Nel ASA

Share Issue/Capital Change • Jun 2, 2017

Nel ASA: Issue of shares registered

Nel ASA: Issue of shares registered

(Oslo, 2 June 2017) Reference is made to the stock exchange announcement from

Nel ASA published earlier today, regarding the issue of shares in relation to

the Company's employee incentive plan. The issue of the shares mentioned in said

announcement has now been registered in the Norwegian Register of Business

Enterprises. Following the issuance of the new shares, the share capital of Nel

ASA is NOK 150,235,243.80 consisting of 751,176,219 shares with a nominal value

of NOK 0.20 each.

ENDS

For additional information, please contact:

Bent Skisaker, CFO, +47 4682 1693

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.