Hexagon Purus ASA announced the completion of private placement of 10% senior unsecured convertible bonds due 2028 for a principal amount of NOK 1,000,000,000 on December 20, 2023. The bonds will bear a coupon rate of 10% and will mature in 5 years. The conversion price per common share in the Company for the Convertible Bonds has been set to NOK 12.61, which is a 25% premium to the volume-weighted average price of the Hexagon Purus share on the Oslo Stock Exchange over the 45 trading days up to and including 20 December 2023.The transaction included participation from Mitsui & Co., Ltd. for NOK 500,000,000 of convertible bonds, Clean Hydrogen Equipment Fund for NOK 150,000,000 of convertible bonds and Hexagon Composites ASA for NOK 200,000,000 convertible bonds.

The subscribers of the Convertible Bonds will receive 270,000,000 non-transferrable Warrants (the ?Warrants?) and 14,000,000 non-transferrable additional Warrants (the ?Additional Warrants?). The Warrants and Additional Warrants will be allocated pro-rata among the subscribers of the Convertible Bonds based on their respective allocations. The completion of the Convertible Bond Private Placement and issuance of the Convertible Bonds is subject to an approval at an extraordinary general meeting which is expected to be arranged on or about 11 January 2024.