Reference is made to the stock exchange announcement from NEL ASA (the "Company") on 15 June 2016 regarding the issue of new shares in connection with the Company's incentive scheme.

The share capital increase pertaining to the issuance of the 3,076,926 new shares under the incentive scheme has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 136,735,650.4o, divided on 683,678,252 shares, each with a nominal value of NOK 0.20 per share.

For further information, please contact:

Lars Christian Stugaard

CFO

+47 23 01 49 06 / +47 47 63 05 22

lars.christian.stugaard@nelhydrogen.com

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