Fusion Fuel Green (HTOO)

[Golden Cross]

HCCH has entered into a business combination agreement with Fusion Fuel:

• Pro forma firm value of $96.7 million
• HL shareholders will retain 77% of the outstanding shares of the successor company after closing the transaction1
• Current Fusion Fuel shareholders will roll 100% of their holdings
• Fusion Fuel owners to receive ordinary shares and warrants with an agreed value of €22.8 million2
• Fusion Fuel owners can earn a contingent consideration (capped at €12.2 million) by entering into Hydrogen Purchase
Agreements (HPAs) with qualified counterparties by or before June 30, 2022
• Closing is conditioned on HL having net cash proceeds at closing in excess of €22.8 million
• Primary uses of proceeds: capex for the production of hydrogen to be sold under long-term HPAs, expand production
capacity of Fusion Fuel’s proprietary technology, and new market development
• The transaction is expected to be consummated during 3rd Quarter 2020