Scatec receives approval for ancillary services rate in the Philippines with retroactive effect

30 Jul 2025 08:00 CEST

Oslo/Manila, 29 July 2025: Scatec ASA's joint venture with Aboitiz Power (SNAP)
in the Philippines has received formal regulatory approval by the Energy
Regulatory Commission (ERC) for the previously awarded rate related to the
contingency reserve long-term ancillary services (AS) contracts in the
Philippines.

The awarded contract rate of 2.25 PHP/kWh (previously 1.5 PHP/kWh) will be
effective from July 2025, with a retroactive effect of approximately NOK 231
million proportionate to Scatec. The retroactive revenues will be recognised in
the second quarter 2025, and are expected to be received through periodic
payments within the next 12 months.

As previously communicated, Scatec was awarded the long-term ancillary services
contracts in the beginning of 2023 with start-up in September 2023. Scatec has
delivered volumes under the new contracts since the start-up but received
payments based on a lower rate, as the higher awarded rate required regulatory
approval.

For further information, please contact:
Andreas Austrell, SVP IR
andreas.austrell@scatec.com
(mailto:andreas.austrell@scatec.com)+47 974 38 686

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 6.2 GW in
operation and under construction across five continents today. We are committed
to growing our renewable energy capacity, 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
(http://www.scatec.com) or connect with us on LinkedIn
(https://www.linkedin.com/company/scatec/).

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

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