Exercise of share options associated with the share option program by primary insiders.

Option holders in Scana ASA’s share option program have today exercised 1,166,666 options.

Primary insider Torvald Ulland Reiestad, Chief Financial Officer in Scana, has exercised 666,666 options granted on 24 January 2022. The exercise price for the share options is 1.42 per share.

Following the transaction Torvald Ulland Reiestad owns a total of 1,265,326 shares.

Primary insider Morten Riiser, VP Finance in Scana, has exercised 500,000 options granted on 24 January 2022. The exercise price for the share options is 1.42 per share.

Following the transaction Morten Riiser owns a total of 500,000 shares.

The exercised options will be settled by issuance of new shares, increasing the Company’s share capital to NOK 453,559,566 divided into 453,559,566 shares.

Please see attached transaction notifications for further details.

All exercised options have been granted in accordance with the company’s share option program. This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.