Nel ASA

Share Issue/Capital Change • Jun 25, 2015

NEL: ACQUISITION OF H2 LOGIC A/S SUCCESSFULLY COMPLETED

NEL: ACQUISITION OF H2 LOGIC A/S SUCCESSFULLY COMPLETED

Oslo, 25 June 2015,

Reference is made to previous stock exchange releases regarding NEL ASAs

acquisition of all outstanding shares of H2 Logic A/S (the "Transaction"),

including NEL ASAs announcement dated 31 May 2015. The Transaction is now

successfully completed. As a consequence of the closing, the Company has issued

148 148 148 new shares to the selling shareholders of H2 Logic A/S.

Following registration of the new share capital in the Norwegian Register of

Business Enterprises, the Company's share capital will be 119,675,820.8, divided

into 598,379,104 shares each with a par value of NOK 0.20.

For further information, please contact:

Lars Christian Stugaard,

Acting CEO

+47 23 01 49 06