Nel ASA

Mandatory notification of trade Nel ASA

Reference is made to the notice from Nel ASA 28 November

Strata Marine & Offshore AS, a company controlled by Mr.

Øystein Stray Spetalen, board member of Nel ASA, have been

allocated 4 250 000 shares at NOK 1.30 per share in the

private placement.

After the transaction Øystein Stray Spetalen and associated

companies have a holding of 89 670 838 shares in Nel ASA,

representing 22.5% (based on 398 929 104 outstanding

shares).

***

Hanekamb Invest AS, a company controlled by Mr. Martin Nes,

Board member of Nel ASA, have been allocated 500 000 shares

at NOK 1.30 per share in the private placement.

After the transaction Martin Nes and associated companies

have a holding of 500 000 shares in Nel ASA, representing

0.13% (based on 398 929 104 outstanding shares).

***

Simonsen Invest AS, a company controlled by Mr. Bjørn

Simonsen, Director - Market Development and Public

Relations of Nel ASA, have been allocated 110 000 shares at

NOK 1.30 per share in the private placement.

After the transaction Bjørn Simonsen and associated

companies have a holding of 1 340 769 shares in Nel ASA,

representing 0.34% (based on 398 929 104 outstanding

shares).

***

LCS AS, a company controlled by Mr. Lars Christian

Stugaard, Acting CEO of Nel ASA, have been allocated 300

000 shares at NOK 1.30 per share in the private placement.

After the transaction Lars Christian Stugaard and

associated companies have a holding of 300 000 shares in

Nel ASA, representing 0.08% (based on 398 929 104

outstanding shares).

***

ELMO Holding AS, a company controlled by Mr. Lars Markus

Solheim, Mr. Erik Evju, Mr. Ole Arnt Lindgren and Mr. Magne

Myrhaug, all employees of Nel ASA, have been allocated 4

000 000 shares at NOK 1.30 per share in the private

placement.

After the transaction ELMO Holding AS have a holding of 59

384 615 shares in Nel ASA, representing 14.89% (based on

398 929 104 outstanding shares).

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