Employee Share Purchase Programme 2020

27 May 2020: As announced on 28 April 2020, Scatec Solar (the Company) offered participants the opportunity to purchase shares with a subscription value of between NOK 19,661 and NOK 78,644. The subscription period was originally from 8 May to 15 May 2020. The shares will be allocated to employees on or about 10 June 2020. Due to the fact that certain employees did get access to inside information on 15 May 2020, these employees were unable to subscribe within the original subscription period. The Company decided to re-open the subscription window for a short period for the employees in question, except for members of the Company’s Executive Management. The subscription window re-opened 26 May 2020 and closed at 27 May 2020 at 12:00.

Primary insider Ingrid Aarsnes, VP Communications & IR in the Company, subscribed for NOK 78,644, equaling 454 shares at a volume weighted price of NOK 173.2177. After this, Ingrid Aarsnes holds 1,331 shares and 10,570 share options in the Company.

For further information, please contact:

Mikkel Tørud, CFO, tel: +47 976 99 144
email: ir@scatec.com

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1.6 GW. The company has a total of 1.9 GW in operation and under construction on four continents.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 4.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’. To learn more, visit www.scatec.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act