Press release

Nel ASA: Share capital increase registered

(Oslo, 18 September 2019) Reference is made to the stock exchange announcement by Nel ASA (the "Company") on 4 September 2019 regarding the exercise of employee options and issue of 4,393,877 new shares.

The share capital increase pertaining to the issuance of the new shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 244,354,156.60 divided into 1,221,770,783 shares, each with a par value of NOK 0.20.

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