Nel ASA

Major Shareholding Notification • Jul 3, 2017

Nel ASA: Disclosure of large shareholding

Nel ASA: Disclosure of large shareholding

(Oslo, July 3, 2017) Reference is made to today´s announcement from Nel relating

to the share capital increase in Nel ASA. Due to the dilution effects of said

capital increase, a mandatory notification is triggered for H2 Holding ApS. No

transaction is made by H2 Holding ApS, and the number of shares held by H2

Holding ApS remains at 127,405,781, equal to approx. 14.2% of the total number

of shares in Nel outstanding after the share capital increase.

ENDS

For additional information, please contact:

Bent Skisaker, CFO , +47 4682 1393

About Nel| 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

foundation 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.