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Nel ASA: Exercise of employee share options and issue of shares

(Oslo, 6 November 2020) Nel ASA (the Company) today has resolved, in accordance with the authorization granted by the general meeting on 13 May 2020, to issue 354,000 new shares to fulfil the Company's obligations in the groupwide share option program comprising all employees in Nel fulfilling certain criteria, specified in the Company's annual report (note 6), thereby increasing the Company's share capital by NOK 70,800. In total 6 employees in the group exercised 354,000 options, where 24,000 options were exercised at the strike price of NOK 3.14, and 330,000 options were exercised at the strike price of NOK 3.24.

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