(Oslo, 2 June 2017) On 1 June 2017, Nel ASA (the "Company") resolved to issue 2,517,967 new shares to employees to fulfil the Company's obligations under the Company's employee incentive plans, thereby increasing the Company's share capital to NOK 150,235,243.80.

On 1 June 2017, the following employees who are primary insiders subscribed for matching shares under the Company's existing share option program:

+---------+---------+------------------------+------------------------------+
|Name |Number of|Exercise price per share|Holding after the subscription|
| |matching | | |
| |shares | | |
+---------+---------+------------------------+------------------------------+
|Jon André|220,942 |NOK 0.20 |647,942 |
|Løkke | | | |
+---------+---------+------------------------+------------------------------+
|Bent |220,942 |NOK 0.20 |420,942 |
|Skisaker | | | |
+---------+---------+------------------------+------------------------------+
|Anders |220,942 |NOK 0.20 |420,942 |
|Søreng | | | |
+---------+---------+------------------------+------------------------------+
|Bjørn |220,942 |NOK 0.20 |2,126,711 |
|Simonsen | | | |
+---------+---------+------------------------+------------------------------+
|Lars |220,942 |NOK 0.20 |15,920,942 |
|Markus | | | |
|Solheim | | | |
+---------+---------+------------------------+------------------------------+
|Audun |93,901 |NOK 0.20 |178,901 |
|Dale | | | |
+---------+---------+------------------------+------------------------------+

On the same date, Nel ASA transferred treasury shares for no consideration to the following employees who are primary insiders, to provide the employees with matching shares under the Company's existing share option program:

+---------+---------+---------------------------------------------+
|Name of |Number of|Holding of the employee after the acquisition|
|recipient|matching | |
| |shares | |
+---------+---------+---------------------------------------------+
|Jørn |223,829 |447,829 |
|Rosenlund| | |
+---------+---------+---------------------------------------------+
|Martin B.|153,554 |318,067 |
|Pedersen | | |
+---------+---------+---------------------------------------------+

After the transfer, Nel ASA holds 502,707 treasury shares in the Company.

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