HYON AS – Transaction with Blue Concept Ltd. completed

(Oslo, 16 April 2024) (HYON, OSE: HYON) Reference is made to the stock exchange announcement on 31 March 2024 regarding the signing of the share purchase agreement with Blue Concept Ltd. (the "Transaction"), and to the stock exchange announcement on 16 April 2024 regarding the approval of the Transaction by HYON AS' extraordinary general meeting.

As a result of the Transaction, HYON AS has acquired 28,000 shares of Rapid Oil Ltd., against issuance of 156,647,596 new shares (the "Shares") and 388 941 212 warrants to Blue Concept Ltd. The Shares are expected to be issued and registered in the Norwegian Central Securities Depositary - Euronext Securities Oslo ("VPS") on or around 22 April 2024. The Shares cannot be traded before they are registered in VPS. Upon registration of the new share capital increase pertaining to the issuance of new shares, HYON AS' new share capital will be NOK 2,122,151.17 divided by 212,215,117 shares, each of par value NOK 0.01.

As announced on 16 April 2024, the general meeting resolved to change HYON AS' name to Knox Energy Solutions AS and to change the provision relating to the purpose of HYON AS. The new name and purpose of HYON AS will be registered upon registration of the share capital increase.

Additionally, Geir Aune and Georges Lambert have been elected as the board of directors.

For further information, please contact:

Harald B. Hansen, CEO, harald.hansen@hyon.energy

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.