Nel ASA: Commencement of the Subsequent Offering

(Oslo, 5 September 2018) Reference is made to the stock exchange release from
Nel ASA ("Nel" or the "Company") published on 28 June 2018 regarding the
successful completion of a private placement of 90,000,000 new shares in the
Company (the "Private Placement") and the subsequent repair offering of up to
15,000,000 new shares in the Company (the "Subsequent Offering").

In the Subsequent Offering, the Company will, subject to applicable securities
laws, grant rights to subscribe for Offer Shares to shareholders in the Company
as of close of trading on 28 June 2018 as registered in the Norwegian Central
Securities Dep

ository (the "VPS") on 2 July 2018 (the "Record Date") who were not allocated
shares in the Private Placement, and who are not resident in a jurisdiction
where such offering would be unlawful, or would (in jurisdictions other than
Norway) require any prospectus filing, registration or similar action (each such
eligible shareholder an "Eligible Shareholder", and collectively, "Eligible
Shareholders").

The subscription period in the Subsequent Offering commences on 5 September 2018
at 09:00 CET and will end on 18 September 2018 at 16:30 CET (the "Subscription
Period"). The subscription price in the Subsequent Offering is NOK 3.12 per
Offer Share, which is the equal to the subscription price in the Private
Placement.

Eligible Shareholders will be granted 0.01910 Subscription Rights for each share
held. Each Subscription Right will give the right to subscribe for one (1) Offer
Share. The Subscription Rights will not be tradable or listed on the Oslo Stock
Exchange. Oversubscription is permitted. While there can be no assurance of the
number of shares that will be available for allocation pursuant to over
-subscription, the number of non-eligible shareholders as per the Record Date
indicates that the number of shares available for over-subscription is likely
higher than normal. Subscription without Subscription Rights will not be
permitted.

In order to subscribe for shares, one of the Managers must receive a complete
and duly signed subscription form within the end of the Subscription Period.
Further instructions regarding the subscription procedure is available in the
Prospectus. Subscription Rights not used to subscribe for Offer Shares prior to
16:30 CET on 18 September 2018 will lapse without compensations to the holder
and consequently be of no value.

Notifications of allocation in the Subsequent Offering are expected to be issued
on or about 19 September 2018. The due date for payment of allocated Offer
Shares is 21 September 2018 (the "Payment Due Date"). Delivery of the Offer
Shares to investors' VPS accounts is expected to take place on or about 26
September 2018.

A prospectus dated 4 September 2018 (the "Prospectus") prepared in connection
with the Subsequent Offering will be available electronically at
www.nelhydrogen.com, https://www.arctic.com/secno and www.carnegie.no, or by
contacting Arctic Securities or Carnegie (the "Managers").

Arctic Securities and Carnegie acted as joint bookrunners in the Private
Placement and the Subsequent Offering. Advokatfirmaet Schjødt AS acted as
Norwegian legal counsel to the Company.

ENDS
For additional information, please contact:
Jon André Løkke, CEO, +47 9074 4949
Bent Skisaker, CFO, +47 468 21 693