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NEL: ACQUISITION OF H2 LOGIC A/S SUCCESSFULLY COMPLETED

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Oslo, 25 June 2015,

Reference is made to previous stock exchange releases regarding NEL ASAs acquisition of all outstanding shares of H2 Logic A/S (the "Transaction"), including NEL ASAs announcement dated 31 May 2015. The Transaction is now successfully completed. As a consequence of the closing, the Company has issued 148 148 148 new shares to the selling shareholders of H2 Logic A/S.

Following registration of the new share capital in the Norwegian Register of Business Enterprises, the Company's share capital will be 119,675,820.8, divided into 598,379,104 shares each with a par value of NOK 0.20.

For further information, please contact:

Lars Christian Stugaard,

Acting CEO

+47 23 01 49 06

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