Scatec ASA

Share Issue/Capital Change • Feb 1, 2019

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, 1 February 2019: the board of directors of Scatec Solar ASA ("Scatec

Solar") has resolved to issue 341,240 shares to key employees following exercise

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

established in 2016.

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

shares by 0.003% to 113,753,672.

In connection with the company's share option program, Scatec Solar has on 1

February 2019 resolved to purchase up to 20,000 own shares. The shares will be

used for settlement under the share option program.

Upon exercise, all primary insiders are utilising at least 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 64,141

shares.

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

for 42,179 shares.

Roar Haugland, EVP Sustainable Business & HSSE has exercised options for 36,946

shares.

Mikkel Tørud, Chief Financial Officer has exercised options for 48,453 shares.

Snorre Valdimarsson, EVP General Counsel has exercised options for 36,946

shares.

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

for 39,999 shares.

The primary insiders mentioned above have 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 separate stock exchange

notice when known.

An overview of shares and options held by primary insiders after the exercise,

but before any purchase of shares in relation to the option exercise, is

attached hereto.

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 2017. Please also

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

2018 and 3 January 2019 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 8,531 by issuing

216,203 new shares each at a subscription price of NOK 28.08 and 125,037 new

shares at a subscription price of NOK 47.65. Following completion of the share

capital increase, the company's share capital will be NOK 2,843,841.80 divided

on 113,753,672 shares, each with a nominal value of NOK 0.025.

For further information, please contact:

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

ingrid.aarsnes@scatecsolar.com

(https://www.globenewswire.com/Tracker?data=O8ovLzG217fs52E24NXUXa09LLYhI_EWpLVo

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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 GW. The company

has a total of 1.7 GW in operation and under construction in Argentina, Brazil,

the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South

Africa and Ukraine.

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

company is targeting a capacity of 3.5 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

Attachment

* Overview of shares and options held by primary insiders per 01022019

(https://ml-eu.globenewswire.com/Resource/Download/117a6388-6ad6-44be-9c20-

b9d7c47ced7b)