(Oslo, 28 February 2017) Reference is made to announcement by Nel ASA (the "Company" or "NEL") on 27 February 2017 concerning a private placement of new shares and a subsequent offering with non-tradable subscription rights for eligible shareholders.
| Date on which the terms of the subsequent offering was announced: | 27 February 2017 |
| Last day including right to receive subscription rights: | 27 February 2017 |
| First day excluding right to receive subscription rights: | 28 February 2017 |
| Record date: | 1 March 2017 |
| Maximum number of new shares in the subsequent offering: | 10,000,000 |
| Subscription price: | NOK 2.72 |
| Shall the rights be listed: | NO |