Scatec ASA

Share Issue/Capital Change • Feb 5, 2018

Scatec Solar ASA: Exercise of employee share options and share capital increase

Scatec Solar ASA: Exercise of employee share options and share capital increase

Oslo, February 5, 2018: The Board of Directors of Scatec Solar ASA ("Scatec

Solar") has resolved to issue 216,202 shares to key employees following exercise

of employee share options, pursuant to the company's share option program

established in 2016.

Through share option exercise, Scatec Solar is increasing the number of shares

by 0,2% to 103,412,432.

Upon exercise, all primary insiders are utilising the after-tax gain from the

option program to buy new shares. This implies that some shares are sold to fund

the tax on the options gain as is customary when exercising share options.

Exercise of options by primary insiders:

Raymond Carlsen, Chief Executive Officer, has exercised options for 38,775

shares.

Terje Pilskog, EVP Project Development & Project Finance, has exercised options

for 25,979 shares.

Roar Haugland, EVP Business Development has exercised options for 22,420 shares.

Mikkel Tørud, Chief Financial Officer has exercised options for 29,843 shares.

Torstein Berntsen, EVP Power Production & Asset Management has exercised options

for 24,636 shares.

Snorre Valdimarsson, EVP General Counsel has exercised options for 22,420

shares.

The primary insiders mentioned above transferred their rights to receive shares

resulting from the exercise of options to a third party. The sales amount will

be finally determined on the basis of the price subsequently obtained by the

third party in the market. The results of the sales process and final number of

new shares for primary insides will be announced in a sperate stock exchange

notice when known.

Primary insider holdings after the option exercise, but before completing sales

and purchases of shares:

Raymond Carlsen holds: (i) 2,794,535 shares in Scatec Solar through Argentos AS,

(ii) 77,551 unexercised options at a strike price of NOK 28.86, (iii) 76,098

unexercised options at a strike price of NOK 48.43.

Terje Pilskog holds: (i) 515,247 shares in Scatec Solar through Océmar AS, (ii)

51,959 unexercised options at a strike price of NOK 28.86, (iii) 48,601

unexercised options at a strike price of NOK 48.43.

Roar Haugland holds: (i) 258,155 shares in Scatec Solar through Buzz Aldrin AS,

(ii) 24,841 unexercised options at a strike price of NOK 28.86, (iii) 43,579

unexercised options at a strike price of NOK 48.43.

Mikkel Tørud holds: (i) 308,283 shares in Scatec Solar, (ii) 59,686 unexercised

options at a strike price of NOK 28.86, (iii) 55,831 unexercised options at a

strike price of NOK 48.43.

Torstein Berntsen and associated parties holds: (i) 703,140 shares in Scatec

Solar, (ii) 49,272 unexercised options at a strike price of NOK 28.86, (iii)

46,090 unexercised options at a strike price of NOK 48.43.

Snorre Valdimarsson holds: (i) 22,640 shares in Scatec Solar, (ii)  44,841

unexercised options at a strike price of NOK 28.86, (iii) 43,579 unexercised

options at a strike price of NOK 48.43.

All options granted to primary insiders as mentioned above are granted in

accordance with the company's share option program established in 2016, as

described in the company's annual financial statements for 2016. Please also

refer to the announcements made by the company on 6 October 2016 and 3 January

2018 for additional details regarding options held by primary insiders.

Share capital after the option exercise:

Scatec Solar's share capital will be increased with NOK 5,405.05, by issuing

216,202 new shares at a subscription price of NOK 28.86. Following completion of

the share capital increase, the company's share capital will be NOK

2,585,310.80 divided on 103,412,432 shares, each with a nominal value of

NOK 0.025.

For further information, please contact:

Mr. Mikkel Tørud, CFO, tel: +47 976 99 144, mikkel.torud@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 1000 MW.

The company is producing electricity from 322 MW of solar power plants in the

Czech Republic, South Africa, Rwanda, Honduras and Jordan and another 394 MW are

under construction.

With an established global presence, the company is growing briskly with a

project backlog and pipeline of 1.5 GW under development in the Americas,

Africa, Asia and the Middle East. 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.

This information is subject to disclosure pursuant to section 4-2 of the

Norwegian Securities Act and the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.