Scatec ASA

Scatec ASA - Long term incentive programme

Oslo, 6 May 2021: Today, a total of 219,566 share options were granted to

leading employees.

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 244.28 per share,

which is based on the volume weighted average share price over the ten last

trading days preceding 6 May 2021. The options will lapse if not exercised by 1

January 2025. The option grant is divided into three tranches whereby 1/3 vests

each year over three years, with the first tranche vesting 1 January 2022. The

current grant is the second of three contemplated annual grants of share options

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

For further information, please contact:

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

5-12 the Norwegian Securities Trading Act

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