Nel ASA

Director's Dealing • Nov 13, 2020

OSE-FILING

November 13, 2020 – Oslo, Norway

Nel ASA: Mandatory Notification of Trade

(Oslo, 13 November 2020) JonAndré Løkke, CEOof Nel ASA("Nel") has todaysold700,634 shares inNel at anaverage price of NOK19.6486 per share. The shareswere heldbothprivatelyandthrough Ludens AS, a company100%ownedbyMr. Løkke, andthe divesture is primarilyrelatedtothe tax obligations followingNel´s optionprogram.

Following the transaction, Mr. Løkke holds 2,000,000 shares in Nel.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities TradingAct.

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

About Nel ASA| www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store, and distribute hydrogen fromrenewable energy. We serve industries, energy, and gas companies with leading hydrogen technology. Our roots date backto 1927, and since then, we have had a proud historyof development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: fromhydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, andproviding fuel cell electric vehicleswiththesamefast fueling andlong rangeas fossil-fueledvehicles