HydrogenPro ASA - Exercise of options

Oslo, 6 March 2024: Option holders under HydrogenPro ASA's ("HydrogenPro" or the "Company", ticker code: HYPRO) share incentive program have today exercised a total of 216,000 options with a strike price of NOK 7.00 per share.

Further to the above, the Company's board of directors has in a board meeting held today, on 6 March 2024, resolved to increase the Company's share capital by a total of NOK 4,320, by issuance of 216,000 new shares in the Company. The share capital increase was resolved pursuant to an authorization to increase the Company's share capital granted by the annual general meeting on 24 May 2023.

Following registration of the share capital increase pertaining to the issuance of new shares, the share capital of the Company will be NOK 1,270,320.92, divided into 63,516,046 shares, each with a par value of NOK 0.02.

For further information, please contact:

Jarle Dragvik, CEO

+47 911 72 734

jarle.dragvik@hydrogenpro.com

Martin Thanem Holtet, CFO

+47 922 44 902

martin.holtet@hydrogenpro.com

About HydrogenPro:

HydrogenPro is a technology company and an OEM for high pressure alkaline electrolyser and supplies large scale green hydrogen technology & systems, all ISO 9001, ISO 45001 and ISO 14001 certified. 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 subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.