Nel ASA

Share Issue/Capital Change • Mar 16, 2020

Nel ASA: Share capital registered

Nel ASA: Share capital registered

(Oslo, 16 March 2020) Reference is made to the stock exchange announcement by

Nel ASA (the "Company") on 12 March 2020 regarding the exercise of employee

options and issue of 482,000 new shares. The share capital increase pertaining

to the issuance of the new shares has now been registered with the Norwegian

Register of Business Enterprises. The Company's new registered share capital is

NOK 262,316,956.60 divided into 1,311,584,783 shares, each with a par value of

NOK 0.20.

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, Nel ASA, +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.