Nel ASA: Share capital increase registered

(Oslo, 22 May 2020) Reference is made to the stock exchange announcement on 18 May 2020 regarding the issuance of shares in Nel ASA. The share capital increase pertaining to the issuance of the 6,000,000 new shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is 266,186,956.60, divided into 1,330,934,783 shares, each with a par value of NOK 0.20.

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 - without the emissions.