NEL ASA: Results for the Third Quarter 2014

Regulatory News:

NEL ASA (OSE:NEL):

Please find enclosed the interim report and presentation for third quarter 2014.

http://mb.cision.com/Public/115/9683467/99160afc3191eecb.pdf

http://mb.cision.com/Public/115/9683467/b25705f3e7f2b2c9.pdf

The report is also available on NEL's webpage: http://www.nel-hydrogen.com/

If you require a printed copy of the report please send your name and address to: info@nel-hydrogen.com

Highlights third quarter 2014

• In September, DiaGenic ASA (the Company) signed a letter of int New NEL Hydrogen Holding AS (NEL Hydrogen).
• The Company reported a net loss of NOK 0.48 million for the quarter.
• At 30 September, the net cash balance was NOK 50.5 million

Key events since third quarter 2014

• On 8 October, the Company acquired 100% of the shares in NEL Hydrogen for a total consideration of NOK 120 million.
• The acquisition represented a change in strategic direction for the Company to include a new business area. The existing pharmaceutical activities of the Company will remain as a separate business area within NEL ASA.
• On 10 October, the Company raised NOK 35 million in gross proceeds through a PrivatePlacement of 53,846,154 new shares, each with a par value of NOK 0.20, at a price of NOK 0.65 per share.
• On 21 October, the Company changed the company name to NEL ASA and the Company was quoted on Oslo Børs with the new name NEL ASA, and new ticker NEL.
• On 5 November, NEL ASA issued 53,846,154 new shares at a subscription price of NOK 0.65 per share in a Rights Issue. The oversubscribed Rights Issue resulted in gross proceeds of approximately NOK 35 million.

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