Nel ASA

Share Issue/Capital Change • Sep 25, 2018

Nel ASA: Share capital increase registered

Nel ASA: Share capital increase registered

(Oslo, 25 September 2018) Reference is made to stock exchange announcement of 19

September 2018 published by Nel ASA (the "Company") regarding the final result

of the Company's Subsequent Offering of shares. The share capital increase

pertaining to the 15,000,000 shares issued in the Subsequent Offering has now

been registered with the Norwegian Register of Business Enterprises. The

Company's new registered share capital is NOK 222,710,276.40, divided on

1,113,551,382 shares, each with a nominal value of NOK 0.20 per share.

ENDS

For additional information, please contact:

Bent Skisaker, CFO, +47 468 21 693

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.