HydrogenPro ASA – First half year and second quarter 2026 financial results

Achievements and highlights:

• Commenced production of Gen4 electrodes, delivering higher efficiency and enhanced durability.
• Completed capital raise following May's strategic review launch.
• Shifted to a leaner local team and initiated asset disposals following the landmark LONGi OEM agreement.
• MNOK 300 Near-Term Pipeline: Selected as supplier for two major projects, contract awards awaiting final regulatory clearance and technical review.

Q2 2026 financials (Q1 2026 numbers in brackets):

- Revenues: NOK 15 million (NOK 16 million)

- EBITDA: NOK -16 million (NOK -32 million)

- Net result: NOK -51 million (NOK -41 million)

- Order Backlog: NOK 262 million (NOK 252 million)

- Cash Balance at end of the quarter: NOK 59 million (NOK 56 million)

Jarle Dragvik, CEO of HydrogenPro, comments: “The past quarter marked important operational and strategic milestones for HydrogenPro. The launch of our new Gen4 electrodes represents a significant technological leap forward, delivering enhanced efficiency and durability to our customers. We completed a capital raise, and we continue the strategic review to unlock further shareholder value. Simultaneously, we are optimizing our execution model in China following our milestone OEM agreement with LONGi, transitioning to a leaner operational footprint and disposing of non-core assets. Looking ahead, our near-term pipeline remains robust, with two prospective contracts valued at close to MNOK 300 in total, pending regulatory approval and technical reviews”.

HydrogenPro will host a webcast presentation at 10:00 CET followed by a Q&A session. The presentation will be given by Jarle Dragvik (CEO) and Martin Thanem Holtet (CFO). Questions can be posted online during the presentation.

Link to webcast: https://qcnl.tv/p/51FNwc2bGSERttTgxNJSig