Scatec ASA

M&A Activity • Jan 18, 2021

Scatec ASA receives regulatory approvals related to acquisition of SN Power

Scatec ASA receives regulatory approvals related to acquisition of SN Power

Oslo, 17 January 2021: Reference is made to the stock exchange release on 16

October 2020 where Scatec ASA announced the acquisition of SN Power from

Norfund. Scatec has now received all necessary regulatory and local competition

approvals, and the company expects to close the transaction in first quarter

For further information, please contact:

Ingrid Aarsnes, VP Communication & IR,

tel: +47 950 38 64, ingrid.aarsnes@scatec.com

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About Scatec ASA:

Scatec is a leading renewable power producer, delivering affordable and clean

energy worldwide. As a long- term player, Scatec develops, builds and operates

renewable power plants and integrates technologies. In 2021, the company will

have a total of 1.9 GW in operation on four continents. In October 2020, Scatec

announced the acquisition of SN Power, a leading hydropower developer and IPP.

Closing of the transaction is expected in first quarter 2021. 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

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This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act