Scatec ASA

Capital/Financing Update • Feb 16, 2021

Scatec ASA - Exercise of call option for ISIN NO0010809684

Scatec ASA - Exercise of call option for ISIN NO0010809684

To the bondholders in:

ISIN: NO0010809684

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

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.

See attachment for further details.

For further information, please contact:

Mikkel Tørud, CFO, tel: +47 976 99 144, ir@scatec.com (mailto:ir@scatec.com)

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 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

(https://scatec.com/), or connect with us on Linkedin

(https://www.linkedin.com/company/scatec).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act