Remuneration guidelines

These guidelines regarding remuneration to the executive management have been prepared by the board of directors of Nel ASA ("Nel" or the "Company") in accordance with the Norwegian Public Limited Liability Companies Act Section 6-16a and related regulations. The Act prescribes that the guidelines shall also include guidelines for remuneration to the board. These guidelines apply generally to executive management, and apply to the Board only where specifically stated. The guidelines have been prepared for approval by the Company's Annual General Meeting (AGM) in 2025, and will apply until the Company's annual general meeting in 2029, unless amended or replaced earlier.