Scatec ASA

Capital/Financing Update • Feb 16, 2021

Denne melding til obligasjonseierne er kun utarbeidet på engelsk. For informasjon vennligst kontakt Nordic Trustee AS.

To the bondholders in:

ISIN: NO0010809684 - Scatec Solar ASA FRN senior unsecured NOK 1,000,000,000 bonds 2017/2021

Oslo, 16 February 2021

Exercise of call option

Nordic Trustee AS (the "Bond Trustee") acts as bond trustee for the Bondholders in the above mentioned bond issue (the "Bond Issue") where Scatec ASA (previously Scatec Solar ASA) is the issuer (the "Issuer"). All capitalized terms used herein shall have the meaning assigned to them in the bond terms dated 9 November 2017 (the "Bond Terms").

The Issuer notified the Bond Trustee on 11 February 2021 that it wants to redeem the Bonds (in whole) in accordance with paragraph a), item ii) of Clause 10.2 of the Bond Terms.

The payment will be carried out as follows:

Redemption Amount:	Total outstanding amount, being NOK 750,000,000.-
Redemption price:	101.5 % plus accrued and unpaid interest
Record Date:	26 February 2021 (end of business)
Settlement Date:	2 March 2021

Yours sincerely Nordic Trustee AS Vivian Trøsch