Nel ASA — M&A Activity 2021

Jan 10, 2021

OSE-Filing January 10, 2021 – Oslo, Norway

Approval of Everfuel contract

(Oslo, 10 January 2021) Reference is made to the 30 December 2020 announcement from Nel ASA (OSE:NEL) regarding a 20 MW electrolyser contract with Everfuel A/S. The contract has today been approved by the Board of Directors of Nel ASA.

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 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.