Scatec ASA

Scatec ASA: Initiation of a share buyback for Employee Share Purchase Programme

Oslo, 10 June 2024: Scatec ASA ("Scatec" or the "Company") has decided to

initiate a buyback of up to 50,162 of its own shares for a total maximum amount

of NOK 6,484,000. The buyback programme may be carried out in the period from

this announcement and until 14 June 2024.

The purpose of the programme is to acquire shares that can be sold to employees

as part of the Company's Employee Share Purchase Programme as announced in the

stock exchange announcement published 3 June 2024 at 08.00 (CEST) in compliance

with the EU Market Abuse Regulation article 5, and as approved by the General

Meeting of the Company.

The Company has engaged DNB Bank ASA to carry out the buyback. The buybacks will

be made in accordance with the authorisation granted to the Board of Directors

by the Company's Annual General Meeting held on 18 April 2024. According to the

authorisation, up to 2,801,451 shares may be purchased at a minimum of NOK 1 and

a maximum of NOK 1,000 per share. The authorisation is valid until the Annual

General Meeting in 2025, however no later than 30 June 2025.

All acquisitions under the buyback programme will be executed on Euronext Oslo

Børs. The execution of any repurchases will depend on market conditions, the

buyback programme may be discontinued at any time and the Company may resolve to

terminate the buyback programme before the threshold set out above is reached.

Scatec does not hold any own shares as of the date of this announcement.

For further information, please contact:

Andreas Austrell, VP Investor Relations, [email protected] (mailto:[email protected])

About Scatec

Scatec is a leading renewable energy solutions provider, accelerating access to

reliable and affordable clean energy 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 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

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