14 August, 2025: Hexagon Composites (OSE:HEX.OL), a global leader in clean energy solutions, and Mitsui & Co., Ltd., headquartered in Tokyo and active world-wide in a wide range of sectors including clean energy & mobility, have extended their Strategic Alliance Agreement until the earlier of 20 March 2030 and the date on which Mitsui's shareholding in the Company falls below certain shareholding ratio.

The agreement was memorialized by Philipp Schramm, CEO of Hexagon Composites and Katsuto Kawahara, General Manager of Functional Materials Division, Performance Materials Business Unit of Mitsui, on 12 August 2025 in Oslo, Norway.

Mitsui and Hexagon Composites have developed a close partnership over decades centered around the drive to accelerate and develop composite technology. The original strategic alliance agreement was signed in 2016, and Mitsui has been a major shareholder in Hexagon Composites since then.

"Mitsui's support as a strategic partner and shareholder has been essential to the development of Hexagon", says Philipp Schramm, CEO Hexagon Composites. "Over the past decade, Mitsui's industrial expertise and global reach, have helped us set a benchmark in the industry and accelerate the adoption of alternative fuels. We look forward to continuing to leverage our synergies to drive the energy transition forward."

"We are pleased to have supported the growth of Hexagon Composites over the past decade. We believe in the long-term growth of the Group and with the renewed Strategic Alliance Agreement, we remain a strategic partner to Hexagon Composites," says Katsuto Kawahara of Mitsui.

Currently, Mitsui holds 33,229,096 shares in Hexagon Composites, which corresponds to 15.8% of the total shares.

For more information:

Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites
Telephone: +47 988 92 161 | berit-cathrin.hoyvik@hexagongroup.com

David Bandele, CFO, Hexagon Composites
Telephone: +47 920 91 483 | david.bandele@hexagongroup.com

About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility and industrial applications. Learn more at hexagongroup.com and follow @HexagonASA on LinkedIn.

About MITSUI & CO., LTD.
Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries.

The company identifies, develops, and grows its businesses in partnership with a global network of trusted partners including world leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders.

Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials, and providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition.

Visit https://www.mitsui.com/jp/en/ for more information.