Scatec ASA

Major Shareholding Notification • May 12, 2016

SSO - Disclosure of large shareholding by Itochu Corporation

SSO - Disclosure of large shareholding by Itochu Corporation

12 May 2016

Itochu Corporation has sold 9,768,657 shares in Scatec

Solar ASA ("Scatec Solar") in a transaction executed

by Carnegie after close of market yesterday. The

transaction represented approximately 10.4% of the

outstanding shares in Scatec Solar, and was priced at

NOK 34.70 per share.

Following the transaction, Itochu Corporation no

longer hold any shares or rights to shares in Scatec

Solar.

This notification is subject to disclosure pursuant to

the Norwegian Securities Trading Act section 4-3.