Nel ASA: Receives purchase order for an alkaline electrolyser in Europe

(Oslo, 28 March 2022) Reference is made to the commercial update from Nel ASA (Nel, OSE:NEL) on 23 March 2022. Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has now received a firm order for an alkaline electrolyser system from an undisclosed European customer to provide green hydrogen to the European market.

Nel Hydrogen Electrolyser AS has received a contract for an alkaline electrolysis hydrogen production unit to be delivered to an innovative project that will distribute green hydrogen to multiple clients.

The purchase order has a value of approximately EUR 3 million.

ENDS

For additional information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

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 - without the emissions.

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

This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time provided.