Scatec ASA

Scatec ASA - Long term incentive programme

?Oslo, 24 February 2021: Reference is made to the stock exchange notice from 4

January 2021 regarding granting of share options to leading employees. Today, as

part of the same grant, a total of 32,999 share options were granted to leading

employees. Primary insider Jarl Kosberg, who was appointed EVP Hydropower

Project Development from 29 January 2021, was granted a total of 12,854 share

options. As of 24 February 2021, Jarl Kosberg holds a total of 12,854 share

options and no shares in Scatec ASA.

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 314.91 per share,

which is the same as for the options granted 4 January 2021, based on the volume

weighted average share price over the ten last trading days preceding 4 January

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:

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. The company

recently acquired SN Power, a leading hydro power developer and IPP. In first

half of 2021, Scatec will have a total of 3.3 GW in operation on four continents

and 485 employees. 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

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This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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