Hynion AS – Restructuring Update

Hynion AS (“Hynion” or the “Company”) is currently undergoing a balance sheet restructuring with the objective of securing continuity and safeguarding value for the Company’s creditors and shareholders, respectively. The restructuring process is nearing completion, with a successful outcome dependent on the achievement of a limited number of remaining milestones.

From the outset, the restructuring effort has been supported by the Company’s creditors, and all costs associated with the execution of the process have been funded by a third-party investor in order to avoid any preferential treatment among creditors, given the inherent bankruptcy risk.

As of today, Hynion and a third-party investor supportive of the restructuring initiative have reached conditional agreements with a total of 15 creditors in Hynion. Restructuring status:

• Approximately NOK 6.75 million of debt converted to equity through Tranche 1 and 2 of the previously announced share issuances.

• Approximately NOK 9.8 million of remaining debt, of which the majority has entered into conditional debt sale agreements with a supportive third-party investor. The Company has not yet reached an agreement with Eminova Fondkommission AB regarding a claim of approximately SEK 2.7 million.

• Approximately NOK 15.5 million in legal exposure related to a parent company guarantee originating from Hynion Sverige AB. Hynion is ranked pari passu with four private individuals, settlement negotiations between the parties are ongoing.

• A framework has been established with an industrial counterparty for the sale of the Company’s Hydrogen fueling asset in Porsgrunn for an undisclosed sum.

Timeline going forward: Given the urgent timeline and the need to ensure fiscal and regulatory compliance, the Board of Directors in Hynion will convene on Wednesday, 14 January at 18:00 CET to determine whether a holistic restructuring package is feasible. The Board will continue its dialogue with Eminova Fondkommission AB, the Company’s legal counterparty in Sweden, and remaining creditors with the objective of avoiding bankruptcy.

For further information please contact:

Lavrans Grjotheim, CEO

Phone: +47 400 49 141

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