NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. Reference is made to the stock exchange notice from Hexagon Composites ASA published on 2 December regarding a contemplated private placement of new shares in Hexagon Purus AS (the “Company” or “Hexagon Purus”). The Company is pleased to announce that it has raised approximately NOK 750 million in gross proceeds through a private placement (the “Private Placement”) of 27,472,527 new shares (the “New Shares”), at a price per share of NOK 27.3. The subscription price represents the maximum price within the communicated price range for the Private Placement. Following the completion of the Private Placement, the Company will have 229,092,239 shares outstanding, and a market capitalization based on the subscription price of NOK 6,254 million.The Private Placement attracted strong interest from both existing Hexagon Composites shareholders and new investors wishing to support Hexagon Purus in enabling zero emission mobility. Three cornerstone investors subscribed for and were allocated shares in the Private Placement for a total amount of NOK 190 million: i) Handelsbanken Fonder (NOK 75 million), ii) Delphi Funds (NOK 65 million) and iii) Storebrand Asset Management (NOK 50 million).The net proceeds from the Private Placement will be used for growth initiatives and for general corporate purposes. Completion of the Private Placement is subject to (i) all necessary corporate resolutions for consummating the Private Placement being validly made by the Company, including without limitation relevant approvals and resolutions by the Board of Directors and the Company's general meeting and (ii) the Offer Shares having been validly issued (by registration of the share capital increase pertaining to the issuance of the Offer Shares in the Norwegian Register of Business Enterprises) and delivered in the VPS. The Company has applied for, and will, subject to the necessary approvals from the Oslo Stock Exchange, list the shares of the Company on Euronext Growth Oslo. The first day of trading on Euronext Growth Oslo is expected to be on or about 14 December 2020. 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. Advisors Carnegie AS and Skandinaviska Enskilda Banken AB (publ) are acting as financial advisors and Joint Bookrunners in connection with the private placement and listing. Advokatfirmaet Schjødt AS is acting as the Company's legal advisor. Advokatfirmaet Thommessen AS is acting as legal advisor to the Managers. For more information, please contact: Morten Holum, CEO, Hexagon Purus Telephone: +47 995 09 930 | email@example.comDavid Bandele, CFO, Hexagon Composites Telephone: +47 920 91 483 | firstname.lastname@example.orgKaren Romer, SVP Communications, Hexagon Composites Telephone: +47 950 74 950 | email@example.com Important information: The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan Hong Kong or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject to the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of any offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.The Managers are acting for the Company and no one else in connection with the Listing and potential Private Placement in Purus, and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the Listing and Private Placement and/or any other matter referred to in this release. Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.