HYON AS – Amendment option program

(Oslo, 23 March 2023) (HYON, OSE: HYON)

In the board meeting held on 25 October 2021, the Board of Directors of Hyon AS (the “Company”) established a share option program to employees and key persons in the Company for up to 10% of outstanding shares after the planned equity issue in November 2021.

As of today, 2 400 000 options are allocated and 3 156 752 are not yet allocated.

The strike price in the option program was originally in the range from Nok 3,5 kr to Nok 7,0 kr.

The Board of Directors has decided to adjust strike prices for all outstanding options to better reflect the market share price and thereby to better incentivize key employees in the Company. The change is also made to attract the right competence for future hires.

The following changes has been decided by the board:

The Board has resolved to amend the strike prices for a total of 2 4 000 000 share options previously granted, held by 6 employees with 400 000 share options each. The strike prices of these options are now as set out below:

· 1/3 of share options, vesting on the date falling 2 year after their
grant date, hold a strike price of NOK 0,8;
· 1/3 of share options, vesting on the date falling 3 years after their
grant date, hold a strike price of NOK 1,5;
· 1/3 of share options, vesting on the date falling 4 years after their
grant date, hold a strike price of NOK 3,0.
 

For further information, please contact:

Jørn Kristian Lindtvedt, CEO, +47 95270739 or

Jan Frode Andersen, CFO +47 9822 8115

About Hyon | https://hyon.energy/

HYON delivers high-capacity hydrogen fueling systems for ships. We enable hydrogen to be transferred from shore to ships in a fast and safe manner. HYON was founded in 2017, is headquartered in Drammen, Norway and is backed by strong industrial owner Norwegian Hydrogen. We're on a mission to accelerate the energy transition in the maritime sector, aiming to be the leading provider of high-capacity hydrogen fueling solutions for ships.