Nel ASA

Share Issue/Capital Change • Nov 28, 2019

Nel ASA: Share capital increase registered

Nel ASA: Share capital increase registered

(Oslo, 28 November 2019) Reference is made to the stock exchange announcement by

Nel ASA (the "Company") on 14 November 2019 regarding the exercise of employee

options and issue of 332,000 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 244,420,556.60 divided into

1,222,102,783 shares, each with a par value of NOK 0.20.

ENDS

For additional information, please contact:

Bent Skisaker, CFO, +47 468 21 693

About Nel ASA | www.nelhydrogen.com

Nel Hydrogen 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.

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