Nel ASA

Share Issue/Capital Change • Jul 3, 2017

Nel ASA: Share capital increased

Nel ASA: Share capital increased

(Oslo, July 3, 2017) Reference is made to announcement on 30 June 2017 relating

to closing of the Proton acquisition. The share capital increase resulting from

the consideration shares is now registered. The new share capital is

179,767,135, divided into 898,835,675 shares each with a par value of NOK 0.20.

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.