Scatec ASA: Proposed authorisation to the Board of Directors to increase the share capital of the Company

Oslo, 30 March 2022: The Board of Directors of Scatec ASA (the "Company") has proposed that the Annual General Meeting grants an authorisation to the Board of Directors to increase the share capital of the Company by:

1. up to NOK 397,293 (approximately 10% of the share capital of the Company) for the purpose of strengthening of the Company’s equity and the issuance of consideration shares in connection with acquisitions of businesses within the Company’s purpose, and
2. up to NOK 28,275.1 in connection with the Company’s share incentive programme for employees.

The board has proposed that the authorisations shall be valid until the Annual General meeting to be held in 2023. The proposed authorisations will be on the agenda for the Company's Annual General Meeting to be held on 29 April 2022.

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 provider of renewable energy solutions, that is accelerating access to reliable and affordable clean energy in high growth markets. As a long- term player, we develop, build, own and operate renewable energy plants which currently have 3.5 GW of installed capacity in four continents. We are targeting 15 GW renewable capacity to be in operation or under construction by the end of 2025, delivered by our 600 passionate employees who are driven by a common vision: 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 or connect with us on Linkedin.

This information is subject to the disclosure requirements pursuant to the Issuer Rules.