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Press release

Nel ASA: Mandatory Notification of Trade

(Oslo, 18 May 2020) Jørn Rosenlund, SVP Nel Hydrogen Fueling of Nel ASA (“Nel”) has today sold 200,000 shares in Nel at an average price of NOK 11.75 per share. Following the transaction, Mr. Rosenlund holds 300,000 shares in Nel. Jørn Rosenlund also holds 554 000 options in the company, terms and conditions of which are further described in the Company's annual report 2019 (note 6).

For further information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

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