HydrogenPro ASA (OSE: HYPRO) – Changes to the Board of Directors in HydrogenPro

Oslo, October 4, 2023.

Ellen Hanetho has decided to step down as Chair of the Board of HydrogenPro with immediate effect. Terje Mikalsen has been appointed new Chair of the Board.

“I am proud to have contributed to the development and scaling of HydrogenPro to become a world-leading supplier of alkaline electrolysers, from the initial listing on Euronext Growth in 2020 and to the subsequent up-listing to Oslo Børs in 2022. As the Company has evolved, certain strategic directions have caused a difference of views, and I see it as natural to take the consequence of such differences and has therefore decided to step down. I would like to thank my board colleagues, the organization and our investors for a great collaboration during my tenure in HydrogenPro, and I wish the Company all the best and continued success going forward”, said Ellen Hanetho.

“We are very satisfied and grateful for Ellen Hanethos' contributions to HydrogenPro. For more than four years, her work and good professional knowledge have been of great value to the Company”, said Terje Mikalsen.

“We have announced a clearer commitment to the American market, and we are experiencing a market with strong growth and potential for HydrogenPro. I am spending a large part of my time in the US, and I look forward to taking the Company further into this market", concluded Terje Mikalsen.

Terje Mikalsen has been instrumental to the Company since 2013 and has extensive experience as an industrial leader, investor and founder and who has been behind companies such as Norsk Data and Hafslund Nycomed.

For more information, please contact:
Terje Mikalsen, +47 90 11 65 80

About HydrogenPro ASA:

HydrogenPro is a technology company and an OEM for high-pressure alkaline electrolysers and supplies large-scale green hydrogen technology & systems. The Company was founded in 2013 by individuals with background from the electrolysis industry which was established in Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering team of leading industry experts, drawing upon unparalleled experience and expertise in the hydrogen and renewable energy industry.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Olaf Thommessen, Head of Communication and Corporate Affairs, HydrogenPro ASA on 4 October 2023 at the time set out in this notice on behalf of the Company