Nel ASA: Receives purchase order for multiple H2Station™ units from a European client

(Oslo, 10 August 2022) Nel Hydrogen A/S, a subsidiary of Nel ASA (Nel, OSE: NEL) has received a purchase order from an undisclosed European client for the delivery of several H2Station™ units for fueling of light- and heavy-duty fuel cell electric vehicles.

The contract has a total value of approximately EUR 8 million and includes service & maintenance. The delivery of the H2Station™ units is planned in early 2023.

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

Wilhelm Finder, 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.