**Hakon Volldal, Chief Executive Officer**
Good morning from Oslo. We are ready to announce Nel’s Third Quarter 2025 Results Presentation.
My name is Hakon Volldal, and I am the CEO of Nel. With me today, I have our CFO, Kjell Christian Bjornsen, as well as Wilhelm Flinder, our Head of IR, Communication, and Marketing.
We have the following agenda for today’s presentation:
– Nel in brief
– Highlights from the third quarter
– A short commercial update
– A short political update
– A short technology update
As always, we will end the session with a Q&A segment, aiming to provide clear answers to your questions.
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### Nel in Brief
Nel is a fully dedicated electrolyzer technology company that has been listed on the Oslo Stock Exchange since 2014. Since our founding in 1927, we have sold more than 7,000 electrolyzer stacks worldwide, now reaching over 80 countries.
Our current manufacturing capacity stands at 1.5 gigawatts, including 1 gigawatt in Norway and 0.5 gigawatts in the U.S. for PEM electrolyzers. We currently employ approximately 350 people globally.
At present, we are investing heavily in research and development to create next-generation platforms that will drive the future of the hydrogen industry. Our global sales and office network supports our collaborations with industry leaders such as Samsung, Reliance, and General Motors.
Financially, Nel remains strong with NOK 1.8 billion in cash reserves.
Our value proposition is built on our long track record and what we call an unrivaled expertise in electrolyzer technology.
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We look forward to sharing more details throughout the presentation and engaging with your questions at the end.
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