Nel ASA

Share Issue/Capital Change • Aug 30, 2019

Nel ASA: Enters into contract to deliver a 3.5 MW alkaline electrolyzer

Nel ASA: Enters into contract to deliver a 3.5 MW alkaline electrolyzer

(Oslo, 30 August 2019) Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA

(Nel, OSE:NEL) has entered into a contract to deliver a 3.5 MW alkaline

electrolyzer to a large, international energy company.

Further details on the project will be released at a later point in time. The

value of the contract is approximately USD 4 million, and the electrolyzer is

scheduled to be installed during 2020.

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.