Nel ASA

Capital/Financing Update • Jun 30, 2020

Nel ASA: Receives purchase order for multiple hydrogen fueling stations

(Oslo, 30 June 2020) Nel Hydrogen Fueling, a division of Nel ASA (Nel, OSE:NEL) has received a purchase order for multiple H2Station™ units from a large international company.

"We are honored that the company has chosen to go for our H2Station™ fueling solution, and we look forward to support their fueling station deployment", says Ulrik Torp Svendsen, Key Account Manager, Nel Hydrogen Fueling.

The value of the purchase order is in excess of NOK 150 million, and the H2Station™ modules which will be used for fueling of passenger vehicles in an existing market for Nel will be installed on multiple sites during 2021. Additional information on the project will be provided in the second half of 2020.

ENDS

For further information, please contact:

Jon André Løkke, CEO, +47 907 44 949 Bjørn Simonsen, VP Investor Relations & Corporate Communication, +47 971 79 821

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.