Nel ASA

Regulatory Filings • Apr 3, 2018

Nel ASA: Receives additional purchase order from Nikola

Nel ASA: Receives additional purchase order from Nikola

(Oslo, 3 April, 2018) Nel ASA (Nel, OSE: NEL) has received a USD 5.5 million

purchase order from Nikola Motor Company (Nikola), as part of the previously

announced hydrogen stations.

"We are very proud to announce that we have received an additional order from

Nikola related to the electrolyzer and fueling solution for their prototype

trucks. The order marks a strengthening of our partnership and is a recognition

of the level of competence our team and hydrogen solutions can offer. We look

forward to supplying the demo stations, which will lay the groundwork for the

world's largest, most efficient network of low-cost hydrogen production and

fueling sites," says Jon André Løkke, Chief Executive Officer of Nel.

On November 15, 2017, Nikola and Nel announced the exclusive partnership and a

purchase order for two so-called demo hydrogen refueling stations for Nikola's

fleet of prototype hydrogen trucks. The partnership aims at developing low-cost,

renewable hydrogen production and fueling sites for the potential development of

14 large-scale sites, however, Nikola and Nel are now evaluating if the initial

station number should be doubled to 28 stations.

"The Nikola hydrogen electric semi-trucks will begin testing with fleets in 2019

and begin full production in 2021. One of the most respected brands in America

just signed an order with Nikola to convert 100% of their fleet over to Nikola

trucks. This will require an additional 28 more stations to go up to support

those efforts on top of the existing Nel purchase order. Nel has been a great

partner to work with and we are excited to begin replacing diesels in America

with zero emission trucks. The future for zero emission trucks has never been

brighter," says Trevor Milton, Chief Executive Officer of Nikola.

The additional purchase order has a value of USD 5.5 million, bringing the total

value for the demo stations to approximately USD 9 million, with delivery in the

second half of 2018 and into 2019.

Nel will host an investor call today at 16:30 CET, were Jon André Løkke and

Trevor Milton will present the partnership and facilitate a joint question and

answer session. Please join the event 5-10 minutes prior to the start by using

the number and confirmation code below:

+------------------+-------+

|Confirmation Code:|8098212|

+------------------+-------+

+--------------------------+-------------------+

|Location |Phone number |

+--------------------------+-------------------+

|Norway, Oslo |+47 2350 0296 |

+--------------------------+-------------------+

|United Kingdom |+44 (0)330 336 9412|

+--------------------------+-------------------+

|United States, Los Angeles|+1 323-794-2551 |

+--------------------------+-------------------+

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Bjørn Simonsen, VP Market Development & Public Relations, +47 971 79 821

Colleen Robar, +1 313-207-5960, crobar@robarpr.com (Nikola)

About Nikola Motor Company | www.nikolamotor.com

Nikola Motor Company designs and manufactures electric vehicles, vehicle

components, energy storage systems, and electric vehicle drivetrains. NMC is led

by its visionary CEO Trevor Milton (twitter: @nikolatrevor), who has assembled

one of the most talented teams in the country to bring the Nikola products to

market. The company is privately-held. For more information, visit

nikolamotor.com or Twitter: @nikolamotor.

About Nel Hydrogen | 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 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.