Nel ASA

Capital/Financing Update • Dec 18, 2018

Nel ASA: Receives H2Station® orders from Shell under new framework agreement

Nel ASA: Receives H2Station® orders from Shell under new framework agreement

(Oslo, 18 December 2018) Nel Hydrogen A/S, a subsidiary of Nel ASA (Nel,

OSE:NEL), has received purchase orders from Shell Nederland Verkoopmaatschappij

B.V. for installation of two H2Station® in the Netherlands. The orders follow

the signing of a new framework agreement between Nel and Shell Global Solutions

International B.V.

"We are excited to announce a new framework agreement with Shell, which is not

only a great honor but also proves the strength of our state-of-the-art

technology. We look forward to continuing our strong partnership and will make

the necessary investments to support Shell's roll-out of a hydrogen fueling

network, both in California, as well as other key markets," says Jon André

Løkke, Chief Executive Officer of Nel.

The two H2Station® units in the Netherlands will be manufactured and installed

during 2019, with a total contract value of approximately EUR 2.5 million. Nel

Hydrogen has delivered several H2Station® solutions for Shell since 2014, both

in Europe and in the U.S.  The new framework agreement underscores a commitment

between the two companies to continue a partnership in the global roll-out of

hydrogen stations.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 9074 4949

Bjørn Simonsen, VP Market Development & Public Relations, +47 971 79 821

About Nel Hydrogen | www.nelhydrogen.com

Nel Hydrogen 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.