Publication of prospectus and commencement of the subscription period

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN CANADA,
JAPAN, AUSTRALIA OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES
NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

The Financial Supervisory Authority of Norway (Nw: Finanstilsynet) has on 29
November 2022 approved the prospectus (the "Prospectus") of Hynion AS ("Hynion"
or the "Company") in connection to the partially underwritten rights issue (the
"Rights Issue") of 55,841,000 transferable subscription rights (the
"Subscription Rights"), whereby two Subscription Rights gives the right to
subscribe for one unit ("Unit") consisting of (i) three new shares in the
Company, each with a nominal value of NOK 0.005 (the "New Shares"), at a
subscription price of NOK 0.70 per New Share, i.e. NOK 2.10 for all three shares
(the "Subscription Price"), and (ii) a warrant (the "Warrant") which gives the
right to subscribe for one share in the Company at a subscription price of NOK
0.75 in the period commencing on 1 May 2023 and ending on 12 May 2023.

Availability of the prospectus:

Subject to applicable local securities laws, the prospectus for the Rights Issue
will be available at https://www.hynion.com/rights-issue-2022 from today, 30
November 2022.

Hard copies of the Prospectus may be obtained free of charge from the same date
by contacting the Company, as set out in the Prospectus.

Eligibility:
Holders of the Company's shares as of 15 November 2022 (the "Existing
Shareholders" and the "Existing Shares", respectively) as registered with the
Norwegian Central Securities Depository (the "VPS") as of 17 November 2022 (the
"Record Date") will be granted Subscription Rights in the Rights Issue that,
subject to applicable law, provide preferential rights to subscribe for, and be
allocated, Units at the Subscription Price. Each Existing Shareholder will be
granted one Subscription Right for each Existing Share registered as held by
such Existing Shareholder as of the Record Date. The Subscription Rights will be
registered on each Existing Shareholders' VPS account.

Allocation of Subscription Rights:
Two Subscriptions Rights provides preferential right to subscribe for, and be
allocated, one Unit at the Subscription Price (subject to applicable law in the
relevant jurisdiction of an Existing Shareholder). Existing Shareholders will be
allocated one (1) Subscription Right for every one (i) existing share registered
as held by such existing shareholder as of the Record Date.

For a description of restrictions in respect of allocation, acquisition and/or
exercise of Subscription Rights, reference is made to Section 14 "Selling and
transfer restrictions" and Section 8.8 "Subscription Rights" in the Prospectus.

Subscription Period:
The subscription period in the Rights Issue will commence at 09:00 hours (CET)
on 30 November 2022 and expire at 16:30 hours (CET) on 14 December 2022.

Trading in Subscription Rights:
The Subscription Rights will be listed and tradable on the Oslo Stock Exchange
under the ticker "HYNT" from 09:00 hours (CET) on 30 November 2022 to 16:30
hours (CET) on 8 December 2022 on Euronext Growth Oslo.

Subscription Rights that are not used to subscribe for Units or sold before the
expiry of the Subscription Period will have no value and will lapse without
compensation to the holder.

The Subscription Rights may have economic value if the Company's shares trade
above the Subscription Price during the Subscription Period. The Rights Issue
will result in an immediate dilution of approximately 60% for Existing
Shareholders who do not participate in the Rights Issue and an additional 16.7%
dilution if all Warrants are exercised.

Subscription Price:

NOK 2.10 per Unit.

Pre-commitment and underwriting:

Shares not subscribed for by, or allocated to, other subscribers in the Rights
Issue by the end of the subscription period, limited to a maximum of 50,256,900
shares, shall be subscribed for by John Fällström, Formue Nord Markedsneutral
A/S, Pär Nordström, Lusam Invest AB, Erik Penser Bank AB, Bernhard von der
Osten-Sacken, Alexander Fällström, Gryningskust Holding AB, Maida Vale Capital
AB, Malcolm Lindblom, Zafer Kara, Nils Berg, VOJ Holding AB, Accrelium AB and
Andreas Bonnier (the "Underwriters"), in accordance with an underwriting
agreement entered into 3 November 2022, and allocated to the Underwriters
pro-rata in accordance with their underwriting commitments, as follows:

o	John Fällström, NOK 8.0 million, equivalent to 11,428,571 shares
o	Formue Nord Markedsneutral A/S, NOK 5.5 million, equivalent to 7,857,143
shares
o	Pär Nordström, NOK 3.5 million, equivalent to 5,000,000 shares
o	Lusam Invest AB, NOK 3.0 million, equivalent to 4,285,714 shares
o	Bernhard von der Osten-Sacken, NOK 2.5 million, equivalent to 3,571,429 shares
o	Alexander Fällström, NOK 2.0 million, equivalent to 2,857,143 shares
o	Gryningskust Holding AB, NOK 2.0 million, equivalent to 2,857,143 shares
o	Erik Penser Bank AB, NOK 1,274,830, equivalent to 1,821,186 shares
o	Maida Vale Capital AB, NOK 1.0 million, equivalent to 1,428,571 shares
o	Malcolm Lindblom, NOK 1.0 million, equivalent to 1,428,571 shares
o	Zafer Kara, NOK 1.0 million, equivalent to 1,428,571 shares
o	Nils Berg, NOK 1.0 million, equivalent to 1,428,571 shares 
o	VOJ Holding AB, NOK 0.5 million, equivalent to 714,286 shares
o	Accrelium AB, NOK 0.5 million, equivalent to 714,286 shares
o	Andreas Bonnier, NOK 0.5 million, equivalent to 714,286 shares

The Underwriters have a pro-rata liability and each Underwriters liability is
limited to each individual Guarantor's guarantee amount. The Underwriters are
entitled to an underwriting fee equal to 12 percent of their respective
underwriting obligation which is to be settled, at the Underwriters' election,
in cash or shares issued at the same price as in the Rights Issue.

Moreover, the following existing shareholders and members of the Company's
management and board of directors intends to subscribe for Units in the Rights
Issue with the indicated amounts: 
o	Kurt Dahlberg: NOK 1,000,000 
o	Lars Amnell: NOK 200,000 
o	Pål Midtbøen: NOK 100,000
o	Slavica Djuric: NOK 200,000
o	Bertil Rydqvist: NOK 100,000
o	Anders Dahlberg: NOK 75,000
o	Olof Dahlberg: NOK 20,000
o	Pär Nordström: NOK 210,000

For more information regarding the Underwriters and the payment guarantee
agreement and such conditions, reference is made to Section 8.21 "The
Underwriting" in the Prospectus.

Subscription procedure:
Subscription of Offer Shares must be made by submitting a correctly completed
subscription form, and submit it to the subscription office as set out in the
Prospectus within 16:30 hours (CET) on 14 December 2022 and may, for subscribers
who are Norwegian residents with a Norwegian personal identification number, be
made through the VPS online subscription system within the same time.

Oversubscription with Subscription Rights will be permitted, however, there can
be no assurance that Units will be allocated for such subscriptions. The
Underwriters will have a preferential right to subscribe for and be allocated
Units that have not been subscribed for based on allocated and acquired
subscription rights. Other than subscriptions from the Underwriters and
employees of the Hynion group, subscription in the Rights Issue without
Subscription Rights is not permitted.

Financial Intermediaries:
If an Existing Shareholder holds shares in the Company registered through a
financial intermediary as of expiry of the Record Date, the financial
intermediary will customarily give the Existing Shareholder details of the
aggregate number of the Subscription Rights to which they will be entitled. The
relevant financial intermediary will customarily supply each Existing
Shareholder with this information in accordance with its usual customer
relations procedures. Existing Shareholders holding their shares in the Company
through a financial intermediary should contact the financial intermediary if
they have received no information with respect to the Rights Issue.

Listing and Commencement of trading of the New Shares:
Subject to timely payment of the entire subscription amount in the Rights Issue,
it is expected that the New Shares will be issued and delivered to the VPS
accounts of the subscribers to whom they are allocated on or about 22 December
2022. The New Shares allocated in the Rights Issue are expected to be traded on
the Oslo Stock Exchange from and including 22 December 2022.

* * *

DNB Bank ASA, Issuer Services, is acting as Receiving Agent in the Rights Issue.

Advokatfirmaet Schjødt AS is acting as the Company's legal adviser in connection
with the Rights Issue.

For further details of the terms of the Rights Issue, please refer to the
Prospectus.

For further information, please contact:

CEO Ulf Hafseld, phone: [phone]

About Hynion:

Hynion builds and operates hydrogen stations in and around the largest cities in
Scandinavia. The company builds on experiences from the last 20 years, including
world-leading projects such as HyNor, CUTE, Utsira wind/hydrogen, CEP Berlin,
SHHP, NewBusFuel and H2ME, to name a few. The company's management also has
extensive experience in establishing and operating start-up companies and years
of experience in the automotive industry. For more information, go to
https://www.hynion.com.

IMPORTANT INFORMATION

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. The
information contained in this announcement is for informational purposes only
and does not purport to be full or complete. Copies of this announcement are not
being made and may not be distributed or sent into any jurisdiction in which
such distribution would be unlawful or would require registration or other
measures. Any offering of the securities referred to in this announcement will
be made by means of a prospectus approved by the Financial Supervisory Authority
of Norway and published by the Company. Investors should not subscribe for any
securities referred to in this announcement except on the basis of information
contained in the aforementioned prospectus.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A under
the Securities Act.

This announcement has been prepared on the basis that any offer of securities in
any Member State of the European Economic Area, other than Norway, which has
implemented the Prospectus Regulation (EU) (2017/1129, as amended, the
"Prospectus Regulation") (each, a "Relevant Member State") will be made pursuant
to an exemption under the Prospectus Regulation, as implemented in that Relevant
Member State, from the requirement to publish a prospectus for offers of
securities. Accordingly any person making or intending to make any offer in that
Relevant Member State of securities which are the subject of the offering
contemplated in this announcement, may only do so in circumstances in which no
obligation arises for the Company or the Manager to publish a prospectus
pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus
pursuant to Article 16 of the Prospectus Regulation, in each case, in relation
to such offer. Neither the Company nor the Manager have authorised, nor do they
authorise, the making of any offer of the securities through any financial
intermediary, other than offers made by the Manager which constitute the final
placement of the securities contemplated in this announcement. Neither the
Company nor the Manager have authorised, nor do they authorise, the making of
any offer of securities in circumstances in which an obligation arises for the
Company or the Manager to publish or supplement a prospectus for such offer.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict, and are beyond their control. Actual
events may differ significantly from any anticipated development due to a number
of factors, including without limitation, changes in public sector investment
levels, changes in the general economic, political and market conditions in the
markets in which the Company operates, the Company's ability to attract, retain
and motivate qualified personnel, changes in the Company's ability to engage in
commercially acceptable acquisitions and strategic investments, and changes in
laws and regulation and the potential impact of legal proceedings and actions.
Such risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

Neither the Manager nor any of its affiliates makes any representation as to the
accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the Manager
nor its affiliates accept any liability arising from the use of this
announcement.

In connection with the Rights Issue, the Manager and any of its affiliates,
acting as investors for their own accounts, may subscribe for or purchase shares
and in that capacity may retain, purchase, sell, offer to sell or otherwise deal
for their own accounts in such shares and other securities of the Company or
related investments in connection with the Rights Issue or otherwise.
Accordingly, references in any subscription materials to the shares being
issued, offered, subscribed, acquired, placed or otherwise dealt in should be
read as including any issue or offer to, or subscription, acquisition, placing
or dealing by, the Manager and any of its affiliates acting as investors for
their own accounts. The Manager do not intend to disclose the extent of any such
investment or transactions otherwise than in accordance with any legal or
regulatory obligations to do so.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

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