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

(Oslo, 22 October 2021) Nel ASA (the Company) today has resolved, in accordance with the authorization granted by the general meeting on 15 April 2021, to issue 200,800 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 40,160. In total 10 employees in the group exercised 200,800 options, where 35,000 options were exercised at the strike price of NOK 3.24, and 165,800 options were exercised at the strike price of NOK 7.80. The options were granted in 2018 and 2019.