Share capital increase registered

Reference is made to the stock exchange announcement from NEL ASA (the "Company") on 15 June 2016 regarding the issue of new shares in connection with the Company's incentive scheme.

The share capital increase pertaining to the issuance of the 3,076,926 new shares under the incentive scheme has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 136,735,650.4o, divided on 683,678,252 shares, each with a nominal value of NOK 0.20 per share.

For further information, please contact:

Lars Christian Stugaard

CFO

+47 23 01 49 06 / +47 47 63 05 22

lars.christian.stugaard@nel-hydrogen.com

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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