Nel ASA

Earnings Release • Dec 4, 2019

Nel ASA: Receives purchase order for two additional hydrogen fueling stations in Korea

Nel ASA: Receives purchase order for two additional hydrogen fueling stations in Korea

(Oslo, 4 December 2019) Nel Korea Co., Ltd., a subsidiary of Nel ASA (Nel,

OSE:NEL) has received a purchase order from Hydrogen Energy Network Co., Ltd.

(HyNet) for two additional H2Station® hydrogen fueling stations in Korea.

"With the latest purchase order, we're up to a total of 12 H2Station® orders in

Korea in 2019. We are very pleased with this progress, and happy that we can

continue to help establish a solid network of hydrogen fueling stations in

Korea," says Jens Egholt, Global Sales Director for Nel Hydrogen Fueling.

The value of the purchase order is around EUR 2.7 million. HyNet is a special

purpose company established to roll out 100 hydrogen fueling stations in Korea

by 2022, as part of the national ambition in Korea to have more than 300

stations operational by the same year.

ENDS

For further information, please contact:

Jon André Løkke, CEO, Nel ASA, +47 907 44 949

Bjørn Simonsen, VP Investor Relations and Corporate Communication, +47 971 79

821

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.

About Nel Korea Co., Ltd.

Nel Korea is subsidiary of Nel ASA. Dedicated sales and service company for

H2Station® hydrogen fueling equipment and stations in Korea. Established in to

facilitate the sales, installation and operation of H2Station® in Korea.

H2Station® technology from Nel is renowned for reliable and high-performance

hydrogen fueling for FCEVs and compact station design.