Scatec ASA

Regulatory Filings • Sep 29, 2022

Scatec sharpens strategy and sets course to capture value in green transition

Scatec sharpens strategy and sets course to capture value in green transition

Oslo, 29 September 2022 -Today Scatec ASA's leaders will present the details of

the company's sharpened strategy to the capital markets. Scatec will continue to

develop, build, own and operate renewable energy in emerging markets and secure

long-term, profitable, and sustainable growth in the strategy period towards

2027. Scatec is outlining three primary focus areas for the coming years,

including financial ambitions and targets.

Grow renewables, advance green hydrogen, and optimise portfolio

* Scatec will continue to grow its renewables business, including solar, wind

and hydro, by building scale in selected focus markets to improve

predictability and value creation.

* Scatec will build on its core strengths to take a leadership role in green

hydrogen by developing prime locations in emerging markets, securing long-

term offtake, and funding, and applying the integrated business model.

* Scatec will optimise its portfolio, by simplifying and consolidating,

capturing additional value in power markets, and scaling and launching

Release as an independent platform.

"Scatec is a growth company with a solid track record and ambitious targets. We

aim to be a leader in developing, owning, and operating renewable energy and

green hydrogen across our focus markets.??It is in our DNA to continually seize

new opportunities. We now do so with a more focused approach and by maintaining

a clear intention to create value," says CEO Terje Pilskog.

Scatec focuses on key strategic growth markets

Scatec aims to build a strong and long-term position in specific focus markets,

where most of the company's capital and resources will be spend. Those markets

are South Africa, Brazil, the Philippines, Hydro-Africa, Egypt, India, and

Poland. Here, Scatec will focus on larger projects, while maintaining an

opportunistic approach to other projects (outside of these markets), with clear

guidelines on types of projects, size, and means of value creation.

Financial targets and ambitions

Scatec targets to invest NOK 10 billion of equity in new power plants towards

2027 adding NOK 3 billion in annual Proportionate Power Production EBITDA. This

investment target corresponds to an average gross new capacity of 1.5 GW

annually. The company has a solid financial platform for growth, including a

diversified asset portfolio, prudent financial risk management, continued focus

on cost discipline, and solid cash flow.

"We are setting up our company to be consistently at its strongest," adds

Pilskog. "At Scatec, we pride ourselves on being a team of changemakers who are

always driving results and ready to capture opportunities as they emerge by

working together. This is what defines us. Our long-term vision is to improve

the future, and that works starts with our key strategic actions towards 2027."

Jump into Scatec's strategic journey towards 2027 here

(https://scatec.com/about/strategy/).

A presentation of the strategy update, followed by a Q&A session will be held at

House of Oslo (the auditorium), Ruseløkkveien 34, 0251 Oslo from 09:00 am CEST

to ca. 10:30 am CEST. The presentation and Q&A session can be followed through a

live webcast, here: CMU webcast

(https://www.globenewswire.com/Tracker?data=gBxk1ADWwBOgKMCK_voK7dP92QpHAf3jfQYu

jTCiwOwPZdwqo1w-uKoCeC9gJhQpFwHXpeNqNZW-dxOitR4olyuYBSQZAZqpTS89p_-

50gvlryGJj8e6NmTGJwmL-t6mLCpdVGfpXu80cf3xWPUNdQ==).

If you are joining via the webcast and would like to ask a question during the

Q&A session, please use the following dial-in details:

PIN Code for all countries: 554078

NO: +47-21-956342

SE: +46-4-0682-0620

UK: +44-203-7696819

US: +1 646-787-0157

For more international numbers, please contact us on contact@livehouseeurope.com

(mailto:contact@livehouseeurope.com)

For further information, please contact:

For analysts and investors: Andreas Austrell, VP IR, tel: +47 974 38 86,

andreas.austrell@scatec.com

(https://www.globenewswire.com/Tracker?data=Ce6pH14xQH6G-

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za92xPtsFM0ZgvUxR2kSaoKOzViWNkW2TRy65fEYXvYGH7WiKDXSiznzV8LtDQXNZ)

For media: Meera Bhatia, SVP Communications, tel: +47 46 84 49 59,

meera.bhatia@scatec.com (https://www.globenewswire.com/Tracker?data=kqsOuLTEoS-

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About Scatec

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

reliable and affordable clean energy in high growth markets. As a long-term

player, we develop, build, own and operate renewable energy plants, with 4.6 GW

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

committed to grow our renewable energy capacity, delivered by our 700 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://www.globenewswire.com/Tracker?data=H_v-

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eAy7yZvMkTHDcge_ZishV8ikn_9XOHAEsvcPHMFYi7lmk7TA=)?or connect with us

on?LinkedIn

(https://www.globenewswire.com/Tracker?data=ngxGGACeEyq7JVRbsn_IfaPJ6rLQGffGuRpn

Lt4tKK6YcnQy_iNiFGfu_F9FFNqDw296Rqr0M4HmPs8yVfEQ5rmCCB5e4hM9K4po8DRxaXo=).

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Kine Aaltvedt, Communication &

IR Coordinator at Scatec ASA, on 29 September 2022 at 07:00 CEST