Scatec ASA

Scatec ASA: Long term incentive programme

Oslo, 4 January 2022: In line with the terms adopted by the Annual General

Meeting of Scatec ASA in 2021, 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 1,049,596 share options were

granted to leading employees, including the following primary insiders:

Raymond Carlsen, CEO: 43,183

Mikkel Tørud, CFO: 30,345

Torstein Berntsen, EVP Power Production & Asset Management: 26,844

Pål Helsing, EVP Solutions: 26,844

Roar Haugland, EVP Sustainable Business & HSSE: 23,342

Terje Pilskog, EVP Project Development & Project Finance: 29,178

Snorre Valdimarsson, EVP General Counsel: 25,677

Toril Haaland, EVP People & Organisation: 22,175

Jarl Kosberg, EVP Project Development Hydropower: 26,844

Andreas Austrell, VP Investor Relations: 9,946

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 150.79 per share based

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

preceding the grant date of 4 January 2022. The options will lapse if not

exercised by 1 January 2026. The option grant is divided into three tranches

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

January 2023. The current grant is the third of three contemplated annual grants

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

Attached is 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: [email protected]

About Scatec ASA

Scatec is a leading renewable power producer, delivering affordable and clean

energy worldwide. As a long- term player, Scatec develops, builds, owns and

operates solar, wind and hydro power plants and storage solutions. Scatec has

more than 3.5 GW in operation and under construction on four continents and more

than 500 employees. The company is targeting 15 GW capacity in operation or

under construction by the end of 2025. 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 or connect with us on Linkedin

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

This information is subject to the disclosure requirements pursuant to the

Market Abuse Regulation article 19 and section 5-12 of the Norwegian Securities

Trading act.

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