Nel ASA — AGM Information 2022

Jun 28, 2022

Nel ASA: Notice of Extraordinary General Meeting

Nel ASA: Notice of Extraordinary General Meeting

(Oslo, 28 June 2022) Nel ASA (Nel, OSE: NEL) calls for an Extraordinary General

Meeting to be held on 2 August 2022 at 15:00 (CET).

Please find the convening notice attached. Relevant documents and link for

registration are made available on www.nelhydrogen.com. The extraordinary

general meeting will be held as a physical event at Skøyen Atrium, Askekroken

11, 0277 Oslo, Norway.

At the annual general meeting in 2022, it was proposed that the Board was

granted one generic authorization to increase the Company's share capital, and

another authorization limited for use in connection with incentive programs.

Such authorizations require the support from at least 2/3 of the votes cast to

be approved. The generic authorization received the required support, but the

proposed authorization for incentive programs did not. The Board considers it in

the shareholders' interests that granted options under existing option programs

may be settled in shares rather than in cash, and has therefore decided to

present the matter again for renewed consideration by the shareholder meeting.

At the same time, it is specified that the proposed authorization is limited for

use in connection with already granted options under discontinued option

programs.

ENDS

For additional information, please contact:

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

Wilhelm Flinder, Head of Investor Relation, +47 936 11 350

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to

produce, store, and distribute hydrogen from renewable energy. We serve

industries, energy, and gas companies with leading hydrogen technology. Our

roots date back to 1927, and since then, we have had a proud history of

development and continuous improvement of hydrogen technologies. Today, our

solutions cover the entire value chain: from hydrogen production technologies to

hydrogen fueling stations, enabling industries to transition to green hydrogen,

and providing fuel cell electric vehicles with the same fast fueling and long

range as fossil-fueled vehicles - without the emissions.