Nel ASA

Major Shareholding Notification • Jun 2, 2015

Mandatory notification of trade and disclosure of shareholdings

Mandatory notification of trade and disclosure of shareholdings

Reference is made to the notice from Nel ASA 2 June

Strata Marine & Offshore AS, a company controlled by

Mr. Øystein Stray Spetalen, board member of Nel ASA,

have been allocated 6 918 615 shares at NOK 1.35 per

share in the private placement.

Ferncliff Maris AS, a company controlled by Mr.

Øystein Stray Spetalen, board member of Nel ASA, have

been allocated 6 918 615 shares at NOK 1.35 per share

in the private placement.

After the transactions Øystein Stray Spetalen and

associated companies have a holding of 73 211 285

shares in Nel ASA, representing 16.26 % (based on 450

230 956 outstanding shares).

***

Hanekamb Invest AS, a company controlled by Mr.

Martin Nes, Chairman of Nel ASA, have been allocated

492 611 shares at NOK 1.35 per share in the private

placement.

After the transaction Martin Nes and associated

companies have a holding of 3 146 547 shares in Nel

ASA, representing 0.70 % (based on 450 230 956

outstanding shares).

***

LCS AS, a company controlled by Mr. Lars Christian

Stugaard, Acting CEO of Nel ASA, have been allocated

222 222 shares at NOK 1.35 per share in the private

placement.

After the transaction Lars Christian Stugaard and

associated companies have a holding of 1 752 991

shares in Nel ASA, representing 0.39% (based on 450

230 956 outstanding shares).

***

Dallas Asset Management AS, a company controlled by

Mr. Jan Christian Opsahl, board member of Nel ASA,

have been allocated 3 815 899 shares at NOK 1.35 per

share in the private placement.

After the transaction Jan Christian Opsahl and

associated companies have a holding of 24 516 292

shares in Nel ASA, representing 5.45 % (based on 450

230 956 outstanding shares).