 2020

Date of approval: 29 November, 2020

Other information: The shares in Hexagon Purus AS are expected to be tradable on Euronext Growth Oslo immediately upon delivery on the payment date. No fractional shares will be distributed. Hexagon Composites ASA's holdings of treasury shares will not be eligible for the distribution. The number of Hexagon Purus AS shares to be distributed as dividend-in-kind equals 30,242,956 shares. For eligible shareholders subject to withholding tax ("Withholding Tax Shareholders"), a portion of the dividend shares distributable to such Withholding Tax ("WHT") Shareholders corresponding to the withholding tax rate registered on such Withholding Tax Shareholders' VPS account will be withheld (the "Withheld Dividend Shares") to cover the applicable withholding tax for each WHT Shareholder. The Company will arrange for Withheld Dividend Shares to be sold for payment of the relevant withholding tax. No subsequent settlement towards the shareholders is intended.

For more information, please contact:

David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | [email protected]

Karen Romer, SVP Communications, Hexagon Composites ASA
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, including light-, medium- and heavy-duty vehicles, ground storage, distribution, marine, rail and backup power solutions.

Hexagon Purus in brief:
Hexagon Purus, a Hexagon Composites company, is a world leading provider of hydrogen type 4 high-pressure cylinders, battery packs and vehicle systems integration for fuel cell electric and battery electric vehicles. Hexagon Purus enables zero emission solutions for light, medium and heavy-duty vehicles, buses, ground storage, distribution, marine, rail, aerospace and backup power solutions.

Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.