Ann: Prefeasibility Identifies Low Cost Hydrogen from Norway, page-5

Martin Carolan, Provaris Managing Director and CEO commented: “Provaris is delighted with the outcomes
of the study which has continued to mature the technical or economic requirements of the project. Compression
has been demonstrated to be a highly flexible solution for variable hydrogen production, storage, and
transportation. The flexibility and added value that compression offers while providing balancing services to the
local grid is complimented with a positive impact on the LCOH of hydrogen delivered to Europe.

Jens Berge, Norwegian Hydrogen’s CEO commented: “We are very pleased that this pre-feasibility study
demonstrates the attractiveness of our joint concept, and that this model will enable us to deliver green hydrogen
to the European market at a most competitive price. Our innovative concept offers a highly scalable solution which
can be applied on several of our sites across the Nordic region.”