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Press release

Nel ASA: Share capital increase registered

(Oslo, 2 July 2018) Reference is made to the stock exchange announcement from Nel ASA (the "Company") on 28 June 2018 regarding the issue of 90 million new shares upon completion of a private placement of shares.

The share capital increase pertaining to the issuance of the 90,000,000 new shares under the private placement has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 218,682,612.60, divided on 1,093,413,063 shares, each with a nominal value of NOK 0.20 per share.

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