Approved Prospectus and Commencement of the Subsequent Offering
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES Oslo, 24 June 2015 Reference is made to the stock exchange announcement by NEL ASA (the "Company" or "NEL") on 2 June 2015 regarding the completed Private Placement, and on 23 June 2015 regarding the minutes from an extraordinary general meeting which included, among other resolutions, the approval of the Subsequent Offering. The Financial Supervisory Authority of Norway has today approved a prospectus prepared by the Company covering the