Completed Private Placement

Oslo, 10 October 2014

Reference is made to the stock exchange announcement made by Diagenic ASA (“Diagenic” or the “Company”) yesterday, 9 October 2014, regarding the Minutes from the Extraordinary General Meeting and the resolved acquisition of New NEL Hydrogen Holding AS (the “Acquisition”), the private placement of NOK 35 million (the “Private Placement”) and the new share issue of NOK 35 million, with preemptive rights for shareholders of the Company (the “Rights Issue”).

The Company today announces that it has raised NOK 35 million in gross proceeds through the Private Placement of 53,846,154 new shares, each with a par value of NOK 0.20, at a price of NOK 0.65 per share.

The net proceeds from the Private Placement will secure growth capital for the new business area resulting from the acquisition of New NEL Hydrogen Holding AS (“NEL Hydrogen”) and serve as means to settle the cash consideration in the acquisition.

 Notification of allotment and payment instructions for the Private Placement will be sent to the applicants today through a notification to be issued by the Manager. The new shares are expected to be delivered to the subscribers and listed on the Oslo Stock Exchange on or about 17 October 2014, subject to approval of a prospectus.  After completion of the Private Placement, the Company will have 285,082,950 shares outstanding (including 123,076,923 new shares to be issued in connection with the Acquisition), each with a par value of NOK 0.20. The Private Placement was managed by Carnegie AS.

For further information, please contact:

Lars Christian Stugaard

Acting CEO

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

Lars.christian.stugaard@diagenic.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.