Nel ASA

Board/Management Information • Feb 4, 2020

Nel ASA: Kjell Christian Bjørnsen appointed CFO

Nel ASA: Kjell Christian Bjørnsen appointed CFO

(Oslo, 4 February 2020) Nel ASA (Nel, OSE: NEL) today announces the appointment

of Kjell Christian Bjørnsen as Chief Financial Officer (CFO) effective 1 March

"We are pleased to welcome Kjell Christian as the new Chief Financial Officer of

Nel. He brings extensive and valuable experience from a range of global

industrial companies and will play an important role in our next growth and

expansion phase," says Jon André Løkke, CEO of Nel.

Bjørnsen has served as Chief Financial Officer of the Kavli Group since 2014 and

has been appointed Chief Financial Officer of Nel from 1 March 2020. He has held

positions within business development, strategy and finance in several global

industrial companies, including the CFO position of REC ASA. He holds a MSc in

Chemical Engineering from the Norwegian University of Science and Technology

(NTNU).

Bjørnsen succeeds Bent Skisaker, who will continue to support Nel in a

transition period until the end of April 2020.

"Bent has played a crucial role in the Nel team since 2016, and I thank him for

his dedication and strong contributions to the company in an important part of

our journey in making renewable hydrogen the energy carrier of choice. I have

enjoyed working with Bent in a busy and exciting period and wish him all the

best in his new position outside Nel," Løkke concludes.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

About Nel Hydrogen | 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.