Nel ASA

Regulatory Filings • Nov 14, 2022

Nel ASA: Receives 40 MW electrolyser order from undisclosed North European client

Nel ASA: Receives 40 MW electrolyser order from undisclosed North European client

(Oslo, 14 November 2022) Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA

(Nel, OSE:NEL), has signed a NOK 120 million contract for alkaline electrolyser

equipment with a high quality North European energy company. The contract also

includes front-end engineering and design (FEED) study related to the

deliveries.

This contract is for alkaline electrolyser equipment and related FEED, and

includes pass-through mechanisms for steel and nickel price adjustments.

Production of electrodes is estimated to be completed by end-2023.

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.

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.