(Oslo, 17 August 2022) Reference is made to the stock exchange announcement by
Nel ASA (the "Company") on 12 August regarding the issuance of shares in Nel
ASA.

The share capital increase pertaining to the issuance of the 4,452,600 new
shares has now been registered with the Norwegian Register of Business
Enterprises. The Company's new registered share capital is 312,658,220.80,
divided into 1,563,291,104 shares, each with a par value of NOK 0.20.

In addition, Nel ASA has now sold all its shares in Nikola. A total of 1,106,520
shares were sold for a total consideration of about USD 7.5 million. Nel has
reported the holding in Nikola as a financial current asset. The sale does not
in any way influence the good working relationship with Nikola.

ENDS

For further information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02?097

Wilhelm Finder, Head of Investor Relations, +47 936 11 350

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.

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 Finder, Head of Investor
Relations, at NEL ASA on the date and time provided.