Release signs lease agreement for a 21 MW solar plant at Motheo copper mine in Botswana

12 Feb 2026 10:00 CET

Oslo, 12 February 2026: Release has today signed a 7-year leasing agreement
with Tshukudu Metals Botswana, a 100% owned subsidiary of Sandfire Resources
headquartered in Australia, for a 21 MW solar power plant at the Motheo Copper
Operations (Motheo) near Ghanzi in Botswana.

The agreement represents an important milestone in the continued expansion of
Release's mining portfolio in Africa, while also building on Scatec's
established presence and strong track record in Botswana following the
successful commissioning of its 120 MW solar portfolio in the country.

The project will provide clean renewable energy to Sandfire's copper producing
asset at Motheo, and support their decarbonisation ambitions.

"This agreement demonstrates the strength of our lease-to-own solution, where
we combine technical expertise with flexible financing to enable our clients
to access large-scale solar without upfront capital investment. Bringing this
solution to Botswana for the first time and in partnership with mining
operation Motheo, is a major milestone for our company," says Hans Olav
Kvalvaag, CEO of Release.

Release will now commence project implementation with start of operations
expected by the end of 2026. Once operational the plant will generate
approximately 40 GWh annually and cover about 30% of Motheo's annual
electricity demand.

For further information, please contact:
For analysts and investors:
Andreas Austrell, SVP Investor Relations
andreas.austrell@scatec.com
+47 974 38 686

For media:
Meera Bhatia, SVP External Affairs & Communications
meera.bhatia@scatec.com
+47 468 44 959

About Release
Designed to overcome financial and technical barriers associated with adopting
solar energy, Release is a flexible leasing agreement of re-deployable solar
PV and battery equipment to deliver a low cost, clean, and reliable power
solution. Release is owned by Scatec (68%) and Climate Fund Managers (32%) via
its EU-supported Climate Investor One Fund, a USD 1 billion blended finance
facility focused on renewable energy infrastructure in emerging markets. To
learn more, visit: www.releasesolar.com

About Sandfire Resources
Sandfire has grown to be a global copper producer of significance and
continues to make strong progress toward its goal of being a sustainable
mining company. Sandfire is headquartered in Perth, Western Australia and is
listed on the Australian Securities Exchange (ASX). Its principal operating
assets are the MATSA Copper Operations (MATSA) in Spain and the Motheo Copper
Operations (Motheo) in Botswana. Sandfire holds an 87% stake in the Toronto
Stock Exchange-listed Sandfire Resources America, which owns a 100% interest
in the Black Butte Copper Project in central Montana in the United States.

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, 12.02.2026 10:00 CET.

More information:
Access the news on Oslo Bors NewsWeb site

665591_Release signs lease agreement for a 21 MW solar plant at Motheo copper mine in Botswana.pdf