HYDROGENPRO ASA Porsgrunn,12 May 2022 -HydrogenPro AS (OSE:HYPRO ) held the Annual General Meeting today at11:00 CET . A total of 34 077 066 shares, representing approx. 58,73% of the share capital was represented at the Annual General Meeting. All proposed resolutions were resolved. The Board inHydrogenPro AS now comprises the following persons: -Ellen Merete Hanetho , Chair of the Board -Richard Espeseth -Jarle Tautra -Kermit Jeffrey Nash -Jarle Dragvik -Donna Rennemo Please find enclosed minutes, incl. appendix. For more information, please contact:Elling Nygaard , CEO, +47 908 44 194, elling@hydrogen-pro.comMartin T. Holtet , CFO, +47 92 24 49 02, martin@hydrogen-pro.com About HydrogenPro: HydrogenPro designs and supplies customized hydrogen plants in cooperation with global partners and suppliers, all ISO 9001, ISO 45001 and ISO 14001 certified. The Company was founded in 2013 by individuals with background from the electrolysis industry which was established in Telemark,Norway byNorsk Hydro in 1927. We are an experienced engineering team of leading industry experts, drawing upon unparalleled experience and expertise in the hydrogen and renewable energy industry. Our core product is the alkaline high-pressure electrolyser. With the new electrode technology, we are able to increase the efficiency of each unit by 14% to reach 93% of the theoretical maximum. This is a significant step forward as the cost of electric power, depending on market prices, amounts to 70-90% of the cost of producing hydrogen, the value of such increased efficiency equals approximately the investment cost for the entire plant in a Total Cost of Operation perspective. The Company is targeting a production cost for green hydrogen ofUSD 1.2 per kg in 2022. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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