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