Nel ASA

Nel ASA: Annual General Meeting held in Nel ASA

(Oslo, 21 April 2023) The Annual general meeting of Nel ASA was held today. All

proposals, except 9 and 11.1, set out in the notice to the general meeting were

approved. As a result of the remuneration report not receiving sufficient

support at the general meeting the company will take into consideration feedback

from shareholders for the next report. Based on feedback from shareholders,

changes done to the structure of the incentive programs are well received, but

increased visibility on management KPI's needs to be disclosed to document

alignment between management incentives and shareholder interests. Please find

minutes from the annual general meeting attached.

ENDS

For additional information, please contact:

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

Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

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

Kjell Christian Bjørnsen, CFO at NEL ASA on the date and time provided.

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