Oslo, 21 June 2023: Reference is made to the stock exchange announcement
published by HydrogenPro ASA ("HYPRO" or the "Company") on 13 June 2023
regarding the successful placement of new shares (the "New Shares") and existing
shares in the Company with total gross proceeds of NOK 126 million, consisting
of a primary offering raising gross proceeds of NOK 120 million and a secondary
sale of shares with gross proceeds of NOK 6 million (the "Private Placement").

The share capital increase related to the issuance of New Shares in the Private
Placement has today been registered with the Norwegian Register of Business
Enterprises.

Following such registration, the share capital of the Company is NOK
1,260,563.42 divided into 63,028,171 shares, each with a par value of NOK 0.02.

This information is subject to the disclosure requirements pursuant to Section 5
-1 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: ida@hydrogen-pro.com
Phone: +47 986 11 952

About HydrogenPro:
HydrogenPro is a technology company and an OEM for high pressure alkaline
electrolyser 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.