Scatec ASA

Remuneration Information • Jan 3, 2024

Scatec ASA: Long term incentive programme

Scatec ASA: Long term incentive programme

Oslo, 3 January 2024: In line with the terms adopted by the Annual General

Meeting of Scatec ASA in 2023, the Board of Directors continue the share-based

incentive programme for leading employees of the company, following the same

principles as previous years. Today, a total of 1,514,263 share options were

granted to leading employees, including the following primary insiders:

Terje Pilskog, CEO: 59,516

Hans Jakob Hegge, CFO: 54,105

Mohamed Amer, EVP Green Hydrogen & Egypt: 31,842

Eliseo Ana, EVP Asia: 41,240

Jan Fourie, EVP Sub-Saharan Africa: 28,053

Roar Haugland, EVP People, Sustainability & Digitalisation: 33,054

Pål Helsing, EVP Solutions: 38,022

Ann-Mari Lillejord, EVP Latin America & Europe: 32,463

Siobhan Minnaar, EVP General Counsel: 30,917

Pål Strøm, EVP Operations & Maintenance: 30,917

Andreas Austrell, VP Investor Relations: 14,045

Each share option gives the right to subscribe for and be allotted one share in

Scatec ASA. The strike price of the options is set to NOK 79.47 per share based

on the volume weighted average share price over the ten last trading days

preceding the grant date of 3 January 2024. The options will lapse if not

exercised by 1 January 2028. The option grant is divided into three tranches

whereby 1/3 vests each year over three years, with the first tranche vesting 1

January 2025. The current grant is the second of three contemplated annual

grants of share options in accordance with Scatec's share-based incentive

programme.

Attached is the notification of the transactions in accordance with the Market

Abuse Regulation Article 19, and an overview of the primary insiders' total

numbers of share options.

For further information, please contact:

Andreas Austrell, VP Investor Relations tel: +47 974 38 686, email:

andreas.austrell@scatec.com

About Scatec

Scatec is a leading renewable energy solutions provider, accelerating access to

reliable and affordable clean energy emerging markets. As a long-term player, we

develop, build, own, and operate renewable energy plants, with 4.3 GW in

operation and under construction across four continents today. We are committed

to grow our renewable energy capacity, delivered by our passionate employees and

partners who are driven by a common vision of 'Improving our Future'. Scatec is

headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the

ticker symbol 'SCATC'. To learn more, visit www.scatec.com

(https://scatec.com/) or connect with us on LinkedIn

(https://www.linkedin.com/company/scatec).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act