Scatec ASA

Remuneration Information • Jan 3, 2023

Scatec ASA: Long term incentive programme

Scatec ASA: Long term incentive programme

Oslo, 3 January 2023: In line with the terms adopted by the Annual General

Meeting of Scatec ASA in 2022, the Board of Directors continue the share-based

incentive programme for leading employees of the company, following the same

principles as previous years. Today, a total of 1,499,680 share options were

granted to leading employees, including the following primary insiders:

Terje Pilskog, CEO: 56,643

Mikkel Tørud, CFO: 40,921

Eliseo Ana, EVP Asia: 33,865

Torstein Berntsen, EVP Green Hydrogen & MENA (Interim): 36,206

Kate Bragg, EVP People, Strategy & Digital: 29,087

Jan Fourie, EVP Sub-Saharan Africa: 27,434

Roar Haugland, EVP Sustainability, HSSE & Quality: 31,475

Pål Helsing, EVP Solutions: 36,206

Ann-Mari Lillejord, EVP Latin America & Europe: 29,087

Pål Strøm, EVP Operations & Maintenance: 29,087

Andreas Austrell, VP Investor Relations: 13,374

Each share option gives the right to subscribe for and be allotted one share in

Scatec ASA. The strike price of the options is set to NOK 80.25 per share based

on the volume weighted average share price over the ten last trading days

preceding the grant date of 3 January 2023. The options will lapse if not

exercised by 1 January 2027. The option grant is divided into three tranches

whereby 1/3 vests each year over three years, with the first tranche vesting 1

January 2024. The current grant is the first of three contemplated annual grants

of share options in accordance with Scatec's share-based incentive programme.

Attached is the notification of the transactions in accordance with the Market

Abuse Regulation Article 19, and an overview of the primary insiders' total

numbers of share options.

For further information, please contact:

Andreas Austrell, VP Investor Relations

tel: +47 974 38 686, email: andreas.austrell@scatec.com

(mailto:andreas.austrell@scatec.com)

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 4.6 GW in

operation and under construction across four continents today. We are committed

to grow our renewable energy capacity, delivered by our 700 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

(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