Nel ASA - Share Issue/Capital Change 2017

Nel ASA: Key information relating to subsequent offering to be carried out by Nel ASA

(Oslo, 28 September 2017) Reference is made to the stock exchange notice from

Nel ASA (the "Company") on 27 September 2017, regarding a private placement of

up to 88 million new shares in the Company (the "Private Placement") and a

possible subsequent offering at the same subscription price as in the Private

Placement (the "Subsequent Offering").

Date on which the terms and conditions of the potential repair issue were

announced: 27 September 2017

Last day including right: 27 September 2017

Ex-date: 28 September 2017

Record date: 29 September 2017

Date of approval: 27 September 2017

Maximum number of new shares: 10,000,000

Subscription price: NOK 2.50

Other information (optional): The Subsequent Offering is subject to the

publication of a prospectus approved by the Norwegian Financial Supervisory

Authority. Notwithstanding the foregoing, the board of directors may, in its

sole discretion, decide that the Company shall not carry out the Subsequent

Offering.

This information is published in accordance with the requirements of the

Continuing Obligations. This information is subject of the disclosure

requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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