Nel ASA

Regulatory Filings • Mar 24, 2021

OSE-FILING March 24, 2021 – Oslo, Norway

Nel ASA: Order for four additional H2Station™ modules from Iwatani

(Oslo, 24 March 2021) On 24 March 2021 Nel Hydrogen Fueling, a division of Nel ASA (Nel, OSE:NEL), received a purchase order for an additional four H2Station™ units for fueling of lightduty vehicles in California from Iwatani Corporation of America, a wholly owned subsidiary of Iwatani Corporation (8088: Tokyo Stock Exchange).

"We are very honored that Iwatani have selected our H2Station™ for their first hydrogen fueling station supported by the Grand Funding Opportunity under the Californian Energy Commissioning. The stations will serve existing as well as new fuel cell electric vehicles with zero-emission fuel, at the same convenience as conventional fuels. With our new Nel Inc. entity currently based in the Los Angeles area we now look forward to expanding our business in South California and supporting Iwatani," says Ulrik Torp Svendsen, Global Key Account Manager, Nel Hydrogen Fueling.

The value of the purchase order is in excess of NOK 40 million for the four H2Station™ modules which will be delivered in addition to the 14 H2Station™ modules ordered from Iwatani in 2020. Reference is made to the press release 12 November 2020 regarding the purchase order: Nel ASA: Reference is made to stock exchange announcement regarding contract for multiple hydrogen fueling stations | Nel Hydrogen

ENDS

For further information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Kjell Christian Bjørnsen, CFO, +47 917 02 097

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. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles - without the emissions.