Oslo, Norway, 3 December 2024: The Board of Directors of Hexagon Composites (OSE: HEX.OL) is pleased to announce the appointment of Dr. Philipp Schramm as Chief Executive Officer, effective 7 January 2025. Schramm will succeed Jon Erik Engeset, who on 16 April 2024 announced his decision to step down.

Philipp is an automotive industry executive, with more than 15 years of global experience in the automotive supplier industry. He recently served as the CEO and CFO of Brose, one of the world's largest family-owned automotive parts suppliers, with approximately 32,000 employees across 24 countries and annual revenues of around EUR 8 billion. Since joining Brose in 2020 the company has grown by about 30%. Prior to his role at Brose, Philipp held several senior positions at Webasto, another leading automotive supplier. Schramm's career started with PricewaterhouseCoopers with a focus on audit, M&A, restructuring and transaction services.

His customer-focused approach and deep sector knowledge have driven significant growth and value creation in his previous positions where he has successfully identified new markets, geographies, and business opportunities in dynamic and fast changing environments.

"We are thrilled to welcome Philipp to Hexagon. His phenomenal career speaks for itself. Philipp brings a broad industry experience, a proven track record of driving success as well as a value and people focused mindset," said Knut Flakk, Chair of the Board of Hexagon Composites. "Philipp has worked in and understands all of Hexagon's major markets. Our board believes he will be a transformative leader for our company and our industry."

"I am honored to join Hexagon, a company passionately committed to transforming energy solutions. The broad portfolio of technologies of Hexagon and its 38% stake in Hexagon Purus, which includes technologies for Renewable Natural Gas, Hydrogen and Battery Electric Solutions enable cost effective and environmentally friendly alternatives for the transportation and gas distribution industries. Throughout my career, I've been driven to unlock the power of people to effect change. As we face today's challenges, it is crucial to utilize all available energy options. I am eager to collaborate with Hexagon's leadership, employees, associates and partners to unlock Hexagon's full potential," said Philipp Schramm.

Philipp holds a Ph.D. (business doctorate) and a Diploma in Business Administration from the Katholische Universitat Eichstatt-Ingolstadt, Germany, as well as the equivalent of an executive MBA from Harvard Business School.

For more information:

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

Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@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 www.hexagongroup.com and follow @HexagonASA on X and LinkedIn.