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