Scatec ASA

Share Issue/Capital Change • Jan 30, 2020

Scatec Solar ASA - Exercise of employee share options and share capital increase

Scatec Solar ASA - Exercise of employee share options and share capital increase

Oslo, 30 January 2020: The Board of Directors of Scatec Solar ASA ("Scatec

Solar") has resolved to issue 554,517 shares to key employees following exercise

of employee share options, pursuant to the company's share option programme

established in 2016.

Through the share option exercise, Scatec Solar is increasing the number of

shares by 0.443% to 125,683,189.

As part of exercising the share options, all primary insiders are realising the

relevant shares after subscription, as is customary when exercising share

options.

Exercise of options by primary insiders:

Raymond Carlsen, Chief Executive Officer, has exercised options for 81,623

shares.

Mikkel Tørud, Chief Financial Officer, has exercised options for 61,278 shares.

Terje Pilskog, EVP Project Development & Project Finance, has exercised options

for 53,345 shares.

Torstein Berntsen, EVP Power Production & Asset Management, har exercised

options for 50,587 shares.

Roar Haugland, EVP Sustainable Business & HSSE, has exercised options for

46,909 shares.

Snorre Valdimarsson, EVP General Counsel, has exercised options for 47,007

shares.

Pål Helsing, EVP Solutions, has exercised options for 10,710 shares.

Toril Haaland, EVP People & Organisation, has exercised options for 9,096

shares.

The primary insiders mentioned above have transferred their rights to receive

shares resulting from the exercise of options to a third party. The sales amount

will be finally determined on the basis of the price subsequently obtained by

the third party in the market. The results of the sales process will be

announced in a separate stock exchange notice when known.

An overview of shares and options held by these primary insiders after the share

subscription, but before the sale of the shares, is attached hereto, together

with an overview of the strike prices for the shares subscribed by the primary

insiders.

All options granted to primary insiders as mentioned above are granted in

accordance with the company's share option program established in 2016, as

described in the company's annual financial statements for 2017. Please also

refer to the announcements made by the company on 6 October 2016, 3 January

2018, 3 January 2019 and 2 January 2020 for additional details regarding options

held by primary insiders.

Share capital after the option exercise:

Scatec Solar's share capital will be increased with NOK 13,862.93 by issuing

222,553 new shares at a subscription price of NOK 28.08, 169,086 new shares at a

subscription price of NOK 47.65 and 162,878 new shares at a subscription price

of NOK 72.03. Following completion of the share capital increase, the company's

share capital will be NOK 3,142,079.73 divided on 125,683,189 shares, each with

a nominal value of NOK 0.025.

For further information, please contact:

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

ingrid.aarsnes@scatecsolar.com (mailto:ingrid.aarsnes@scatecsolar.com)

About Scatec Solar

Scatec Solar is an integrated independent solar power producer, delivering

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

term player, Scatec Solar develops, builds, owns, operates and maintains solar

power plants and has an installation track record of more than 1.3 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 Solar is headquartered in Oslo, Norway and listed on the

Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit

www.scatecsolar.com (http://www.scatecsolar.com).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act