Oslo, 13 June 2023: Reference is made to the stock exchange announcement
published by HydrogenPro ASA ("HYPRO" or the "Company") on 13 June 2023
regarding a PDMR notification in relation to a share lending agreement pursuant
to which TM Holding AS and Richard Espeseth has lent a total of 5,000,000 shares
in the Company to Pareto Securities AS, Bryan, Garnier & Co Limited and Bryan
Garnier Securities, in order to facilitate swift settlement of the private
placement announced by the Company on 12 June 2023.

TM Holding AS currently holds 9,635,182 shares in the Company, corresponding to
16.60 % of the total number of issued shares in the Company based on the current
registered share capital. In addition, TM Holding AS holds 163,005 options to
subscribe for one share each in the Company. When combining the shares and
options held by TM Holding AS, this represents a total of 9,798,187 shares and
rights to shares in the Company, representing a total of 16.89 % of the total
number of issued shares in the Company based on the current registered share
capital.

During the temporary period in which the share loan is outstanding, the total
number of shares held by TM Holding AS will be reduced to 7,135,182 shares,
equal to 12,30 % of the total number of issued shares in the Company based on
the current registered share capital. When combining the shares and options held
by TM Holding AS, this represents a total of 7,298,187 shares and rights to
shares in the Company, representing a total of 12,58 % of the total number of
issued shares in the Company based on the current registered share capital,
dropping below the 15 % disclosure threshold.

Upon registration of the share capital increase related to the Private
Placement, the borrowed shares will be redelivered to TM Holding AS. Any
relevant disclosures concerning changes in TM Holding AS' shareholding will be
published in a separate stock exchange notice.

This information is subject to the disclosure requirements pursuant to Section 5
-12, cf. Section 4-2 of the Norwegian Securities Trading Act.

For additional information, please contact:
Martin Thanem Holtet, Chief Financial Officer
Email: martin@hydrogen-pro.com
Phone: +47 922 44 902

Ida Eilertsen Nygård, Head of Investor Relations and ESG
Email: ir@hydrogen-pro.com
Phone: +47 986 11 952

About HydrogenPro ASA
HydrogenPro is a technology company and an OEM for high-pressure alkaline
electrolysers and supplies large-scale green hydrogen technology & systems. The
Company was founded in 2013 by individuals with background from the electrolysis
industry which was established in Telemark, Norway by Norsk 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.