Oslo, 16 March 2023. Scatec Innovation AS ("Scatec Innovation"), a company
closely associated with the chairman of the board and primary insider in Scatec
ASA ("Scatec " or the "Company"), John Andersen, Jr., has today sold 5,350,000
shares in Scatec, representing 3.37% of the share capital in the Company, at a
price of NOK 61.00 per share (the "Transaction").  
 
After the Transaction, Scatec Innovation holds 14,132,339 shares in the Company,
representing 8.89% of the Company. Scatec Innovation has entered into a 180 day
lock-up with the Manager (as defined below) for its remaining shares in the
Company after the Transaction. 
 
"Scatec Innovation is an incubator and investment company focusing on innovation
and industrialisation within the fields of renewable energy and advanced
materials. While we are a long term investor, we will from time to time monetise
our interests in more mature holdings to expand our capacity to invest in and
support our earlier stage portfolio companies. Scatec, which we founded in 2007,
is, and will remain, a core holding in Scatec Innovation's portfolio", said John
Andersen, Jr., CEO of Scatec Innovation. 
 
ABG Sundal Collier ASA (the "Manager") acted as sole financial adviser to Scatec
Innovation and as bookrunner in the connection with the Transaction. 
 
This information is subject to the disclosure requirements pursuant to section
5-12 and 4-2 of the Norwegian Securities Trading Act.