Nel ASA: Håkon Volldal resigns as CEO

(June 15, 2026 - Oslo, Norway) Nel ASA (Nel, OSE: NEL) Håkon Volldal has decided to step down as President & Chief Executive Officer of Nel ASA to pursue another professional opportunity.

Mr. Volldal has a six-month notice period and will continue in his role while the search for his successor is conducted. The Board of Directors has initiated the process to recruit a new CEO.

Chair of the Board, Arvid Moss, comments: "Since joining the company in July 2022, Mr. Volldal has played an important role in shaping Nel's strategy, renewing the product portfolio, strengthening the organization and leadership team, and building strategic partnerships with some of the world's leading companies in the industry. The Board would like to thank him for his strong contributions during his tenure and wish him the best of luck with the next step in his career. Furthermore, the Board would like to emphasize that Nel's strategic direction and top priorities remain unchanged."

Håkon Volldal says: "I am grateful for the opportunity I have had to serve as Nel's President & CEO and would like to thank the Board of Directors and my colleagues for their continued support during an eventful four-year period. Although my new job will be in a different industry, I continue to be a strong supporter of clean hydrogen in general and of Nel in particular. Electrolytic hydrogen is essential for decarbonizing industry/transportation and for building stable and resilient energy systems. Nel's long track record of delivering reliable electrolyzers in combination with its ability to innovate and develop new solutions, for example the recently launched pressurized alkaline system, put the company at the forefront of the hydrogen industry. I am committed to ensuring a smooth transition for the company."

ENDS

For additional information, please contact: Kjell Christian Bjørnsen, CFO, +47 917 02?097 Wilhelm Flinder, Head of IR, Communications and 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.