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Nel ASA: Issue of shares and exercise of employee share options in Nel ASA

(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:

NameNumber of matching shares Exercise price per shareHolding after the subscription
Jon André Løkke220,942NOK 0.20647,942
Bent Skisaker220,942NOK 0.20420,942
Anders Søreng220,942NOK 0.20420,942
Bjørn Simonsen220,942NOK 0.202,126,711
Lars Markus Solheim220,942NOK 0.2015,920,942
Audun Dale93,901NOK 0.20178,901

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 recipient Number of matching shares Holding of the employee after the acquisition
Jørn Rosenlund223,829447,829
Martin B. Pedersen153,554318,067

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

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