Scatec ASA

Scatec ASA: Long term incentive programme

Oslo, 4 January 2021: In line with the terms adopted by the Annual General

Meeting of Scatec ASA in 2020, 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 251,242 share options were

granted to leading employees, including the following primary insiders:

Raymond Carlsen, CEO: 18,163

Mikkel Tørud, CFO: 12,986

Torstein Berntsen, EVP Power Production & Asset Management: 10,721

Pål Helsing, EVP Solutions: 10,845

Roar Haugland, EVP Sustainable Business & HSSE: 10,087

Terje Pilskog, EVP Project Development & Project Finance: 11,814

Snorre Valdimarsson, EVP General Counsel: 10,730

Toril Haaland, EVP People & Organisation: 9,210

Ingrid Aarsnes, VP Communication & IR: 3,912

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 based

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

preceding the grant date of 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.

Attached is an overview of the primary insiders' total numbers of share options.

For further information, please contact:

Ingrid Aarsnes, Communication & IR

tel: +47 950 38 364, email: [email protected]

About Scatec ASA

Scatec is a leading integrated independent renewable power producer, delivering

affordable, rapidly deployable and sustainable clean energy worldwide. A long-

term player, Scatec develops, builds, owns, operates and maintains power plants

and has an installation track record of more than 1.6 GW. The company has a

total of 1.9 GW in operation and under construction on four continents.

With an established global presence and a significant project pipeline, the

company is targeting a capacity of 4.5 GW in operation and under construction by

end of 2021. Scatec is headquartered in Oslo, Norway and listed on the Oslo

Stock Exchange under the ticker symbol 'SSO'.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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