Nel ASA — Share Issue/Capital Change 2020

Nov 10, 2020

OSE-FILING

10 November, 2020 – Oslo, Norway

Nel ASA: Share capital increase registered

(Oslo, 10 November 2020) Reference ismade 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 shareshasnow been registered with the Norwegian Register of BusinessEnterprises. The Company'snew registered share capital is 281,559,497.60, divided into 1,407,797,488 shares, each with a par value of NOK0.20.

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

About Nel ASA| www.nelhydrogen.com

Nel is aglobal, dedicatedhydrogencompany, delivering optimal solutions toproduce, store, anddistributehydrogenfromrenewableenergy. Weserveindustries, energy, andgas companieswithleading hydrogentechnology.Our roots datebackto1927, andsincethen,we have had a proud historyof development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: fromhydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicleswiththesamefast fueling andlong rangeas fossil-fueledvehicles - without theemissions.