Nel ASA - Share Issue/Capital Change 2020

Nel ASA: Share capital increase registered

(Oslo, 10 November 2020) Reference is made to the stock exchange announcement on

6 November 2020 regarding the issuance of shares in Nel ASA. The share capital

increase pertaining to the issuance of the 354,000 new shares has now been

registered with the Norwegian Register of Business Enterprises. The Company's

new registered share capital is 281,559,497.60, divided into 1,407,797,488

shares, each with a par value of NOK 0.20.

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

About Nel ASA | 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. Our

roots date back to 1927, and since then, we have had a proud history of

development and continuous improvement of hydrogen technologies. Today, our

solutions cover the entire value chain: from hydrogen production technologies to

hydrogen fueling stations, enabling industries to transition to green hydrogen,

and providing fuel cell electric vehicles with the same fast fueling and long

range as fossil-fueled vehicles - without the emissions.

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