Scatec Signs Power Purchase Agreements

Scatec ASA SCATC:

• REG-POWER PURCHASE AGREEMENTS SIGNED UNDER SOUTH AFRICA’S REIPPPP BID WINDOW 5

• SIGNED POWER PURCHASE AND IMPLEMENTATION AGREEMENTS FOR THREE SOLAR GROOTFONTEIN PROJECTS IN SOUTH AFRICA, ALONGSIDE SOUTH AFRICAN GOVERNMENT

• COMMERCIAL AND FINANCIAL CLOSE IS EXPECTED IN FIRST HALF OF 2023

• SCATEC WILL OWN 51% OF EQUITY IN PROJECTS WITH H1 HOLDINGS OWNING 46.5% AND A COMMUNITY TRUST HOLDING 2.5%

• COMBINED FACILITIES WILL POWER APPROXIMATELY 33,000 HOUSEHOLDS