Scatec first quarter 2026: Driving growth across our global portfolio

Oslo, 6 May 2026: In the first quarter, Scatec continued to progress its near-term growth portfolio, which is at an all-time-high. Proportionate revenues were NOK 1,640 million (2,387 million), and EBITDA was NOK 774 million (1,379 million).

Power production revenues were NOK 929 million (1,623 million) and EBITDA NOK 702 million (1,390 million). The change is mainly driven by the divestment gains from Uganda and Vietnam in the same quarter last year. Total proportionate power production from Scatec's power plants was 1,046 GWh (979 GWh).

The Development & Construction (D&C) segment reported revenues of NOK 695 million (751 million) and EBITDA of NOK 100 million (26 million). Revenues were mainly driven by the Obelisk and Mogobe projects, while the strong EBITDA margin was positively impacted by an 80 million contingency release related to the Obelisk project.

| "We continue to execute on our strategy of combining disciplined growth with | a strengthened financial position. During the quarter, we progressed our | record-high development portfolio and advanced multiple projects towards | construction and operation across our core markets. At the same time, we | further strengthened our financial position through debt repayments and | refinancing of our revolving credit facility, supporting our self-funded | growth plan and long-term value creation," says Scatec CEO Terje Pilskog.

Scatec reached several important milestones for the growth portfolio during the quarter, while improving the financial position:

* Reached COD for Sidi Bouzid and Tozeur in Tunisia and the first phase of Obelisk in Egypt

* Started construction of five new projects across the Philippines, Romania, Colombia and South Africa, totaling 575 MW solar and 80 MWh BESS

* Advanced the 900 MW wind project, Shadwan in Egypt to backlog

* Released NOK 80 million in contingency for the first phase of the Obelisk project, reflecting timely and cost-efficient execution

* Repaid NOK 286 million of corporate debt and refinanced the revolving credit facility at improved terms after the end of the quarter

First quarter consolidated revenues and other income were NOK 1,020 million (1,814 million), EBITDA was NOK 729 million (1,505 million), and net profit was NOK -192 million (764 million). Outlook

* Full year 2026 proportionate power production of 5.05 to 5.45 TWh

* Full year 2026 proportionate EBITDA from power production of NOK 3,600 to 3,900 million

* Remaining D&C contract value of NOK 4.2 billion for projects under construction

* Estimated gross margin for projects under construction between 10% and 12%

Additional information Proportionate historical financial information on a country-by-country level and a portfolio overview is published on the website. See definitions of the Alternative Performance Measures in the appendix in the quarterly report.

A presentation of the first quarter results followed by a Q&A session, will be held at Scatec's headquarters at Skøyen Atrium III (1st floor), Askekroken 11, 0277 Oslo, today at 09:00 am CEST. You can also follow the presentation and Q&A session through this link: Scatec webcast Q1 2026 (https://qcnl.tv/p/42qDm9AnoyZQcmJT6dADvA)

For further information, please contact: For analysts and investors: Andreas Austrell, SVP Investor Relations andreas.austrell@scatec.com

For media: Meera Bhatia, SVP External Affairs & Communications meera.bhatia@scatec.com

About Scatec Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.4 GW generation and 2 GWh storage capacity in operation and under construction across five continents. We are committed to growing our renewable energy portfolio, delivered by our passionate employees and partners who are driven by a common vision of Improving our Future'. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol SCATC'. To learn more, visit www.scatec.com or connect with us on LinkedIn.

This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12. The information was submitted for publication, through the agency of the contact persons set out above, 06.05.2026 07:00 CEST.