Vancouver, B.C., March 10, 2023 – Vancouver, British Columbia – First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) welcomed Ballard Power Systems (“Ballard”) to test drive its first-generation zero emission light commercial vehicle (“LCV”) at AVL Powertrain’s engineering facility in Basildon, UK. Ballard partnered with First Hydrogen to develop these first-of-their-kind hydrogen powered LCVs. The two Generation I vehicles use a combination of Ballard’s latest LCS fuel cell stack and First Hydrogen’s proprietary technology.

The First Hydrogen vehicles will be deployed with major fleet operators that have already enrolled to drive the hydrogen zero-emission LCV’s. One of the UK’s largest fleet operators will start the test drive process imminently. A total of 15 major fleet operators have registered to participate as part of the UK Aggregated Hydrogen Freight Consortium (“AHFC”). The trials give commercial operators from a range of sectors – including grocery, express delivery, utilities, and roadside assistance – the opportunity to test hydrogenpowered-fuel-cell electric vehicles alongside their existing fleets and compare different technologies.

The Generation I vehicles act as proof of concept and enable fleet operators, refuelling services and prospective customers to test fuel cell vehicles in real-world conditions. The LCVs are currently undergoing vehicle evaluation and mileage accumulation, which will support optimised vehicle efficiency. The data collected enables First Hydrogen to accurately calculate fuel consumption and vehicle range under different driving conditions and inform future vehicle development.

Importantly, the findings enable the Company to provide total cost of ownership (“TCO”) data to prospective customers. Ballard’s LCS fuel cell stack technology was chosen for its maximum performance and lifetime durability, which helps to further optimise TCO and make the transition to zero emission vehicles financially competitive. To support the move to net zero, First Hydrogen is also developing an end-to-end ‘Hydrogen-asa-Service’ solution, providing fleets with green hydrogen fuel, fleet aftercare and zero emission vehicles.

The global LCV market is projected to reach USD 751.86 billion by 2030, increasing at a compound annual growth rate of 5.1% during the forecast period (2022-2030). To meet the market’s need to achieve emissions targets and to capitalise on improving zero emission infrastructure, First Hydrogen is leading the change in the LCV sector with functional, clean fleet solutions.

David Mucciacciaro, CCO at Ballard Power Systems commented:

“We were pleased to experience First Hydrogen’s LCV first-hand and delighted to see how our leading fuel cell technology performs on the road in a light-duty application. Our plans to expand Ballard’s fuel cell production will enable the scale-up of the fuel cell market as we see continued investment and customer interest.”

Robert Campbell, CEO of First Hydrogen Energy, added:

“Our close working relationship with Ballard has played a key role in developing First Hydrogen’s first generation of zero-emission LCVs. This was Ballard’s first visit to see the vans and we were keen for their team to see the vehicles in action before they enter our key fleet trial programme in the coming weeks.”

About First Hydrogen Corp. (FirstHydrogen.com)

First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company is designing and building hydrogen-fuel-cell-powered light commercial demonstrator vehicles (“LCV”) under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. At the same time, the Company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero-emission vehicles. First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. As well, the Company is pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.

On behalf of the Board of Directors of

FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@firsthydrogen.com

Cautionary Note Regarding Forward-Looking Statements This news release contains information or statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management’s assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management’s experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen’s products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Vancouver, B.C., March 3, 2023 – Vancouver, British Columbia – First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) reveals new images outlining the vision for its Generation II concept vehicle, which will be available with either fuel cell electric or battery electric drive trains. The latest sketches show the design process that the Company is undertaking with global mobility experts EDAG Group.

The images show the vehicle’s overall form in greater detail and indicate some of the van’s technical assets. As well as the vertical taillights and branded daytime running lights, which were revealed earlier this year, the new illustrations exhibit an aerodynamic fuselage. They also show muscular and dynamic fenders and a large front grill, which is both functional and stylish. Incorporating First Hydrogen branding, the grill provides the necessary ventilation for the vehicle’s front located fuel cell.

Vehicle sketches

The Generation II concepts are being developed while First Hydrogen trials its Generation I fuel cell electric vehicles (FCEV). Launched last year, the Generation I vehicles are currently undergoing mileage accumulation and evaluation before entering trials with major fleet operators in the UK. The road trials for Generation I are managed in conjunction with the UK Aggregated Hydrogen Freight Consortium (AHFC). Members cover a variety of sectors including grocery, roadside assistance, utilities, construction and express delivery and trial participants will use First Hydrogen’s demonstrator vehicles alongside their existing fleets to evaluate the benefits of different vehicle technologies. Data and feedback gained during these trials will influence the design and engineering of the Company’s future vehicles to ensure designs meet customer needs.

The global light commercial vehicle market is projected to reach USD 751.86 billion by 2030, increasing at a compound annual growth rate of 5.1% during the forecast period (2022-2030). Further growth is expected as industries strive to meet zero emission targets and governments incentivise switching to zero emission mobility and invest in better infrastructure. First Hydrogen is targeting the commercial van market and light commercial vehicle sector to support fleet operators to move away from fossil fuels and invest in zero emission transport.

Steve Gill, CEO of Automotive for First Hydrogen, says:

“We are delighted to present a first look at the new concept vehicle and are proud of its clean, functional, and modern design. The aerodynamic design and overall proportions have been shaped to consider operations on highways and in urban environments. We have taken a particular focus on the lighting, ensuring high visibility for drivers and other road users, – this is especially important for use by delivery, utilities, and roadside assistance companies – but also make the vehicles instantly recognisable as First Hydrogen.”

Bernat Costa, Design Director at EDAG Spain, comments:

“We have taken great care to reflect the modern and clean energy values First Hydrogen represents in the vehicle design. The pure and minimalist design meets functional needs and accommodates the technical requirements of hydrogen propulsion. We have also created a design suited to modular builds, providing operational flexibility through a range of sizes and potential bespoke elements.”

About First Hydrogen Corp.

(FirstHydrogen.com) First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company is designing and building hydrogen-fuel-cell-powered light commercial demonstrator vehicles (“LCV”) under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. At the same time, the Company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero-emission vehicles. First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. As well, the Company is pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.

About EDAG Group (EDAG.com)

EDAG Group is the world’s largest independent engineering service provider to the global mobility industry. We regard mobility as a fully integrated ecosystem, and offer our customers technological solutions for more sustainable, emission-free and intelligently networked mobility. With a global network of some 60 branches, EDAG Group provides engineering services in the Vehicle Engineering, Electrics/Electronics and Production Solutions segments.

With our interdisciplinary expertise in the fields of software and digitalization, we possess the key skills to help actively shape the dynamic transformation process the mobility industry is currently undergoing. Digital features, autonomous driving, artificial intelligence, alternative powertrains, new mobility concepts and the vision of a networked smart city have become an integral part of our portfolio. Embedded in EDAG’s own 360° degree approach to the development of complete vehicles and production facilities, we are a competent partner for sustainable mobility projects. It is in the DNA of the company to actively shape the future of mobility and transfer new technologies and concepts into series production. Today, EDAG is one of the TOP 20 IT service providers in the German mobility sector.

Our customers include leading international OEMs, tier 1 suppliers and startup companies from the automotive and non-automotive industries, all of whom we serve globally with our workforce of approximately 8,000 experts in 360-degree engineering.

In 2021, EDAG generated sales of €687 million and at December 31, 2021, EDAG employed a global workforce of 7,880 (including apprentices).

On behalf of the Board of Directors of

FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@firsthydrogen.com

Cautionary Note Regarding Forward-Looking Statements This news release contains information or statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management’s assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management’s experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen’s products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Vancouver, B.C., February 27, 2023 – Vancouver, British Columbia – First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is completing mileage accumulation and vehicle evaluation to optimise the efficiency of its zero-emission light commercial vehicles (LCVs) ahead of the vehicles’ deployment with fleet customers in March 2023. Evaluations are being conducted with powertrain specialists AVL Powertrain, which put the vehicles through a range of real-world duty cycles, including urban, rural and highways routes. Based on the vehicle weight, battery size and powertrain energy consumption, First Hydrogen’s two LCVs have an expected range of 400-600km, depending on the route, on a single refuelling, which takes less than 5 minutes.

Data collected from the two hydrogen-fuel-cell-powered vehicles (FCEV) will allow First Hydrogen to accurately determine fuel consumption and vehicle range in different driving scenarios. It will enable the Company to utilize AI for predicting energy consumption, optimising fuel efficiency and identifying areas for further development. The data will capture the real-world capabilities of First Hydrogen’s future zero-emission vehicles, starting with its Generation II vehicle.

The data allows comparison to simulations made for the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) testing that is part of EU law. A global standard, WLTP is used by buyers and commercial fleet managers to compare vehicles’ energy consumption, emissions, and, for electric vehicles, range calculations. Tests will take place until mid-March and data analysis will follow. Initial figures are expected by mid-March 2023 and will support First Hydrogen engineers to showcase the vehicles’ competitive Total Cost of Ownership (TCO), which is key information for commercial fleet managers investing in new vehicles. The data will also allow potential customers to draw true comparisons between FCEVs, battery electric vehicles and vehicles with internal combustion engines.

The tests will be completed before First Hydrogen deploys its two vans for trials with major fleet operators in the UK as part of a programme with the Aggregated Hydrogen Freight Consortium (AFHC). These operational trials offer companies, including national supermarkets, utilities, roadside assistance, and healthcare providers, the chance to experience zero-emission LCVs alongside their own fleets.

Stephen Pendrey, Chief Engineer for First Hydrogen Automotive, says:

“These tests are an important part of our vehicle development and help us to ensure the vehicle is performing as efficiently as possible and in line with expectations. The data enables us to factor in vehicle weight and payload to calculate the amount of energy used for propulsion. The results provide verifiable data on expected range per kilogram of hydrogen used. This information shows commercial vehicle owners and fleet managers the output they can expect in specific conditions and illustrates the financial benefits of switching to a FCEV.”

About First Hydrogen Corp. (FirstHydrogen.com)

First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company is designing and building hydrogen-fuel-cell-powered light commercial demonstrator vehicles (“LCV”) under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. At the same time, the Company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero-emission vehicles. First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. As well, the – 2 – LEGAL_40377595.1 Company is pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.

On behalf of the Board of Directors of

FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@firsthydrogen.com

Cautionary Note Regarding Forward-Looking Statements This news release contains information or statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management’s assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management’s experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen’s products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Vancouver, B.C., February 21, 2023 – Vancouver, British Columbia – First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is pleased to announce that it has been named as one of the top performers on the TSX Venture Exchange for the 2nd straight year.

The 2023 TSX Venture 50 celebrates the strongest performance on the TSX Venture Exchange (the “TSXV” or “the Exchange”) over the last year. Comprised of 10 companies from each of the five industry sectors, the ranking recognizes the strongest performance on the Exchange based on market capitalization, share price appreciation, and trading volume.

More details on the 2023 TSX Venture 50 and a video highlighting First Hydrogen can be found at: www.tsx.com/Venture50.

“We are pleased to have earned the 2023 TSX Venture 50 ranking as a top performing company in our sector. The Company’s hydrogen-as-a-service model has been a driving force behind our success. We remain dedicated to advancing sustainable technologies and reducing our environmental footprint and look forward to continuing to deliver innovative solutions to our customers and stakeholders.” stated CEO Balraj Mann, “Our hydrogen-fuel-cell-powered light commercial vehicles will be starting trials with various fleet operators in the UK, and we continue to advance our green hydrogen production plans.”

About First Hydrogen Corp.

(FirstHydrogen.com) First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company is designing and building hydrogen-fuel-cell-powered light commercial demonstrator vehicles (“LCV”) under two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. At the same time, the Company has launched its bespoke vehicle design phase which will develop its fleet of proprietary zero-emission vehicles. First Hydrogen is also developing refueling capability working with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. As well, the Company is pursuing opportunities in green hydrogen production and distribution in the UK, EU and North America.

On behalf of the Board of Directors of

FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@firsthydrogen.com

Cautionary Note Regarding Forward-Looking Statements This news release contains information or statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management’s assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management’s experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen’s products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Vancouver, B.C., February 8, 2023 – Vancouver, British Columbia – First Hydrogen Corp. (“FIRST HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is  anticipating the approval of the proposed €250 billion green subsidies announced by European Commission  President Ursula von der Leyen which will enhance the competitiveness of Europe’s net-zero industry and  support the fast transition to climate neutrality. Subsidies would include tax breaks to businesses investing in  net-zero technologies, faster permit issuances for green projects and loosening of aid rules that would allow  EU member states to match the aid offered by a third country for initial investments into sectors relevant to  the net-zero transition.  

First Hydrogen recently expanded its European activities to identify and sign-up fleets for future European  trials of the Company’s light commercial vans (“LCV”). Green hydrogen production and sourcing opportunities will also be identified and developed to support the TEN-T Core and Comprehensive Networks for the broad-based use of zero emission LCVs. The Company’s hydrogen-as-a-service model plans to  provide zero-emission ecosystem solutions that will benefit from the EU’s move to decarbonize.  

Balraj Mann Chairman & CEO of First Hydrogen Corp. said: “The European Union needed to match the  subsidies made by the United States and China. The proposed Green Deal Industrial Plan will provide more  support of manufacturing for net-zero products, such as our light-commercial vehicle and green hydrogen  service thru faster access to funding and simpler regulatory frameworks.” 

Robert Campbell CEO of First Hydrogen Energy said: “The European Green Deal announced in 2019, set the  goal of making Europe the first climate-neutral continent by 2050. The new Green Deal Industrial Plan will  allow the EU to stay competitive with other countries which have green subsidies in place. We anticipate an  overall acceleration of decarbonization initiatives in Europe with this bold plan set forth by the European  Union.” 

The Company is also pleased to announce that it has entered into an amendment agreement (the “Amendment  Agreement”) dated February 2, 2023, to amend the terms of its Engagement Agreement with Canaccord  Genuity Corp. (“CGC”). Under the terms of the Amendment Agreement, the parties have agreed to amend  the exercise price of CGC’s Agent Warrant from $4.50 to the greater of $4.50 or the market price of the  Company’s common shares on the closing date of the Early Warrant Exercise Program. For more information  about the Company’s Engagement Agreement with CGC, please refer to the Company’s news release dated  January 31, 2023. 

About First Hydrogen Corp. (FirstHydrogen.com) 

First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles,  green hydrogen production and distribution and supercritical carbon dioxide extractor systems. The Company  is designing and building hydrogen-fuel-cell-powered light commercial demonstrator vehicles (“LCV”) under  two agreements with AVL Powertrain and Ballard Power Systems Inc. The LCV will have a range of 500+  kilometres. At the same time, the company has launched its bespoke vehicle design phase which will develop  its fleet of proprietary zero-emission vehicles. First Hydrogen is also developing refueling capability working  with FEV Consulting GmbH, the automotive consultancy of FEV Group of Aachen Germany. The Company 

is also pursuing opportunities in green hydrogen production and distribution in the UK, EU and North  America. 

FIRST HYDROGEN CORP.
“Balraj Mann”
Chairman & Chief Executive Officer

Contacts:

North America
Balraj Mann, Chairman & Chief Executive Officer
604-601-2018
investors@firsthydrogen.com

Europe
Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434
Nicholas.Wrigley@firsthydrogen.com

Cautionary Note Regarding Forward-Looking Statements This news release contains information or statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management’s assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management’s experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen’s products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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