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Press release

Nel ASA: Share capital increase registered

(Oslo, 25 September 2018) Reference is made to stock exchange announcement of 19 September 2018 published by Nel ASA (the "Company") regarding the final result of the Company's Subsequent Offering of shares. The share capital increase pertaining to the 15,000,000 shares issued in the Subsequent Offering has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 222,710,276.40, divided on 1,113,551,382 shares, each with a nominal value of NOK 0.20 per share.

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