2,495,425 Ordinary Shares of Green Hydrogen Systems A/S are subject to a Lock-Up Agreement Ending on 17-JUN-2022. These Ordinary Shares will be under lockup for 365 days starting from 17-JUN-2021 to 17-JUN-2022.

Details:
The Principal Shareholder, APMHI and Norlys Holding have agreed with the Managers that they will not, except as set forth below, for a period starting on the date hereof and until (a) 180 days after Admission, without the prior written consent of the Managers, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of (or publicly announce such action), directly or indirectly, any of their Lock-Up Shares (the total number of Lock-Up Shares held by the Principal Shareholder, Norlys Holding and APMHI being 40,633,506 Shares) held as of Admission (excluding any Offer Shares subscribed for in connection with the Offering), or any securities convertible into or exercisable or exchangeable for Lock-Up Shares.

In addition, the members of the Board of Directors, Executive Management and Key Employees who hold Shares in the Company have agreed with the Company that, for a period of 360 days from the date of Admission, in respect of the Shares owned as of Admission, they will be subject to substantially the same restrictions as those of the Principal Shareholder, APMHI and Norlys Holding as set forth above. The Lock-Up Shares held by members of the Board of Directors, Executive Management and Key Employees comprise a total of 2,495,425 Shares.