Hexagon Purus Asa · OSL:HPUR
Hexagon Purus Asa — Q2 2026 Earnings Presentation
33 slides from Hexagon Purus Asa's earnings presentation, Jul 16, 2026
Slide 1: Hexagon Purus Q2 2026
Hexagon Purus Q2 2026 16 July 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 Q2 2026 FINANCIALS OUTLOOK UPDATE AND Q&A 3
Slide 4: Company update Q2 2026
Company update Q2 2026
Slide 5: Key developments in Q2 2026
Key developments in Q2 2026 STABLE YEAR-OVER-YEAR ORDER INTAKE DURING THE EXECUTED FURTHER REVENUE EXCLUDING QUARTER IMPROVES WORKFORCE REDUCTIONS DIVESTED BUSINESS REVENUE VISIBILITY FOR H2 2026 IN GERMANY NOKM -6% 155 146 Q2 2025¹ Q2 2026 5 Note: 1) Excludes divested revenue of NOK 38m following s
Slide 6: Revenue and EBITDA in Q2 2026 impacted by lower activity
Revenue and EBITDA in Q2 2026 impacted by lower activity QUARTERLY REVENUE QUARTERLY EBITDA NOKM NOKM -25% +37% 468 2 405 134 134 252 193 -133 38 146 -99 -102 271 -116 155 -161 17M RESTRUCTURING COSTS Q2 2025¹ Q3 2025 Q4 2025 Q1 2026² Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026² Q2 2026 6 Note: 1) Inclu
Slide 7: Underlying revenue mix shifted towards hydrogen infrastructure in Q2 2026
Underlying revenue mix shifted towards hydrogen infrastructure in Q2 2026 H2 Infrastructure H2 Mobility Battery Mobility Other Applications Divestments¹ Q2 2025 vs. Q2 2026 LTM 2025 vs. LTM 2026 NOK NOK NOK NOK 193M 146M 1 364M 1 271M • Higher underlying year-over-year 11% activity in hydrogen infra
Slide 8: Higher activity in hydrogen infrastructure in Q2 2026
Higher activity in hydrogen infrastructure in Q2 2026 Q2 2026 YEAR-OVER-YEAR REVENUE BRIDGE | NOKM • Growth in revenue from hydrogen -48 -9 infrastructure driven mainly by higher (-25%) (-6%) hydrogen distribution volumes 193 • Revenue from hydrogen mobility 64 -58 impacted by lower activity in hydr
Slide 9: Growth in order book improves visibility for second half of 2026
Growth in order book improves visibility for second half of 2026 ORDER BOOK¹ APPLICATION SPLIT YEARLY SPLIT AS OF Q2 2026 AS OF Q2 2026 AS OF Q2 2026 (NOKM) (%) (%) Orderbook Divested business 1,056 11% 2% 15% 974 15% 275 NOK 41% NOK 792 254 728 523M 523M 162 +13% 208 33% 83% 523 463 781 HYDROGEN IN
Slide 10: We continue to take out capacity costs to align cost base with demand
We continue to take out capacity costs to align cost base with demand BROAD-BASED WORKFORCE REDUCTION ACROSS THE GROUP (HEADCOUNT) CAPACITY COSTS Significant actions taken to align capacity costs ~850 through adapting operating model, reducing the cost base and protecting liquidity BREAK-EVEN POINT
Slide 11: Financials Q2 2026
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Slide 12: Group P&L | Q2 and YTD 2026
Group P&L | Q2 and YTD 2026 Profit & Loss (NOK ‘000) Q2 2026¹ Q2 2025¹ YTD 2026 YTD 2025 FY 2025 Total revenue 145,826 193,494 551,108 423,514 1,143,892 • Revenue of NOK 146 million in Q2 2026, Cost of materials 81,018 100,928 243,351 247,507 704,436 down 25% compared to the corresponding period in 2
Slide 13: 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 14: Hydrogen Mobility & Infrastructure (HMI) | Q2 2026
Hydrogen Mobility & Infrastructure (HMI) | Q2 2026 REVENUE | NOKM EBITDA | NOKM Hydrogen Infrastructure Hydrogen Mobility Other -3% 368 357 127 97 -52 (-40%) (34%) (27%) -76 (47%) -21% 78 (22%) -116 (-33%) 164 129 183 60 28 (50%) (37%) (22%) 21 181 88 (16%) (51%) 16 (54%) 80 58 (62%) -219 (-60%) (10
Slide 15: 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 16: Battery Systems & Vehicle Integration (BVI) | Q2 2026
Battery Systems & Vehicle Integration (BVI) | Q2 2026 REVENUE | NOKM EBITDA | NOKM -35% 50 -21 -31 -35% 33 -46 25 16 -85 Q2 2025 Q2 2026 YTD 2025 YTD 2026 Q2 2025 Q2 2026 YTD 2025 YTD 2026 • Revenue comprised of two Class 8 battery-electric trucks delivered to Hino • Year-over-year EBITDA improvemen
Slide 17: Group balance sheet | Q2 2026
Group balance sheet | Q2 2026 ASSETS | NOKM EQUITY & LIABILITIES | NOKM 2,972 2,972 94 2,814 58 2,814 • Inventory, property, plant and 113 equipment and lease liabilities 238 79 60 109 180 remained broadly stable, reflecting 388 working capital discipline and a 382 structurally lower CAPEX profile 6
Slide 18: Group cash flow | Q2 2026
Group cash flow | Q2 2026 NOKm OPERATING: INVESTING: FINANCING & FX: NOK -47M NOK -2M NOK -7M • Net cash flow of NOK -56m in the quarter, bringing the cash balance -56 to NOK 308m at the end of the quarter 364 -9 -2 -1 1 -0 -0 308 • Operating cash flow of NOK -47m -12 5 76 mostly driven by operating
Slide 19: Cash outflow continues to trend toward historically low levels
Cash outflow continues to trend toward historically low levels QUARTERLY AVERAGE NET CASH FLOW¹ (2023-H1 2026) LEANER COST BASE 2023 AVG. 2024 AVG. 2025 AVG. H1'26 AVG. Leaner cost base on the back of cost reduction measures implemented throughout the last 18 months NOK -331M STRUCTURALLY LOWER CAPE
Slide 20: Outlook Q2 2026
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Slide 21: Improved revenue visibility for second half of 2026
Improved revenue visibility for second half of 2026 HYDROGEN MOBILITY & INFRASTRUCTURE BATTERY SYSTEMS & VEHICLE INTEGRATION HYDROGEN MOBILITY HYDROGEN INFRASTRUCTURE BATTERY MOBILITY Transit bus activity expected to remain Improved demand visibility for Good revenue visibility with delivery of (i)
Slide 22: Largely executed according to the plan set back in 2025
Largely executed according to the plan set back in 2025 with a clear pathway towards a sustainable operational and financial profile ADVANCED STAGES 1 2 3 4 ALIGN CAPACITY LOWER BREAK- BUSINESS BALANCE SHEET AND COST BASE EVEN LEVELS PORTFOLIO REVIEW RESTRUCTURING More than 50% Break-even levels Opt
Slide 23: Main priorities for second half of 2026
Main priorities for second half 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 1,144 372 380 366 964 NOK 330 MILLION 259 244 252 222 230 210 193 508 159 146 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 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 LTM
Slide 27: Financial statements | Group P&L
Financial statements | Group P&L Profit & Loss (NOK ‘000) Q2 2026¹ Q2 2025¹ YTD 2026 YTD 2025 FY 2025 Revenue from contracts with customers 141,899 193,446 412,343 423,343 1,136,658 Other operating revenue 3,927 47 138,765 171 7,234 Total revenue 145,826 193,494 551,108 423,514 1,143,892 Cost of mate
Slide 28: Financial statements | Segments P&L
Financial statements | Segments P&L Segment Profit & Loss (NOK ‘000) Q2 2026¹ Q2 2025¹ YTD 2026 YTD 2025 Hydrogen Mobility & Infrastructure (HMI) Revenue from contracts with customers 126,570 163,870 353,459 367,595 Other operating revenue 2,874 34 3,198 136 Total revenue 129,443 163,903 356,656 367,
Slide 29: Financial statements | Group balance sheet
Financial statements | Group balance sheet Balance sheet (NOK ‘000) Q2 2026¹ Q2 2025¹ FY 2025 Property, plant and equipment 629,267 1,146,868 952,380 Right-of-use assets 318,391 512,302 421,315 Intangible assets 589,701 665,462 664,032 Investment in associates and joint ventures 209,638 28,555 34,65
Slide 30: Financial statements | Group cash flow
Financial statements | Group cash flow Cash Flow (NOK ‘000) Q2 2026¹ Q2 2025¹ YTD 2026 YTD 2025 FY 2025 Profit before tax -215,993 -272,675 -389,403 -659,932 -1,536,594 Depreciation, amortisation and impairment 44,415 65,788 102,530 128,163 539,127 Other income (gain of sale of subsidiary and deconso
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 ~0.5bn ~5,185 MARKET CAPITALIZATION1 SHAREHOLDERS 51.6% NOK ~7.5m 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. 10 373 985 24,2 % 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 1 0
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