Nel ASA: Last day of subscription period in the Subsequent Offering

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, 21 September 2020) Reference is made to the stock exchange announcement
by Nel ASA ("Nel" or the "Company") on 10 September 2020, regarding the
commencement of a subsequent offering of up to 10,840,109 new shares (the "Offer
Shares") (the "Subsequent Offering").

The subscription period for the Subsequent Offering will expire today, 21
September 2020, at 16:30 hours (CEST). The Subscription Rights may be used to
subscribe for Offer Shares in the Subscription Period and before the expiry of
the Subscription Period on 21 September 2020 at 16:30 hours (CEST). Subscription
Rights that are not used to subscribe for Offer Shares before 16:30 hours (CEST)
on 21 September 2020 will have no value and will lapse without compensation to
the holder.

For more information regarding the Subsequent Offering, please refer to the
Company's prospectus dated 9 September 2020 (the "Prospectus"). The Prospectus
is available electronically at www.nelhydrogen.com, www.arctic.com,
www.carnegie.no and www.sb1markets.no, or by contacting Arctic Securities AS,
Carnegie AS or SpareBank 1 Markets AS.

Carnegie AS, Arctic Securities AS and SpareBank 1 Markets AS act as managers in
the Subsequent Offering (the "Managers"). Advokatfirmaet Schjødt AS acts as
Norwegian legal counsel to Nel.

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, Nel ASA, [phone]

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to
produce, store, and distribute hydrogen from renewable energy. We serve
industries, energy, and gas companies with leading hydrogen technology. Our
roots date back to 1927, and since then, we have had a proud history of
development and continuous improvement of hydrogen technologies. Today, our
solutions cover the entire value chain: from hydrogen production technologies to
hydrogen fueling stations, enabling industries to transition to green hydrogen,
and providing fuel cell electric vehicles with the same fast fueling and long
range as fossil-fueled vehicles - without the emissions.

Important Notices

This document is not an offer to sell or a solicitation of offers to purchase or
subscribe for shares. Copies of this document may not be sent to jurisdictions,
or distributed in or sent from jurisdictions, in which this is barred or
prohibited by law. The information contained herein shall not constitute an
offer to sell or the solicitation of an offer to buy, in any jurisdiction in
which such offer or solicitation would be unlawful absent registration, or an
exemption from registration or qualification under the securities laws of any
jurisdiction.

This document is not for publication or distribution in, directly or indirectly,
Australia, Canada, Japan, the United States or any other jurisdiction in which
such release, publication or distribution would be unlawful, and it does not
constitute an offer or invitation to subscribe for or purchase any securities in
such countries or in any other jurisdiction. In particular, the document and the
information contained herein should not be distributed or otherwise transmitted
into the United States or to publications with a general circulation in the
United States of America.

This document is not an offer for sale of securities in the United States.
Securities may not be offered or sold in the United States absent registration
with the United States Securities and Exchange Commission or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "Securities
Act"). The Company does not intend to register any part of the offering in the
United States or to conduct a public offering in the United States of the shares
to which this document relates.

The Managers are acting for the Company in connection with the Private Placement
and no one else and will not be responsible to anyone other than the Company for
providing the protections afforded to their respective clients or for providing
advice in relation to the Private Placement or any transaction or arrangement
referred to in this press release.

This announcement and any materials distributed in connection with this
announcement may contain certain forward-looking statements. By their nature,
forward-looking statements involve risk and uncertainty because they reflect
Nel's current expectations and assumptions as to future events and circumstances
that may not prove accurate. A number of material factors could cause actual
results and developments to differ materially from those expressed or implied by
these forward-looking statements. This information is subject to a duty of
disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act.

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