Hexagon Purus ASA: Update to financial calendar 2023 and Q4 2022 trading update

(Oslo, 6 February 2023) Reference is made to the stock exchange announcement issued on 6 February 2023 at 19:44 CET. The Board of Directors of Hexagon Purus ASA has today decided to move the reporting date for the Company’s Q4 2022 and 2022 Annual reports to 25 April 2023. Consequently, the annual general meeting is moved to 25 May 2023. This change is made to facilitate the preparations required for a potential transfer of the Company’s shares to the main list of the Oslo Stock Exchange. A final decision by the Board of Directors to apply for a transfer to the main list of the Oslo Stock Exchange will be subject to prevailing market conditions at that time.

In the absence of Q4 2022 reporting in the near term, Hexagon Purus has decided to provide the following preliminary estimates and unaudited figures for Q4 and full year 2022:

• Q4 2022 revenue of approximately NOK 370 million and full year 2022 revenue of approximately NOK 960 million
• Q4 2022 EBITDA of approximately NOK -110 million and full year 2022 EBITDA of approximately NOK -410 million
• Q4 2022 cash flow from operations of approximately NOK 5 million and full year 2022 cash flow from operations of approximately NOK -340 million
• Ending Q4 2022 cash balance of approximately NOK 380 million

For full-year 2023, the Company is currently expecting revenue to grow by at least 50% year-over-year based on strong backlog and order trends. Relative EBITDA margin is expected to significantly improve year-over-year, but EBITDA will continue to be impacted by ramp-up of the organization and production facilities. Negative EBITDA for full-year 2023 is expected to widen by approximately 10% compared to full-year 2022.

The above numbers are unaudited and reflect estimates as of the date hereof. The figures remain preliminary and may be subject to change.

For more information:

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

About Hexagon Purus ASA

Hexagon Purus, a Hexagon Composites company, 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.