NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

(Oslo, 16 April 2019) Reference is made to the stock exchange announcement by Nel ASA (the "Company") on 10 April 2019 regarding the final results of the subsequent offering of up to 12,500,000 new shares in the Company.

The share capital increase pertaining to the issuance of the 12,500,000 new shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 242,889,761.20, divided into 1,214,448,806 shares, each with a par value of NOK 0.20.

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