Nel ASA

Remuneration Information • Jul 16, 2025

Nel ASA: CEO share option program

Nel ASA: CEO share option program

(July 16, 2025 - Oslo, Norway) Nel ASA has today granted 500,000 options under

its long-term incentive (LTI) program for its CEO, Håkon Volldal. The strike

price for the granted options is NOK 2.765, a premium of 10% over the closing

share price on June 30, 2025, representing the three-year anniversary of his

commencement date. The vesting period is three years and the options expired

after five years.

Reference made to the press release dated January 5, 2022, where today a total

of 500,000 share options has been granted to Håkon Volldal in accordance with

the company's LTI program for the CEO. Each option, upon vesting, entitles

Volldal to acquire one share in the Company. These options are granted without

any considerations. As per the vesting schedule, 100% of these options will vest

after three years. The vesting of options is contingent upon Håkon Volldal's

continued employment with the Company. Options that have not been exercised will

expire five years after the grant date.

According to the LTI program, Håkon Volldal will receive 500,000 options on each

of the first, second, and third anniversaries of his commencement date. The

total accumulated profit for all options is capped at NOK 25 million, with a

limit of NOK 30 per option.

Following the grant, Håkon Volldal holds 0 shares and 1 500 000 options.

ENDS

For additional information, please contact:

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

Wilhelm Flinder, Head of IR, Communications and 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

technology company with a global presence. The company specializes in Alkaline

and PEM electrolyser 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

Investor Relations, at NEL ASA on the date and time provided.