Scatec ASA: Long term incentive programme

Oslo, 3 January 2024: In line with the terms adopted by the Annual General Meeting of Scatec ASA in 2023, 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 1,514,263 share options were granted to leading employees, including the following primary insiders: Terje Pilskog, CEO: 59,516 Hans Jakob Hegge, CFO: 54,105 Mohamed Amer, EVP Green Hydrogen & Egypt: 31,842 Eliseo Ana, EVP Asia: 41,240 Jan Fourie, EVP Sub-Saharan Africa: 28,053 Roar Haugland, EVP People, Sustainability & Digitalisation: 33,054 Pål Helsing, EVP Solutions: 38,022 Ann-Mari Lillejord, EVP Latin America & Europe: 32,463 Siobhan Minnaar, EVP General Counsel: 30,917 Pål Strøm, EVP Operations & Maintenance: 30,917 Andreas Austrell, VP Investor Relations: 14,045 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 79.47 per share based on the volume weighted average share price over the ten last trading days preceding the grant date of 3 January 2024. The options will lapse if not exercised by 1 January 2028. The option grant is divided into three tranches whereby 1/3 vests each year over three years, with the first tranche vesting 1 January 2025. The current grant is the second 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 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 4.3 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