Scatec Solar ASA: Long term incentive programme

Oslo, 2 January 2020: In line with the terms adopted by the Annual General Meeting of Scatec Solar ASA in 2019, the Board of Directors continue to implement a share-based incentive programme for leading employees of the company. Today, a total of 595,140 share options were granted to leading employees, including the following primary insiders:

Raymond Carlsen, CEO: 48,308
Mikkel Tørud, CFO: 35,614
Torstein Berntsen, EVP Power Production & Asset Management: 29,400
Pål Helsing, EVP Solutions: 29,740
Roar Haugland, EVP Sustainable Business & HSSE: 27,663
Terje Pilskog, EVP Project Development & Project Finance: 32,400
Snorre Valdimarsson, EVP General Counsel: 29,426
Toril Haaland, EVP People & Organisation: 25,258
Ingrid Aarsnes, VP Communication & IR: 10,570

Each share option gives the right to subscribe for and be allotted one share in Scatec Solar ASA. The strike price of the options is set to NOK 114.83 per share based on the volume weighted average share price over the ten last trading days preceding the grant date of 2 January 2020. The options will lapse if not exercised by 1 January 2024. The option grant is divided into three tranches whereby 1/3 vests each year over three years, with the first tranche vesting 1 January 2021. The current grant is the first of three contemplated annual grants of share options in accordance with Scatec Solar’s share-based incentive programme.

Attached is an overview of the primary insiders’ total numbers of share options.

For further information, please contact:    

Mikkel Tørud, CFO                 
tel: +47 976 99 144           
mikkel.torud@scatecsolar.com  

Ingrid Aarsnes, Communication & IR  
tel: +47 950 38 364      
ingrid.aarsnes@scatecsolar.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 1.3 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

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