FIRST HYDROGEN ECOSYSTEM TRIAL LEADING THE WAY FOR FLEET DECARBONIZATION

February 20, 2024

Vancouver, B.C., February 20, 2024 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) is partnering with Wales &  West Utilities (WWU), Protium Green Solutions (Protium), and Hyppo Hydrogen Solutions (Hyppo) to build  a functional ecosystem, using a redeployable refueller and delivered green hydrogen, to provide the flexibility  and speed during the current vehicle trial. This “ready to go” resource allows First Hydrogen’s hydrogen 

powered-fuel-cell vehicle (FCEV) to deliver normal operations, a crucial step in the rollout of FCEVs in future. In addition to exploring the FCEV’s suitability for WWU’s requirements, the trial also aims to provide a  blueprint that could be replicated in other locations, or to transition trials to full adoption. 

Currently, one of the main barriers to the adoption of hydrogen is the availability of both hydrogen itself and  refuelling infrastructure in suitable locations. This trial uses hydrogen produced at Protium’s Pioneer 1  facility, one of the first hydrogen production facilities in the UK, and Hyppo’s Fuel Cell Systems HyQube  redeployable refueller infrastructure. This provides the flexibility and rapid deployment to bring trials online  quickly. 

“We believe that implementing a rapid trial approach to scaled adoption offers the best approach for fleet  operators to decarbonise with hydrogen,” comments Protium’s Chief Operating Officer Jon Constable.  “Working in partnership to create a local ecosystem reduces risk and lays the foundation for a robust value  chain.” 

“Hyppo is helping build a hydrogen ecosystem in the Swansea Bay City region and is already working with  partners such as Bay Studios, Swansea University, University of South Wales, Protium and Fuel Cell  Systems,” adds Hyppo Hydrogen Solutions CEO Chris Foxall. “It’s great to be able to offer out our service  and capabilities to forward thinking companies like Wales & West Utilities and First Hydrogen which will  accelerate the hydrogen economy in the area”. 

According to Skyquest’s latest research report, the global Hydrogen Fuel Cell Vehicle market size is expected  to reach USD $132.63 billion by 2031 and exhibit a CAGR of 68.52% in the forecast period (2024−2031).  The government incentives, environmental regulations, rising demand for clean energy, increasing awareness  of climate change, advancements in hydrogen fuel cell technology, expanding hydrogen refueling  infrastructure, reducing greenhouse gas emissions, improving energy efficiency, automakers’ focus on  sustainability, and global efforts to transition to clean transportation is fueling the market’s growth. 

Steve Gill, Executive Director Automotive at First Hydrogen, says: “This trial shows fleet operators that  hydrogen is a viable zero emission solution for them, even if they don’t have access to fixed refuelling  infrastructure. Working with partners, we can offer fleet operators a full hydrogen-as-a-service solution. In  South Wales the solution is a hydrogen vehicle ecosystem – we have provided a vehicle for Wales & West  Utilities to use, it is fuelled by Protium’s green hydrogen, which is delivered through Hyppo Hydrogen  Solutions’ refuelling technology.”  

The initiative delivers more than deployment of technology; it is also a strategy to build public confidence in  hydrogen as a safe and valuable regional asset. With the Welsh Government’s proactive stance on hydrogen  in decarbonisation, this trial highlights Wales’s leadership in the UK’s hydrogen adoption efforts.

“We’re eagerly awaiting the data and learnings from the trial, particularly as it takes place during WWU’s  most operationally challenging period of the year,” comments Stephen Offley, Transport Manager at Wales  & West Utilities. “This information will be invaluable in refining the deployment and use of hydrogen in fleet  operations.” 

About First Hydrogen Corp. (FirstHydrogen.com) 

First Hydrogen Corp. is a Vancouver, Montreal and London UK-based company focused on zero-emission  vehicles, green hydrogen production and distribution. The Company has designed and built hydrogen-fuel cell-powered light commercial vehicles (“FCEV”) in partnership with AVL Powertrain and Ballard Power  Systems Inc. The FCEV has a range of 630+ kilometres. These vehicles are being trialled with fleet operators  in the United Kingdom. First Hydrogen is also developing a 35MW green hydrogen production facility and  vehicle assembly factory in Shawinigan, Quebec. 

On behalf of the Board of Directors of  

FIRST HYDROGEN CORP. 

“Balraj Mann”  

Chairman & Group CEO 

Contact: 

Balraj Mann  

First Hydrogen Corp. 

604-601-2018 

investors@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; and conflicts of interest. 

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

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