Drammen, Norway, 4 December 2023 - Hyon AS (HYON) ("Company") announces that the previously announced sales process (27 October 2023) is progressing well. However, it is expected that the timeline will stretch into Q1 2024.

To manage this process and timeline, we are glad to announce that Harald Bjørn Hansen is appointed interim Chief Executive Officer with effect from 4 December 2023.

Mr. Hansen, who is currently the Company's Chief Operational Officer, replaces Jørn Lindtvedt who has decided to leave his position with Hyon.

Mr. Hansen joined Hyon as Chief Operational Officer in July 2021 and ensures the operational experience and insight into the business and assets of Hyon. Hansen is initially engaged on a term until the end of February 2023, and the board will assess any extension or search for a permanent CEO as applicable.

Otto Søberg, Chairman of the Board, commented: "The Board is pleased to appoint Harald Bjørn Hansen as Hyon's interim CEO. Coming from the position as COO, Harald brings key knowledge and continuity to the company's leadership. On behalf of the Board, I would like to thank Jørn for all his efforts and wish him well in his future endeavours."

For further inquiries, please contact: Otto Søberg, Chairman of the Board (Otto.Soeberg@outlook.com. or Harald Bjørn Hansen,(harald.hansen@hyon.energy)

Forward-looking statements

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.

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.

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