Nel ASA — Major Shareholding Notification 2017

Jun 30, 2017

Disclosure of large shareholding - Nel ASA

Disclosure of large shareholding - Nel ASA

Reference is made to announcements by Nel ASA concerning

Nel´s acquisition of Proton Energy Systems Inc. As part of

the closing of the Proton transaction, F9 Investments, LLC,

which holds no shares in Nel prior to the transaction, has

on 30 June 2017 subscribed for 147,659,456 consideration

shares in Nel ASA, which corresponds to approx. 16.43% of

the total number of shares in Nel ASA after the registration

of the new share capital.