Nel ASA

Share Issue/Capital Change • Oct 5, 2017

Nel ASA: Share capital increase registered

Nel ASA: Share capital increase registered

(Oslo, October 5, 2017) Reference is made to the stock exchange announcement

from Nel ASA (the "Company") on September 27, 2017 regarding the issue of 88

million new shares upon completion of a private placement of shares.

The share capital increase pertaining to the issuance of the 88,000,000 new

shares under the private placement has now been registered with the Norwegian

Register of Business Enterprises. The Company's new registered share capital is

NOK 197,742,990.40, divided on 988 714 952 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 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

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.