Nel ASA

M&A Activity • Jan 24, 2023

Nel ASA: Announces sale of Hyon shares

Nel ASA: Announces sale of Hyon shares

(January 24, 2023 - Oslo, Norway,) Nel ASA, (Nel, OSE:NEL) has divested all its

shares in Hyon AS. A total of 9,804,000 shares were sold for a total net

consideration of about NOK 7 million. Nel has reported the holding in Hyon as a

financial current asset.

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 is a global, dedicated hydrogen company, delivering optimal solutions to

produce, store and distribute hydrogen from renewable energy. We serve

industries, energy and gas companies with leading hydrogen technology. Since its

origins in 1927, Nel has a proud history of development and continual

improvement of hydrogen plants. Our hydrogen solutions cover the entire value

chain from hydrogen production technologies to manufacturing of hydrogen fueling

stations, providing all fuel cell electric vehicles with the same fast fueling

and long range as conventional vehicles today.