Scatec ASA

Scatec ASA - Exercise of employee share options

Oslo, 5 February 2021: Reference is made to the stock exchange notice dated 3

February 2021 regarding exercise of employee share options.

Upon option exercise, the primary insiders below have realised the subscribed

shares.

Raymond Carlsen, Chief Executive Officer, sold 58,951 shares.

Mikkel Tørud, Chief Financial Officer, sold 43,309 shares.

Terje Pilskog, EVP Project Development & Project Finance, sold 38,165 shares.

Torstein Berntsen, EVP Power Production, sold 35,751 shares.

Roar Haugland, EVP Sustainable Business & HSSE, sold 33,710 shares.

Snorre Valdimarsson, EVP General Counsel, sold 34,395 shares.

Pål Helsing, EVP Solutions, sold 20,625 shares.

Toril Haaland, EVP People & Organisation, sold 17,516 shares.

Ingrid Aarsnes, VP Communications & IR, sold 3,524 shares.

All the shares were sold at a price of NOK 314.517 per share.

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

is attached hereto.

For further information, please contact:

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

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 first

half of 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

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