Press release

Nel ASA: Primary insiders’ exercise of employee share options and sale of shares in Nel ASA

(Oslo, July 12, 2017) On July 11, 2017, Nel ASA (the "Company") resolved to issue 1 879 277 new shares to employees to fulfil the Company's obligations under the Company's new share option program, thereby increasing the Company's share capital to NOK 375 855.40 with effect from registration of the shares.

The following employees who are primary insiders of Nel ASA (the "Company") subscribed for new shares under the new share option program:

NameNumber of subscribed shares Exercise price per share*)Holding after the subscription
Jon André Løkke109 217NOK 2.289757 159
Bent Skisaker109 217NOK 2.289530 159
Anders Søreng109 217NOK 2.289530 159
Bjørn Simonsen109 217NOK 2.2892 235 928
Mikael Sloth109 217NOK 2.289109 217**)
Lars Markus Solheim 109 217NOK 2.28916 030 159
Jacob Krogsgaard109 217NOK 2.289109 217**)
Jørn Rosenlund 109 174NOK 2.289557 003
Audun Dale65 530NOK 2.289244 431
Martin Pedersen65 530NOK 2.289383 597

*)  Subscription/exercise price is set to the average of the 10 latest trading days before subscription, which is in accordance with the Company’s share option program.

**) In addition, Jacob Krogsgaard and Mikael Sloth controls 25% each of H2 Holding ApS, which owns 127 405 781 shares in Nel ASA.

Certain of the primary insiders have on the same date sold shares to finance the above subscription and to cover the tax levied on the matching share received in June under the Company's existing share option program (in whole or in part):

NameNumber of sale shares Average sales price per shareHolding after the transaction
Bent Skisaker100 000NOK 2.540430 159
Anders Søreng100 000NOK 2.540430 159
Bjørn Simonsen200 000NOK 2.5382 035 928
Jørn Rosenlund223 829NOK 2.536333 174
Audun Dale93 901NOK 2.550150 530
Martin Pedersen150 000NOK 2.580233 597

On the same date, Nel ASA transferred treasury shares for no consideration to an employee (who is not primary insider) of Nel, in order to fulfil obligations of Nel under the employee's employment agreement. After the transfer, Nel ASA holds 252,707 treasury shares in the Company.

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