Nel ASA

Share Issue/Capital Change • Mar 6, 2017

Nel ASA: Share capital increase registered

Nel ASA: Share capital increase registered

(Oslo, 6 March 2017) Reference is made to the stock exchange notice published by

NEL ASA (the "Company", ticker "NEL") on 28 February 2017 regarding the

completed private placement of 64,980,000 new shares, each with a par value of

NOK 0.20, at a price of NOK 2.72 per share (the "Private Placement").

The share capital increase pertaining to the 64,980,000 new shares issued in the

Private Placement has now been registered with the Norwegian Register of

Business Enterprises.

The Company's new registered share capital is NOK 149,731,650.40, consisting of

748,658,252 shares with a par value of NOK 0.20 per share.

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 9074 4949

Bent Skisaker, CFO, +47 4682 1693

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.