Nel ASA

Investor Presentation • May 7, 2020

Jorgo Chatzimarkakis Secretary General

A 2x40 GW Green Hydrogen Initiative for a European Green Deal

7 May 2020

The following presentation is the property of Hydrogen Europe and is not a part of Nel´s official market analysis and company outlook

Energy companies

Transport companies

Industrial companies Hydrogen Europe RESEARCH

Hydrogen Europe: Pure Hydrogen Companies

FCH techno providers and/or pure players

Multitalent Hydrogen "Missing Link"

1. Energy vector 2. Fuel 3. Chemical feedstock

Projected change in primary energy demand by fuel in 2020 relative to 2019

European Green Deal

Corona imposes economic recovery. Climate protection remains a major challenge.

Mr Green Deal Frans Timmermans

How to scale up green hydrogen?

Unique opportunity to develop green hydrogen

Solar/wind resources

Hydrogen backbone

Salt Caverns

Investments in EU	Investments	Investments in Ukraine and	Investments
	Billion €	North-Africa	Billion €
Electrolysers	13,7	Electrolysers	13,5
Offshore Wind	44,7	Solar CSP	39,4
Onshore Wind	23,4	Onshore Wind	24,6
Solar PV	14,2	Solar PV	14,0
TOTAL	96,0	TOTAL	91,5

170.000 Jobs in electrolyser manufacturing

4 GW in 2030 10 GW in 2040 800.000 t of H2/y

Investments happen now!

1. Climate objectives maintained or raised. HydroGenewables Heart of the Green Deal

industry. 3. Financial support linked to strong Covid-19 survey in the H2 industry

4. Compensating short term losses.

Shift happens - Now!