Scatec ASA: Long term incentive programme

Oslo, 4 January 2022: In line with the terms adopted by the Annual General Meeting of Scatec ASA in 2021, 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 1,049,596 share options were granted to leading employees, including the following primary insiders: Raymond Carlsen, CEO: 43,183 Mikkel Tørud, CFO: 30,345 Torstein Berntsen, EVP Power Production & Asset Management: 26,844 Pål Helsing, EVP Solutions: 26,844 Roar Haugland, EVP Sustainable Business & HSSE: 23,342 Terje Pilskog, EVP Project Development & Project Finance: 29,178 Snorre Valdimarsson, EVP General Counsel: 25,677 Toril Haaland, EVP People & Organisation: 22,175 Jarl Kosberg, EVP Project Development Hydropower: 26,844 Andreas Austrell, VP Investor Relations: 9,946 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 150.79 per share based on the volume weighted average share price over the ten last trading days preceding the grant date of 4 January 2022. The options will lapse if not exercised by 1 January 2026. The option grant is divided into three tranches whereby 1/3 vests each year over three years, with the first tranche vesting 1 January 2023. The current grant is the third of three contemplated annual grants of share options in accordance with Scatec's share-based incentive programme. Attached is 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 ASA Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. Scatec has more than 3.5 GW in operation and under construction on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. 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 or connect with us on Linkedin (https://www.linkedin.com/company/scatec). This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation article 19 and section 5-12 of the Norwegian Securities Trading act.