Slide 1: Hexagon Purus Q1 2026
Hexagon Purus Q1 2026 12 May 2026
Slide 2: Disclaimer and important notice
Disclaimer and important notice This company presentation (the “Presentation”) has been prepared by Hexagon Purus ASA (“Purus” or the “Company”). The Presentation has not been reviewed or registered with, or approved by, any public authority, stock exchange or regulated marketplace. The Company make
Slide 3: Agenda
Agenda 1 2 3 Q1 2026 FINANCIALS OUTLOOK UPDATE AND Q&A 3
Slide 4: Company update Q1 2026
Company update Q1 2026
Slide 5: Key developments in Q1 2026
Key developments in Q1 2026 HEADLINE AND UNDERLYING EXECUTED FURTHER COMPLETED DIVESTMENT SIGNED FUNDING REVENUE IMPROVED WORKFORCE REDUCTIONS OF US AEROSPACE AGREEMENT FOR CHINA JV YEAR-OVER-YEAR ACROSS THE GROUP BUSINESS TO SPACEX WITH CIMC ENRIC NOKM +76% 405 134 230 271 Q1 2025 Q1 2026¹ 5 Note:
Slide 6: Revenue and EBITDA in Q1 2026 impacted by extraordinary gains
Revenue and EBITDA in Q1 2026 impacted by extraordinary gains REVENUE EBITDA MARGIN ORDERBOOK NOKM NOK 463 MILLION +76% 0% 468 405 -21% 28% 42% 134 -46% 11% 252 92M 230 IN IAC² FOR 19% 193 Q1 2026 -83% HYDROGEN INFRASTRUCTURE³ 271 -105% HYDROGEN MOBILITY⁴ BATTERY ELECTRIC MOBILITY⁵ OTHER APPLICATION
Slide 7: Underlying revenue mix shifted towards hydrogen infrastructure in Q1 2026
Underlying revenue mix shifted towards hydrogen infrastructure in Q1 2026 H2 Infrastructure H2 Mobility Battery Mobility Other Applications Divestments¹ Q1 2025 vs. Q1 2026 LTM 2025 vs. LTM 2026 NOK NOK NOK NOK 230M 405M 1,699M 1,319M • Higher underlying year-over-year activity in hydrogen infrastru
Slide 8: Higher activity in hydrogen infrastructure in Q1 2026
Higher activity in hydrogen infrastructure in Q1 2026 Q1 2026 YEAR-OVER-YEAR REVENUE BRIDGE | NOKM • Growth in revenue from hydrogen +175 infrastructure driven mainly by higher (+76%) hydrogen distribution volumes 405 • Revenue from hydrogen mobility impacted by lower hydrogen transit bus 134 volume
Slide 9: Near-term focus on converting active dialogues to firm orders
Near-term focus on converting active dialogues to firm orders ORDER BOOK¹ APPLICATION SPLIT YEARLY SPLIT AS OF Q1 2026 AS OF Q1 2026 AS OF Q1 2026 (NOKM) (%) (%) Orderbook Divested business 1,056 11% 2% 974 28% 275 NOK 42% NOK 792 254 728 463M 463M 162 11% 208 87% 19% 463 781 HYDROGEN INFRASTRUCTURE
Slide 10: Material progress has been made on the portfolio review
Material progress has been made on the portfolio review BUSINESS PORTFOLIO REVIEW A B C BATTERY SYSTEMS & HYDROGEN MOBILITY & CHINA VEHICLE INTEGRATION INFRASTRUCTURE JOINT VENTURE 10
Slide 11: Material impact from restructuring actions taken over the past year
A B Material impact from restructuring actions taken over the past year BROAD-BASED WORKFORCE REDUCTION ACROSS THE GROUP (HEADCOUNT) CAPACITY COSTS Material actions taken to align capacity costs ~850 through adapting operating model, reduce cost base and protect liquidity BREAK-EVEN POINT Existing c
Slide 12: Divestment of the aerospace business to SpaceX completed in March 2026
B Divestment of the aerospace business to SpaceX completed in March 2026 SUMMARY TRANSACTION PARAMETER SCOPE OF THE ENTERPRISE TRANSACTION TRANSACTION VALUE SETTLEMENT Sale of 100% of the Enterprise value USD 12.5 million payable shares of Hexagon of approximately in cash at closing and a Masterwork
Slide 13: Financing agreement signed with CIMC Enric for China JV
C Financing agreement signed with CIMC Enric for China JV • CIMC Enric will provide funding for the China JV in 2026 in exchange for a higher ownership share in the joint venture • Minimizing Hexagon Purus’ cash outflow to the China JV, while ensuring continued operations and market presence in Chin
Slide 14: Financials Q1 2026
Financials Q1 2026
Slide 15: Group P&L | Q1 2026
Group P&L | Q1 2026 Profit & Loss (NOK ‘000) Q1 2026¹ Q1 2025¹ FY 2025 FY 2024 FY 2023 • Revenue increased 76% year-over-year in Q1 2026, including extraordinary gains of NOK 134 Total revenue 405,282 230,020 1,143,892 1,875,839 1,319,614 million related to the divestment of the US Cost of materials
Slide 16: Hydrogen Mobility & Infrastructure (HMI)
Hydrogen Mobility & Infrastructure (HMI) HMI BUSINESS IN BRIEF • Hydrogen cylinders and systems manufacturing and assembly in Europe (Kassel and Weeze, Germany), including the Company’s industrial gas and U.S. aerospace business (until 1 Weeze Kassel March 2026) (Germany) (Germany) • Business unit l
Slide 17: Hydrogen Mobility & Infrastructure (HMI) financial results
Hydrogen Mobility & Infrastructure (HMI) financial results REVENUE | NOKM EBITDA | NOKM Hydrogen Infrastructure Hydrogen Mobility Other +11% 227 204 69 -64 67 (30%) (33%) 57 (25%) 95 (46%) 101 42 -143 (45%) (21%) Q1 2025 Q1 2026 Q1 2025 Q1 2026 • Revenue grew 11% year-over-year, driven by stronger a
Slide 18: Battery Systems and Vehicle Integration (BVI)
Battery Systems and Vehicle Integration (BVI) BVI BUSINESS IN BRIEF • Battery systems production (Kelowna, Canada) and complete vehicle integration of battery electric and fuel cell electric vehicles (Dallas, US) for the North American market Kelowna (Canada) Dallas • Complete suite of key component
Slide 19: Battery Systems & Vehicle Integration (BVI) financial results
Battery Systems & Vehicle Integration (BVI) financial results REVENUE | NOKM EBITDA | NOKM -34% 25 -26 17 -54 Q1 2025 Q1 2026 Q1 2025 Q1 2026 • BVI revenue comprised one Class 6 battery-electric truck delivered to Hino, • Year-over-year EBITDA improvement, reflecting effects of cost reduction batter
Slide 20: Group balance sheet | Q1 2026
Group balance sheet | Q1 2026 ASSETS | NOKM EQUITY & LIABILITIES | NOKM • The Q1 2026 balance sheet reflects the deconsolidation of the China JV and 3,510 3,510 divestment of the US aerospace business, 132 70 with a combined net asset reduction of 147 313 2,972 NOK 401m 2,972 94 58 113 549 238 • Inv
Slide 21: Group cash flow | Q1 2026
Group cash flow | Q1 2026 NOKm OPERATING: INVESTING: FINANCING & FX: NOK -44M NOK +119M NOK -33M • Net cash flow of NOK 42m in Q1, resulting in a cash balance of NOK 364m at quarter-end +42 • Negative operating cash flow of 1 -0 -0 NOK -44m, driven by operating -19 364 -13 losses, partly offset by a
Slide 22: Outlook and Q&A Q1 2026
Outlook and Q&A Q1 2026
Slide 23: Outlook continues to be impacted by a challenging market backdrop
Outlook continues to be impacted by a challenging market backdrop HYDROGEN MOBILITY & INFRASTRUCTURE BATTERY SYSTEMS & VEHICLE INTEGRATION HYDROGEN MOBILITY HYDROGEN INFRASTRUCTURE BATTERY MOBILITY Transit bus activity expected to remain The orderbook gives reasonable visibility but The orderbook pr
Slide 24: Main priorities for 2026
Main priorities for 2026 INCREASE ORDERBOOK CONTINUE TO EXECUTE ON COST MAINTAIN SUFFICIENT REDUCTIONS AND BUSINESS LIQUIDITY AND REVIEW PORTFOLIO REVIEW CAPITAL STRUCTURE 24
Slide 25: Shifting geopolitical dynamics reshaping renewable energy's role
Shifting geopolitical dynamics reshaping renewable energy’s role as an enabler of energy security and resilience 25
Slide 26: Q&A
Q&A 26
Slide 27: Appendix
APPENDIX HEXAGON PURUS
Slide 28: Quarterly Group revenue and EBITDA development
Quarterly Group revenue and EBITDA development 1,876 528 544 REVENUE 468 1,320 1,319 407 396 405 1,144 372 380 366 964 NOK 330 MILLION 259 244 252 222 230 210 193 508 159 94 103 52 Q1 2021 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 LTM Q1 2021
Slide 29: Financial statements | Group P&L
Financial statements | Group P&L Profit & Loss (NOK ‘000) Q1 2026¹ Q1 2025¹ FY 2025 FY 2024 FY 2023 Revenue from contracts with customers 270,444 229,897 1,136,658 1,843,525 1,311,811 Other operating revenue 134,838 124 7,234 32,314 7,803 Total revenue 405,282 230,020 1,143,892 1,875,839 1,319,614 Co
Slide 30: Financial statements | Segments P&L
Financial statements | Segments P&L Segment Profit & Loss (NOK ‘000) Q1 2026¹ Q1 2025¹ FY 2025 FY 2024 Hydrogen Mobility & Infrastructure (HMI) Revenue from contracts with customers 226,889 203,725 1,028,087 1,780,382 Other operating revenue 324 103 90 2,073 Total revenue 227,213 203,828 1,028,177 1,
Slide 31: Financial statements | Group balance sheet
Financial statements | Group balance sheet Balance sheet (NOK ‘000) Q1 2026¹ Q1 2025¹ FY 2025 Property, plant and equipment 648,054 1,142,250 952,380 Right-of-use assets 312,305 530,533 421,315 Intangible assets 593,080 657,622 664,032 Investment in associates and joint ventures 216,922 25,048 34,65
Slide 32: Financial statements | Group cash flow
Financial statements | Group cash flow Cash Flow (NOK ‘000) Q1 2026¹ Q1 2025¹ FY 2025 FY 2024 FY 2023 Profit before tax -173,410 -387,257 -1,536,594 -1,211,669 -691,310 Depreciation, amortisation and impairment 58,115 62,375 539,127 562,213 149,785 Other income (gain of sale of subsidiary and deconso
Slide 33: Investor relations information
Investor relations information EXCHANGE INFORMATION SHARE TRADING STATISTICS INVESTOR BASE1 • TICKER SYMBOL: HPUR • ISIN: NO0010904923 • EXCHANGE: OSLO STOCK EXCHANGE NOK ~0.6bn ~6,098 MARKET CAPITALIZATION1 SHAREHOLDERS 51.6% NOK ~7.7m FREE FLOAT3 DAILY TURNOVER2 FINANCIAL CALENDAR EQUITY ANALYST C
Slide 34: Top 20 shareholders
Top 20 shareholders # SHAREHOLDER NUMBER OF SHARES HELD % OF SHARES OUTSTANDING 1 HEXAGON COMPOSITES ASA 148 214 226 34,6 % 2 CLEARSTREAM BANKING S.A. 98 240 940 22,9 % 3 Sumitomo Mitsui Trust Bank (U.S.A) 58 978 293 13,8 % 4 Worthington Industries Int S.a.r.l 16 364 607 3,8 % 5 FLAKK COMPOSITES AS
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