Scatec ASA

Scatec ASA: Proposed authorisation to the Board of Directors to increase the share capital of the Company

Oslo, 30 March 2022: The Board of Directors of Scatec ASA (the "Company") has

proposed that the Annual General Meeting grants an authorisation to the Board of

Directors to increase the share capital of the Company by:

i. up to NOK 397,293 (approximately 10% of the share capital of the Company)

for the purpose of strengthening of the Company's equity and the issuance

of consideration shares in connection with acquisitions of businesses

within the Company's purpose, and

ii. up to NOK 28,275.1 in connection with the Company's share incentive

programme for employees.

The board has proposed that the authorisations shall be valid until the Annual

General meeting to be held in 2023. The proposed authorisations will be on the

agenda for the Company's Annual General Meeting to be held on 29 April 2022.

For further information, please contact:

Andreas Austrell, VP Investor Relations

Tel: +47 974 38 686, email: [email protected]

About Scatec:

Scatec is a leading provider of renewable energy solutions, that is 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

which currently have 3.5 GW of installed capacity in four continents. We are

targeting 15 GW renewable capacity to be in operation or under construction by

the end of 2025, delivered by our 600 passionate employees who are driven by a

common vision: 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 (http://www.scatec.com) or connect with us on

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

This information is subject to the disclosure requirements pursuant to the

Issuer Rules.

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