Nel ASA

Board/Management Information • Jul 1, 2022

Nel ASA: Håkon Volldal starts as new CEO of Nel today

Nel ASA: Håkon Volldal starts as new CEO of Nel today

(Oslo 1 July 2022). Today, Håkon Volldal starts as the new CEO of Nel, while Jon

André Løkke enters the company's Board of Directors.

"I have looked forward to this day for a long time", says Nel's new CEO Håkon

Volldal. "Nel is an exciting company with a bright future, not only

commercially, but also as a vital part of the green energy transition."

Volldal states that Nel's strategy and ambitions will remain firm.

"We will further develop our company and technology offering, help our customers

decarbonize their businesses and keep our position as the leader in green

hydrogen technologies," says Volldal.

Volldal has CEO experience from Q-Free, a publicly listed company that develops

solutions for tolling and traffic management. He also has background from

consultancy company McKinsey and one of the world's leading suppliers of

recycling machines, TOMRA.

"I want to spend my professional life in companies that make the world a better

place, and Nel is undoubtedly such a company," says Volldal, adding that he is

impressed by the fantastic journey the company has made over the last years.

Nel's resigning CEO, Jon André Løkke, is convinced Volldal has the leadership

capabilities necessary for Nel to reach its full potential.

"Håkon has achieved remarkable results in his previous positions. He is an

analytical and knowledgeable leader and is now fully up to speed on Nel. I am

convinced that the transition will be very smooth, and that he has the

capabilities required to take or company to the next level," says Løkke.

Løkke joins Nel's Board of Directors today.

ENDS

For additional information, please contact:

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

Wilhelm Flinder, Head of Investor Relations, +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. Since its

origins in 1927, Nel has a proud history of development and continual

improvement of hydrogen plants. Our hydrogen solutions cover the entire value

chain from hydrogen production technologies to manufacturing of hydrogen fueling

stations, providing all fuel cell electric vehicles with the same fast fueling

and long range as conventional vehicles today.