Nel ASA

Nel ASA: Settlement agreed on PDC compressor claim

(Oslo, 29 September 2018) Reference is made to Nel ASA's stock exchange

announcement of 2 December 2017, regarding a writ of summons against Nel ASA's

subsidiary Nel Hydrogen A/S ("NH A/S"). The writ was issued by PDC Machines,

Inc. (PDC), one of NH A/S' American suppliers, and alleged misappropriations of

compressor trade secrets. NH A/S and PDC have now agreed to settle the legal

dispute between them. The parties look forward to continuing their joint efforts

to provide products and services of the highest quality to customers in the

hydrogen industry.

The substantial efforts put down by Nel and its advisors to reach a solution in

this dispute has entailed additional legal- and other related costs in Q3. The

expected negative impact of such costs was communicated in the outlook in the

Company's Q2 2018 interim report.

"We are very happy to put this behind us. With all the opportunities we see

throughout the hydrogen industry, we can now spend all our energy in moving

forward" says Jon André Løkke, CEO of Nel.

"The PDC business family is happy to put this challenging process in the past

and move ahead with vigor in supporting our mutual business moving ahead," says

Kareem Afzal Vice President of PDC Machines, Inc.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

About Nel | 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

foundation 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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