Nel ASA: Receives purchase order for several H2Station modules in France

(Oslo, 21 March 2022) Nel Hydrogen Fueling, a subsidiary of Nel ASA (Nel, OSE: NEL) has received a purchase order from HysetCo for several H2Station^TM modules to be used for light-duty fuel cell electric vehicles in Paris, France.

“We are delighted to announce that we have been chosen as supplier for hydrogen fueling station equipment by HysetCo and are looking forward to support HysetCo’s efforts in developing the hydrogen mobility infrastructure in France”, says Martin Pfandl, Sales and Business Development Director EMEA at Nel Hydrogen Fueling.

HysetCo is a pioneer of the hydrogen mobility devoted to the development of hydrogen refueling stations network, which owns the world’s largest fleet of hydrogen taxis, deployed in the Paris region.

The installation of the H2Station^TM modules at the future HysetCo station of Le Bourget is partly funded with the support of the public-private partnership of FCH JU (Fuel Cells and Hydrogen Joint Undertaking) and is scheduled to be operational in 2022.

The parties have agreed not to disclose the contract value.

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

Wilhelm Finder, Head of IR, +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.