Sandnes, Norway 17 January 2024 - Horisont Energi AS (EURONEXT: HRGI), adjusted
the activity level to a dynamic business environment, adopted a sharper cost
focus, organized around a clean ammonia team and a CCS team supported by
commercial and technical teams to optimize resource use at the beginning of the
second half of 2023. 

Over the last six months Horisont Energi has progressed its business activities
and its main projects. For this, at the end of 2023, the necessary decisions
were taken to adapt a company group structure by adding respective business line
subsidiaries. Now, further actions must be taken in the pursuit of a sustainable
future for the company, particularly with respect to commercial agreements and
financing. 

These various planned activities will require a substantial part of only one
CEO's time and efforts. Building on the experiences made over the last six
months, and considering how Horisont Energi may best deliver, the board has
decided to strengthen the governance of the company by implementing a dual CEO
structure. 

For this purpose, the board will call an extraordinary general meeting to update
the articles of association to allow for the appointment of two CO-CEOs. 

Subject to approval by this general meeting and the pursuing formal appointment
by the board, it is planned that Bjørgulf Haukelidsæter Eidesen will continue as
a CO-CEO, whereas the current CFO, Leiv Kallestad, will also take on the role as
CO-CEO. 

Haukelidsæter Eidesen will focus on strengthening existing and building new
external relationships, whereas Kallestad will focus on enhancing project
delivery capabilities and continue with responsibility for financing. 

The board acknowledges all the work that has been done in 2023 and the results
that have been achieved and is convinced that strengthening the governance will
enable and secure key deliveries while continuing focus on efficiency of
operations and cost control. 

For information please contact: 
Bjørgulf Haukelidsæter Eidesen, CEO 
+47 990 36 892 
bhe@horisontenergi.com 

Leiv Kallestad, CFO 
+47 958 95 661 
leiv.kallestad@horisontenergi.com  

About Horisont Energi 
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that will
provide clean energy and carbon transport and storage services. The company will
transform gas into cost-leading ammonia and hydrogen and offer CO2
transportation and storage solutions using proprietary technology, paving the
way for a low carbon economy. The company was founded in 2019 and is
headquartered in Sandnes, Norway. www.horisontenergi.no

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