Scatec Solar ASA – Participation of primary insiders in private placement

Oslo, 21 October 2020: Reference is made to the stock exchange announcement published by Scatec Solar ASA ("SSO" or the "Company", ticker code "SSO") on 20 October 2020 regarding a private placement of the Company's shares (the "Private Placement").

Argentos AS, a company owned 100% by Raymond Carlsen, CEO of the Company, was allocated 86,956 shares. Total holding for Raymond Carlsen (directly and through Argentos AS) after the transaction is 3,105,290 shares and 108,637 share options.

Jan Skogseth, Board Member in the Company, was allocated 1,000 shares. Total holding after the transaction is 23,000 shares and 0 share options.

For further information, please contact:
Ingrid Aarsnes, VP Communication & IR
Tel: +47 950 38 364, ingrid.aarsnes@scatecsolar.com

About Scatec Solar
Scatec Solar is an integrated independent renewable power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long-term player, Scatec Solar develops, builds, owns, operates and maintains solar 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.scatecsolar.com.

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