Nel ASA: Mandatory Notification of Trade

(Oslo, 13 November 2020) Jon André Løkke, CEO of Nel ASA (“Nel”) has today sold 700,634 shares in Nel at an average price of NOK 19.6486 per share. The shares were held both privately and through Ludens AS, a company 100% owned by Mr. Løkke, and the divesture is primarily related to the tax obligations following Nel´s option program.

Following the transaction, Mr. Løkke holds 2,000,000 shares in Nel.

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

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

About Nel ASA | 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. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles