Cancellation of the repair offering

Reference is made to the stock exchange announcement from Scana ASA (OSE: SCANA) (the “Company”) dated 3 February 2022 regarding the commencement of the subscription period in the subsequent offering of up to 50,000,000 new shares (the “Repair Offering”).

The subscription period in the Repair Offering expired on 18 February 2022 at 16:30 (CET).

In light of the fact that the Company’s shares on the Oslo Stock Exchange traded at a significantly lower price than the subscription price of NOK 1.40 per share during the subscription period—and at substantial volumes—the Company’s Board of Directors has resolved not to proceed with the Repair Offering.

Eligible shareholders who exercised subscription rights to subscribe for shares in the Repair Offering will therefore not be allocated shares at the subscription price of NOK 1.40 per offer share.

Fearnley Securities AS and SpareBank 1 Markets AS acted as managers for the Repair Offering (the “Managers”).

Advokatfirmaet Schjødt AS is acting as legal advisor to Scana.

For further information, contact:

Styrk Bekkenes, CEO Scana ASA E-post: styrk.bekkenes@scana.no T: +47 40 40 35 20

Torvald Ulland Reiestad, CFO Scana ASA E-post: Torvald.reiestad@scana.no T: +47 97 98 78 95

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