Press release

Nel ASA: Key information relating to subsequent offering to be carried out by Nel ASA

(Oslo, 29 June 2018) Reference is made to the stock exchange notice from Nel ASA (the "Company") on 28 June 2018, regarding a private placement of up to 90 million new shares in the Company (the "Private Placement") and a possible subsequent offering at the same subscription price as in the Private Placement (the "Subsequent Offering").

Date on which the terms and conditions of the potential repair issue were announced: 28 June 2018

Last day including right: 28 June 2018

Ex-date: 29 June 2018

Record date: 2 July 2018

Date of approval: 28 June 2018

Maximum number of new shares: 15,000,000

Subscription price: NOK 3.12

Other information: The Subsequent Offering is subject to the publication of a prospectus approved by the Norwegian Financial Supervisory Authority. Notwithstanding the foregoing, the board of directors may, in its sole discretion, decide that the Company shall not carry out the Subsequent Offering.

This information is published in accordance with the requirements of the Continuing Obligations. This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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