Nel ASA

Regulatory Filings • Aug 31, 2020

OSE-FILING

August 31, 2020 – Oslo, Norway

Nel ASA: Final result of exercise of employee share options

(Oslo , 31 A ug ust 2020) R eference is mad e t o the st o ck exchang e anno uncement b y Nel A SA (the "Comp any") o n 28 A ug ust 2020 reg ard ing the exercise o f emp lo yee share o p t io ns. To d ay the exercise o f emp lo yee share o p t io ns was comp leted , and the o b tained selling p rice was NOK 20,80.

As a result of reaching the cap on maximum NOK 5.00 NOK gain per option, 391,147 shares, out of the 6,048,000 shares issued, were added to the Company's holding of treasury shares. After the transfer, Nelholds 396,342 treasury shares in the Company.

After exercising options, primary insider David Bow will receive 157,691 shares. Following the finalization of the stock option exercise process, the primary insider holds 355,287 shares and 612,000 options with strike prices ranging from 7.8 to 21.72 NOKin the Company.

ENDS

F o r fur ther info rmat io n, p lease co ntact :

Kjell Christian Bjørnsen, CFO, Nel ASA , +47 917 02 097

A b o ut N el A SA | www.nelhy d r o g en.c om

Nel isa global, dedicated hydrogencompany, delivering optimal solutionsto produce, store,and distribute hydrogenfromrenewable energy. We serve industries,energy,and gascompanies withleading hydrogentechnology. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement ofhydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations,enabling industriesto transitionto greenhydrogen,and providing fuel cellelectricvehicles withthe same fast fueling and long range asfossil-fueled vehicles- without the emissions.