Scatec ASA

Management Reports • Apr 6, 2020

Scatec Solar reorganises its segment reporting structure

Scatec Solar reorganises its segment reporting structure

Oslo, 6 April 2020: As announced in connection with the fourth quarter 2019

financial report, Scatec Solar has reorganised its segment reporting structure

from 1 January 2020. The group's Operations & Maintenance services and Asset

Management services are now being reported combined in the new segment Services.

Earlier, these services were reported in the Operations & Maintenance segment

and as part of the Power Production segment respectively. Revenues in the

Services segment are expected to reach approximately NOK 230 million in 2020

with an EBITDA margin of around 30%. The segment financials for 2019 have been

restated with the new segment reporting structure, which is attached and also

available on the Company's website:https://scatecsolar.com/wp-

content/uploads/sites/2/2020/04/Quarterly-data-2019-restated.xlsx

Segment overview

Development & Construction

The Development & Construction segment derives its revenues from the sale of

development rights and construction services delivered to power plant companies

where Scatec Solar has economic interests.

Power Production

The plants produce electricity for sale under long term power purchase

agreements (PPAs), with state owned utilities or corporate off-takers, or under

government-based feed-in tariff schemes. The average remaining PPA duration for

power plants in operation is 20 years.

Services

The Services segment comprises Operations & Maintenance (O&M) and Asset

Management services provided to solar power plants where Scatec Solar has

economic interests. O&M revenues are generated on the basis of fixed service

fees with additional profit-sharing arrangements. Asset management services

typically include financial reporting to sponsors and lenders, regulatory

compliance, environmental and social management, as well as contract management

on behalf of the power plant companies.

Corporate

Corporate consists of activities of corporate services, management and group

finance.

As announced last week, Scatec Solar will publish its first quarter 2020 results

on Friday 8 May 2020.

For further information, please contact:

Mikkel Tørud, CFO, tel: +47 976 99 144, ir@scatecsolar.com

(mailto:ir@scatecsolar.com)

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

ingrid.aarsnes@scatecsolar.com (mailto:ingrid.aarsnes@scatecsolar.com)

About Scatec Solar

Scatec Solar is an integrated independent solar power producer, delivering

affordable, rapidly deployable and sustainable clean energy worldwide. A long-

term player, Scatec Solar develops, builds, owns, operates and maintains solar

power plants and has an installation track record of more than 1.5 GW. The

company has a total of 1.9 GW in operation and under construction on four

continents.

With an established global presence and a significant project pipeline, the

company is targeting a capacity of 4.5 GW in operation and under construction by

end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the

Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit

www.scatecsolar.com (http://www.scatecsolar.com).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act