Scatec ASA — Major Shareholding Notification 2015

Feb 12, 2015

SSO - Disclosure of large shareholding and mandatory notification of trade

SSO - Disclosure of large shareholding and mandatory notification of trade

12 February, 2015

Reference is made to the stock exchange release dated

11 February 2015 regarding a contemplated sale of

shares in Scatec Solar ASA ("Scatec Solar" or

the "Company").

Itochu Corporation ("Itochu") has today sold

2,500,000 shares in Scatec Solar at a price of NOK

29.50 per share. The shares were placed after close

of markets 11 February 2015 through an accelerated

bookbuilding process managed by ABG Sundal Collier

Norge ASA and Carnegie AS.

Itochu now holds 17,768,657 shares in Scatec Solar,

representing 18.94% of the outstanding shares in the

Company. As a consequence of the transaction Itochu's

holding of Scatec Solar shares has fallen below the

threshold of 20 percent of the outstanding share

capital, cf. the Securities Trading Act section 4-3.

The percentage has been calculated based on

93,816,230 issued shares in Scatec Solar.

Itochu is represented on the Board of Directors in

the Company by Akihiko Nakazono. This notification is

subject to disclosure pursuant to the Norwegian

Securities Trading Act section 4-2 and 4-3.