Scatec ASA — Earnings Release 2025

Jan 30, 2026

Scatec fourth quarter 2025: Growth continues

Scatec fourth quarter 2025: Growth continues

Oslo, 30 January 2026: In the fourth quarter, Scatec continued to progress its

near-term growth portfolio, which is now at an all-time-high. Proportionate

revenues increased by 25% to NOK 3,362 million (2,684 million), and EBITDA was

NOK 1,065 million (1,375 million).

The Development & Construction (D&C) segment reported revenues of NOK 2,266

million (1,038 million), a gross margin of 14%, and EBITDA of NOK 251 million,

driven by strong construction progress on Obelisk in Egypt and Mogobe BESS in

South Africa.

Power production revenues were NOK 1,079 million (1,625 million) and EBITDA

NOK 842 million (1,352 million). The change is mainly driven by divestments

made in 2024 and 2025. Total power production from Scatec's power plants was

1,017 GWh (1,138 GWh). For the full year, Scatec reported proportionate

revenues of NOK 11,002 million (7,853 million), with an EBITDA of NOK 4,635

million (4,694 million).

"We continue to deliver on our strategy, combining rapid and disciplined

growth with a strengthened financial position. During the quarter we saw

strong progress across our development and construction portfolio and also

extended our maturity profile of our corporate debt. Importantly, liquidity

remains strong and improved compared to last quarter, reinforcing our ability

to execute self-funded growth and create long-term shareholder value," says

Scatec CEO Terje Pilskog.

Scatec reached several important milestones for the growth portfolio during

the quarter, while improving the financial position:

* In the Philippines, Scatec was awarded a 68MW floating solar project through

a public auction.

* In South Africa and Botswana, Scatec reached Commercial Operation Date (COD)

for the Grootfontein and Mmadinare Solar Power Plants.

* In Egypt, Scatec signed two equity partners for the Obelisk project, while

continuing construction at a record pace.

* In Oslo, Scatec repaid a corporate term loan with proceeds from a new bond

issue, further extending the maturity profile. Corporate net interest

bearing debt was reduced to NOK 3.4 billion, also positively affected by

strong cash generation in the quarter.

Fourth quarter consolidated revenues and other income were NOK 1,028 million

(1,153 million), EBITDA was NOK 697 million (816 million), and net profit was

NOK -28 million (-101 million).

For the full year, consolidated revenues and other income was NOK 5,238

million (6,574 million), EBITDA was NOK 4,013 million (5,421 million), and the

net profit was NOK 1,054 million (1,486 million).

"Our achievements in 2025 are a testament to Scatec's mission: to deliver

clean, affordable energy across markets worldwide. As we move into 2026, we

are well-positioned to capitalise on new opportunities, pursue innovation, and

scale up our impact on the global transition to renewable energy," says Scatec

CEO Terje Pilskog.

Outlook

* Full year 2026 proportionate power production of 5.2 to 5.6 TWh

* Full year 2026 proportionate EBITDA from power production of NOK 3,800 to

4,100 million

* Remaining D&C contract value of NOK 1.8 billion for projects under

construction

* Estimated gross margin for projects under construction between 10% and 12%

Additional information

Historical financial information on a country-by-country level and the

factsheet can be found under "databook" in the report library on the Scatec

webpage: https://www.scatec.com/en/investors/reports-presentations/

A presentation of the fourth quarter results followed by a Q&A session, will

be held at Scatec's headquarters at Skøyen Atrium III (1st floor), Askekroken

11, 0277 Oslo, today at 09:00 am CET. You can also follow the presentation and

Q&A session through this link: Scatec webcast Q4 2025

(https://qcnl.tv/p/UoSCwysaxQWFlr8ywVWxZA)

For further information, please contact:

For analysts and investors:

Andreas Austrell, SVP Investor Relations

andreas.austrell@scatec.com

+47 974 38 686

For media:

Meera Bhatia, SVP External Affairs & Communications

meera.bhatia@scatec.com

+47 468 44 959

About Scatec

Scatec is a leading renewable energy solutions provider, accelerating access

to reliable and affordable clean energy in emerging markets. As a long-term

player, we develop, build, own, and operate renewable energy plants, with 6.2

GW in operation and under construction across five continents today. We are

committed to grow our renewable energy capacity, delivered by our passionate

employees and partners who are driven by a common vision of Improving our

Future'. 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

or connect with us on LinkedIn.

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication, through the

agency of the contact persons set out above, at 2026-01-30 07:00 CET.