Hexagon Purus ASA: Hexagon Composites Board recommendation to distribute Hexagon Purus shares as dividend in kind

(Oslo, 7 June 2023) Reference is made to the stock exchange announcement by Hexagon Composites ASA (“Hexagon Composites”) on 7 June 2023 at 16.29 CET where its Board of Directors calls for an Extraordinary General Meeting (“EGM”) to request authorization to distribute up to 25% of its shares in Hexagon Purus ASA (“Hexagon Purus”) as a dividend in kind to its shareholders. The proposed dividend is subject to approval from an EGM in Hexagon Composites expected to be held on 28 June 2023. As a result of the share distribution, Hexagon Composites would undertake a non-controlling ownership stake in Hexagon Purus.

“Ever since carving-out from Hexagon Composites and listing on Euronext Growth back in December 2020, it has been a key priority for us to build a high-quality and diverse shareholder base to secure backing for our long-term growth targets. Following our transfer to the main list of the Oslo Stock Exchange earlier this year, we view the increased free float and stock market liquidity that would result from Hexagon Composites’ pending deconsolidation as a natural and important next step for Hexagon Purus as an independent company", says Morten Holum, CEO of Hexagon Purus. “We look forward to welcoming all Hexagon Composites shareholders to our exciting journey, enabling the transition to zero-emission mobility”.

See Hexagon Composites’ separate announcement for more details on the Board of Hexagon Composites’ recommendation to distribute shares in Hexagon Purus as dividend in kind and notice of EGM in Hexagon Composites.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus ASA
Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com

About Hexagon Purus

Hexagon Purus enables zero emission mobility for a cleaner energy future. The company is a world leading provider of hydrogen Type 4 high-pressure cylinders and systems, battery systems and vehicle integration solutions for fuel cell electric and battery electric vehicles. Hexagon Purus' products are used in a variety of applications including light, medium and heavy-duty vehicles, buses, ground storage, distribution, refueling, maritime, rail and aerospace.

Learn more at www.hexagonpurus.com and follow @HexagonPurus on Twitter and LinkedIn.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation. This stock exchange announcement was published by Mathias Meidell, IR Director at Hexagon Purus ASA, on 7 June 2023 at 16:30 CET.