Nel ASA: Primary insiders' exercise of employee share options and sale of shares in Nel ASA

(Oslo, July 12, 2017) On July 11, 2017, Nel ASA (the "Company") resolved to issue 1 879 277 new shares to employees to fulfil the Company's obligations under the Company's new share option program, thereby increasing the Company's share capital to NOK 375 855.40 with effect from registration of the shares.

The following employees who are primary insiders of Nel ASA (the "Company") subscribed for new shares under the new share option program:

Name Number of subscribed shares Exercise price per share*) Holding after the subscription
Jon André Løkke 109 217 NOK 2.289 757 159
Bent Skisaker 109 217 NOK 2.289 530 159
Anders Søreng 109 217 NOK 2.289 530 159
Bjørn Simonsen 109 217 NOK 2.289 2 235 928
Mikael Sloth 109 217 NOK 2.289 109 217**)
Lars Markus Solheim  109 217 NOK 2.289 16 030 159
Jacob Krogsgaard 109 217 NOK 2.289 109 217**)
Jørn Rosenlund  109 174 NOK 2.289 557 003
Audun Dale 65 530 NOK 2.289 244 431
Martin Pedersen 65 530 NOK 2.289 383 597

*)  Subscription/exercise price is set to the average of the 10 latest trading days before subscription, which is in accordance with the Company’s share option program.

**) In addition, Jacob Krogsgaard and Mikael Sloth controls 25% each of H2 Holding ApS, which owns 127 405 781 shares in Nel ASA.

Certain of the primary insiders have on the same date sold shares to finance the above subscription and to cover the tax levied on the matching share received in June under the Company's existing share option program (in whole or in part):

Name Number of sale shares Average sales price per share Holding after the transaction
Bent Skisaker 100 000 NOK 2.540 430 159
Anders Søreng 100 000 NOK 2.540 430 159
Bjørn Simonsen 200 000 NOK 2.538 2 035 928
Jørn Rosenlund 223 829 NOK 2.536 333 174
Audun Dale 93 901 NOK 2.550 150 530
Martin Pedersen 150 000 NOK 2.580 233 597

On the same date, Nel ASA transferred treasury shares for no consideration to an employee (who is not primary insider) of Nel, in order to fulfil obligations of Nel under the employee's employment agreement. After the transfer, Nel ASA holds 252,707 treasury shares in the Company.

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.

About Us

NEL ASA is a leading global supplier of hydrogen technology for industrial / energy purposes, and has made over 500 deliveries in more than 50 countries. The company's main products are hydrogen production plants based on water electrolysis, complete hydrogen stations for transport and renewable energy storage solutions. The company has its roots from the hydrogen activities of Norsk Hydro, which dates back to 1927. The company also has a number of patents related to tests for early detection and diagnosis of diseases.

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