Hexagon Purus Asa · OSL:HPUR
Hexagon Purus Asa — Q3 2026 Earnings Presentation
33 slides from Hexagon Purus Asa's earnings presentation, Oct 20, 2026
Slide 1: Hexagon Purus Q3 2026
Hexagon Purus Q3 2026 20 October 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 Q3 2026 FINANCIALS OUTLOOK UPDATE AND Q&A 3
Slide 4: Company update Q3 2026
Ue opaiee Q3 oor. ax HEXAGON PURUS
Slide 5: Key developments in Q3 2026
Key developments in Q3 2026 STABLE SUBSTANTIALLY IMPROVED ORDER BOOK SEQUENTIAL REVENUE REDUCED COST BASE VISIBILITY FOR 2027 NOKM 2027 ORDERBOOK +3% 2.5X GROWTH ~200 146 150 ~50% ~80 FIXED COST BASE REDUCTION³ Q2 2026 Q3 2026 Q2 2026 Q3 2026 Note: 1) Excludes Q3 2025 revenue of (i) NOK 65m from div
Slide 6: Revenue and EBITDA in Q3 2026 impacted by lower activity
Revenue and EBITDA in Q3 2026 impacted by lower activity QUARTERLY REVENUE QUARTERLY EBITDA NOKM NOKM Organic revenue Divested revenue¹ M&A² EBITDA Items affecting comparability³ M&A² 2 468 103 405 134 134 7 252 -23 54 74 -90 -85 -78 -94 365 150 -76 146 -20% 7 -12 -17 217 -22 -43 -83 179 -99 -102 14
Slide 7: Higher volumes in battery mobility shifted underlying revenue mix in Q3 2026
Higher volumes in battery mobility shifted underlying revenue mix in Q3 2026 H2 Infrastructure H2 Mobility Battery Mobility Other applications Q3 2025 vs. Q3 2026¹ LTM 2025 vs. LTM 2026¹ • Like-for-like basis excluding revenue 100% 100% 100% 100% from divested business and M&A 13% 17% • Revenue from
Slide 8: Higher activity in battery mobility offset by lower volumes in hydrogen infrastructure and transit bus
Higher activity in battery mobility offset by lower volumes in hydrogen infrastructure and transit bus in Q3 2026 Q3 2026 YEAR-OVER-YEAR REVENUE BRIDGE | NOKM -102 • Decrease in revenue from hydrogen (-40%) infrastructure driven mainly by lower 252 hydrogen distribution volumes compared same period
Slide 9: Improved order book visibility for 2027
Improved order book visibility for 2027 ORDER BOOK¹ APPLICATION SPLIT YEARLY SPLIT 2027 ORDER BOOK (NOKM) AS OF Q3 2026 AS OF Q3 2026 (% OF TOTAL ORDERBOOK) (% OF TOTAL) (% OF TOTAL) Order book 2% 20% 3x 40% NOK 40% NOK 781 8% 720 508M 55% 508M 58% 629 -3% 17% 520 523 508 463 HYDROGEN INFRASTRUCTURE
Slide 10: Cost base cut by ~50% compared to 2024
Cost base cut by ~50% compared to 2024 ANNUALIZED Q3 2026 COST BASE VERSUS FY-2024¹ (NOKM) HEADCOUNT REDUCTION 1 143 More than 50% reduction in total Group workforce compared to year-end 2024 has significantly reduced payroll costs LOWER OTHER OPEX Reduced spend on inter alia third-party services, m
Slide 11: HyCarrier – the next generation hydrogen distribution system
HyCarrier – the next generation hydrogen distribution system FIRST CUSTOMER DELIVERY PLANNED FOR APRIL 2027 11
Slide 12: HyCarrier reduces total cost of ownership for on-road transport of hydrogen
HyCarrier reduces total cost of ownership for on-road transport of hydrogen and further strengthens Hexagon Purus’ competitive position 1 2 3 4 HIGHER LONGER MODULAR NEW PAYLOAD SERVICE INTERVALS DESIGN SAFETY DESIGN Allows for more 10-year inspection Faster and easier Features built directly hydrog
Slide 13: Financials Q3 2026
Financials Q3 2026
Slide 14: Group P&L | Q3 and YTD 2026
Group P&L | Q3 and YTD 2026 Profit & Loss (NOK ‘000) Q3 2026¹ Q3 2025¹ YTD 2026¹ YTD 2025¹ FY 2025 Total revenue and income 150,367 252,326 701,475 675,840 1,143,892 • Revenue of NOK 150 million in Q3 2026, Cost of materials 84,037 119,037 327,388 366,544 704,436 down 40% compared to same period; Pay
Slide 15: Hydrogen Mobility & Infrastructure (HMI)
Hydrogen Mobility & Infrastructure (HMI) HMI BUSINESS IN BRIEF • Hydrogen cylinders and systems manufacturing and industrial gas business in Europe Weeze Kassel • Business unit led by Dr. Michael Kleschinski, Executive Vice (Germany) (Germany) President, based in Kassel, Germany HYDROGEN CYLINDERS S
Slide 16: Hydrogen Mobility & Infrastructure (HMI) | Q3 2026
Hydrogen Mobility & Infrastructure (HMI) | Q3 2026 REVENUE | NOKM EBITDA | NOKM Hydrogen Infrastructure Hydrogen Mobility¹ Other² -23% 601 -55% -34 (-33%) 191 -47 (-20%) 233 (32%) 461 65 129 (28%) (28%) 277 117 -151 (-33%) 94 104 (46%) (25%) (40%) 31 (30%) 32 216 75 133 41 (30%) (47%) (32%) (22%) -2
Slide 17: 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 18: Battery Systems & Vehicle Integration (BVI) | Q3 2026
Battery Systems & Vehicle Integration (BVI) | Q3 2026 REVENUE | NOKM EBITDA | NOKM +8% 68 63 -30 -28 +176% 35 -75 13 -115 Q3 2025 Q3 2026 YTD 2025 YTD 2026 Q3 2025 Q3 2026 YTD 2025 YTD 2026 • Revenue of NOK 35 million in Q3 2026, up 176% year-over-year on the back • The higher revenue did not transl
Slide 19: Group balance sheet | Q3 2026
Group balance sheet | Q3 2026 ASSETS | NOKM EQUITY & LIABILITIES | NOKM 2,972 2,972 2,814 2,623 94 2,814 113 58 • PP&E and lease liabilities broadly 60 56 238 79 2,623 109 134 stable, reflecting a structurally lower 180 74 CAPEX profile 388 198 382 360 • Inventory down to NOK 360 million, 1,867 whic
Slide 20: Group cash flow | Q3 2026
Group cash flow | Q3 2026 NOKm OPERATING: INVESTING: FINANCING & FX: NOK -67M NOK 9M NOK -30M -88 • Net cash flow of NOK -88m in the quarter, bringing the cash balance 308 to NOK 220m at the end of the quarter -3 2 -0 -0 -1 -2 10 -18 -11 220 • Operating cash flow of NOK -67m 80 mostly driven by oper
Slide 21: Outlook Q3 2026
Outlook Q3 2026
Slide 22: Navigating a challenging market with clear targets and ambitions
Navigating a challenging market with clear targets and ambitions Demand Targeted cost Order book and lower Continue to navigate visibility remains cuts have been cost base provides the market and adjust challenging despite delivered with a ~50% opportunity to operations, costs and recent positive si
Slide 23: Main priorities for remainder of 2026
Main priorities for remainder of 2026 EXECUTE ON CURRENT MANAGE COSTS BALANCE SHEET ORDER BOOK AND LIQUIDITY RESTRUCTURING BUILD ORDER BOOK FOR 2027 23
Slide 24: Q&A
Q&A 24
Slide 25: Appendix
APPENDIX HEXAGON PURUS
Slide 26: Quarterly Group revenue and EBITDA development
Quarterly Group revenue and EBITDA development 1,876 528 544 REVENUE 468 1,320 1,319 1,271 407 396 405 1,144 1,170 372 380 366 964 NOK 330 MILLION 259 244 252 222 230 210 193 508 159 146 150 94 103 52 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY 2021 FY 2022 FY 2023 FY 202
Slide 27: Financial statements | Group P&L
Financial statements | Group P&L Profit & Loss (NOK ‘000) Q3 2026¹ Q3 2025¹ YTD 2026¹ YTD 2025¹ FY 2025 Revenue 141,756 247,241 554,099 670,585 1,136,658 Other income 8,611 5,084 147,376 5,255 7,234 Total revenue 150,367 252,326 701,475 675,840 1,143,892 Cost of materials 84,037 119,037 327,388 366,5
Slide 28: Financial statements | Segments P&L
Financial statements | Segments P&L Segment Profit & Loss (NOK ‘000) Q3 2026¹ Q3 2025¹ YTD 2026¹ YTD 2025¹ Hydrogen Mobility & Infrastructure (HMI) Revenue 103,568 233,275 457,026 600,870 Other income 836 0 4,034 136 Total revenue and income 104,404 233,275 461,060 601,006 Total operating expenses 13
Slide 29: Financial statements | Group balance sheet
Financial statements | Group balance sheet Balance sheet (NOK ‘000) 30.09.2026¹ 30.09.2025¹ FY 2025 Property, plant and equipment 588,853 1,102,030 952,380 Right-of-use assets 299,016 499,428 421,315 Intangible assets 562,559 674,435 664,032 Investment in associates and joint ventures 203,552 36,087
Slide 30: Financial statements | Group cash flow
Financial statements | Group cash flow Cash Flow (NOK ‘000) Q3 2026¹ Q3 2025¹ YTD 2026¹ YTD 2025¹ FY 2025 Profit before tax -241,275 -366,646 -630,678 -1,026,578 -1,536,594 Depreciation, amortisation and impairment 40,409 68,230 142,939 196,393 539,127 Other income (gain of sale of subsidiary and dec
Slide 31: Investor relations information
Investor relations information EXCHANGE INFORMATION SHARE TRADING STATISTICS INVESTOR BASE1 • TICKER SYMBOL: HPUR • ISIN: NO0010904923 • EXCHANGE: OSLO STOCK EXCHANGE NOK ~0.2bn ~5,009 MARKET CAPITALIZATION1 SHAREHOLDERS 51.6% NOK ~7.1m FREE FLOAT3 DAILY TURNOVER2 FINANCIAL CALENDAR EQUITY ANALYST C
Slide 32: Top 20 shareholders
Top 20 shareholders # SHAREHOLDER NUMBER OF SHARES HELD % OF SHARES OUTSTANDING 1 HEXAGON COMPOSITES ASA 14 821 421 34.6 % 2 CLEARSTREAM BANKING S.A. 10 662 277 24.9 % 3 Sumitomo Mitsui Trust Bank (U.S.A) 5 897 829 13.8 % 4 Worthington Industries Int S.a.r.l 1 636 460 3.8 % 5 FLAKK COMPOSITES AS 895
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