Nel ASA: Receives purchase order from Collins Aerospace for US Navy stacks

(September 29, 2026 - Oslo, Norway) Nel Hydrogen US, a subsidiary of Nel ASA
(Nel, OSE:NEL), has received a new purchase order from Collins Aerospace for PEM
electrolyser stacks. The equipment will be used to generate oxygen for life
-support systems used on US submarines. The purchase order has a value of
approximately USD 12 million.

"We are pleased to receive another order from Collins Aerospace. It extends a
long-standing cooperation built around reliable oxygen generation for demanding
submarine applications," says Nel's Chief Commercial Officer, Todd Cartwright.
"Our Wallingford team has supplied this specialized application over many years.
This order confirms the continued relevance of our PEM technology and
manufacturing capabilities," he says.

The order reflects growing momentum for Nel's technology in defence
applications, where reliability, operational resilience and a long service life
are paramount. In environments where failure is not an option, the continued
trust from Collins Aerospace underscores the company's engineering track record
and confirms Nel's position as a dependable partner for critical life support
systems.

Deliveries are expected to take place throughout 2027 and 2028. The stacks will
be manufactured at Nel's facility in Wallingford, Connecticut.

ENDS


For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, Communications & Marketing +47 936
11 350

About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
technology company with a global presence. The company specializes in PEM and
Alkaline electrolyser technology for production of renewable hydrogen. Nel's
product offerings are key enablers for a green hydrogen economy, making it
possible to decarbonize various industries such as transportation, refining,
steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Wilhelm Flinder, Head of Investor Relations, Communications and Marketing, at
Nel ASA on the date and time provided.
unications and Marketing\, at\
Nel ASA on the date and time provided.\