Scatec ASA

Scatec ASA - Initiation of a share buyback for Employee Share Purchase Programme

Oslo, 12 May 2021: Scatec ASA ("Scatec" or the "Company") has decided to

initiate a buyback of up to 43,907 of its own shares for a total maximum amount

of NOK 13,172,100. The buyback programme may be carried out in the period from

this announcement and until 20 May 2021.

The purpose of the programme is to acquire shares that can be sold to employees

as part of the Company's Employee Share Purchase Programme as announced in the

stock exchange announcement published 5 May 2021 at 08.00 (CEST) in compliance

with the EU Market Abuse Regulation article 5, and as approved by the General

Meeting of the Company.

The Company has engaged DNB Bank ASA to carry out the buyback. The buybacks will

be made in accordance with the authorisation granted to the Board of Directors

by the Company's Annual General Meeting held on 20 April 2021. According to the

authorisation, up to 830,000 shares may be purchased at a minimum of NOK 1 and a

maximum of NOK 1,000 per share. The authorisation is valid until the Annual

General Meeting in 2022, however no later than 30 June 2022.

All acquisitions under the buyback programme will be executed on Euronext Oslo

Børs. The execution of any repurchases will depend on market conditions, the

buyback programme may be discontinued at any time and the Company may resolve to

terminate the buyback programme before the threshold set out above is reached.

Scatec does not hold any own shares as of the date of this announcement.

For further information, please contact:

Ingrid Aarsnes, VP Communication & IR, tel: +47 950 38 364, email:

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 (http://www.scatec.com), or connect with us

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

This is information is made public by the Company pursuant to the EU Market

Abuse Regulation article 5, as supplemented by Commission Delegated Regulation

(EU) 2016/1052 and is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.

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