Nel ASA

Transaction in Own Shares • Jun 15, 2016

Issue of new shares in connection with NEL ASAs incentive scheme and mandatory notification of trade

Subscriber	New shares	Total holding after the
		transaction
Jon André Løkke	200,000	342,000
Martin Pedersen	153,554	164,513
Karsten Poulsen	100,000	100,000
Jørn Rosenlund	223,829	223.829
Lars Markus Solheim	200,000	15,700,000
Ole Arnt Lindgren	45,000	15,545,000
Audun Dale	85,000	85,000
Bjørn Simonsen	200,000	1,905,769
Anders Søreng	200,000	200,000

The following primary insiders of the Company were granted shares under the incentive scheme:

The new shares were subscribed for at NOK 2.476 per share.