Nel ASA

Legal Proceedings Report • Feb 7, 2024

Nel ASA: Nel will oppose claims made by Iwatani Corporation of America regarding fueling equipment and services

Nel ASA: Nel will oppose claims made by Iwatani Corporation of America regarding fueling equipment and services

(February 7, 2024 - Oslo, Norway) Nel ASA (Nel, OSE:NEL) has today been made

aware that Iwatani Corporation of America has filed a lawsuit with claims for

damages in an unspecified amount towards Nel and certain of its subsidiaries in

connection with certain agreements for delivery of fueling equipment and

services between Nel Hydrogen Inc. and Iwatani Corporation of America.

Nel and its subsidiaries strongly reject the allegations made in the lawsuit by

Iwatani Corporation of America, and will vigorously oppose the allegations and

the lawsuit.

The lawsuit was filed with the United States District Court in the Central

District of California.

ENDS

Contact:

Kjell Christian Bjørnsen, CFO, +47 917 02?097

About Nel ASA | www.nelhydrogen.com

Nel has a history tracing back to 1927 and is today a leading pure play hydrogen

technology company with a global presence. The company specializes in

electrolyser technology for production of renewable hydrogen, and hydrogen

fueling equipment for road-going vehicles. Nel's product offerings are key

enablers for a green hydrogen economy, making it possible to decarbonize various

industries such as transportation, refining, steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of

the Norwegian Securities Trading Act. This information was issued as inside

information pursuant to the EU Market Abuse Regulation, and was published by

Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time

provided.