Nel ASA

Share Issue/Capital Change • Mar 11, 2025

Nel ASA: Board resolution to increase the share capital

Nel ASA: Board resolution to increase the share capital

(March 11, 2025 - Oslo, Norway) Reference made to the stock exchange filing by

Nel ASA (Nel, OSE:NEL) earlier today, regarding the investment agreement with

SAMSUNG E&A. Pursuant to the authorisation granted by the Company's general

meeting held on 23 April 2024, the Board has made the resolution to increase the

share capital from NOK 334,265,060.80 to NOK 367,691,566.80 through the issue of

167,132,530 new shares, each at par value NOK 0.20, fully subscribed by SAMSUNG

E&A. The subscription price for the new shares shall be NOK 2.1125 per share.

ENDS

For additional information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02?097

Wilhelm Flinder, Head of IR, Communications & Marketing +47 936 11 350

About Nel ASA | www.nelhydrogen.com

Nel has a history tracing back to 1927 and is today a leading pure play hydrogen

electrolyser technology company with a global presence. The company specializes

in Alkaline and PEM technology for production of renewable hydrogen. Nel's

product offerings are key enablers for a green hydrogen economy, making it

possible to decarbonize various industries such as transportation, refining,

steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of

the Norwegian Securities Trading Act. This information was issued pursuant to

the EU Market Abuse Regulation, and was published by Wilhelm Finder, Head of IR,

Communications and Marketing, at Nel ASA on the date and time provided.