HydrogenPro ASA – Disclosure of voting proxies at the annual general meeting

Oslo, 23 May 2023: Reference is made to the stock exchange announcement by HydrogenPro ASA (the "Company") on 3 May 2023 with notice of the annual general meeting to be held on 24 May 2023 (the "AGM").

In connection with the AGM, Terje Mikalsen has on 21 May 2023 received proxies without voting instructions for a total of 14 597 696 shares, corresponding to approx. 25.16% of the outstanding shares and votes in the Company. Mr. Mikalsen also controls 100% of the shares in TM Holding AS, a company holding 9 635 182 shares in the Company, corresponding to approx. 16.6% of the outstanding shares and votes. Consequently, Mr. Mikalsen will vote for a total of 24 232 878 shares at the AGM, corresponding to an aggregate of 41.76% of the outstanding shares and votes in the Company, and will exceed the 1/3 threshold pursuant to section 4-2 of the Norwegian Securities Trading Act, cf. section 4-4.

The proxies without voting instructions have been granted by Richard Espeseth for his 11 424 125 shares in the Company, corresponding to approx. 19.69% of the outstanding shares and votes, and by member of the board of directors, Vivian Espeseth, for her 3 173 571 shares in the Company, corresponding to corresponding to approx. 5.47% of the outstanding shares and votes.

Mr. Mikalsen further holds 163 005 share options through TM Holding AS. Neither Mr. Espeseth nor Ms. Espeseth hold any rights to shares in HydrogenPro ASA.

The voting proxies are only valid for the AGM on 24 May 2023.

This information is subject to the disclose requirements pursuant to sections 4-2 and 5-12 of the Norwegian Securities Trading Act.