Cloudberry Clean Energy ASA

Cloudberry Clean Energy ASA | Issuance of shares to members of the Board of Directors

The Company's general meeting has resolved a share purchase program for the

Board of Directors. Pursuant to this program the members of the Board of

Directors shall invest 30% of the fixed gross remuneration (prior to tax) per

year in the Company's shares until the value of the shares of each individual

member amounts to at least two years of board remuneration. The members of the

Board of Directors shall after the threshold of two years board remuneration has

been achieved, be offered to use up to 30% of the gross board remuneration

(prior to tax) to acquire shares. The shares that are acquired pursuant to the

program subject to a three-year lock-up and will be offered at a subscription

price which is 15% below the prevailing market price.

In relation to this program, the Board of Directors has today resolved to

increase the Company's share capital by NOK 20,958.25 through issuance of 83,833

new shares at a subscription price of NOK 7.64 per share. The subscription price

represents a 15% discount on the closing price of Cloudberry's shares on 8 May

2024. Tove Feld, Petter W. Borg, Henrik Joelsson, Nicolai Nordstrand, Alexandra

Koefoed and Benedicte Fossum have subscribed for shares.

The new shares are subject to a three-year lock-up.

Following the issuance of the new shares, and prior to the completion of the

capital decrease resolved by the Company's general meeting on 16 April 2024, the

Company will have 291,453,937 shares outstanding, each with a nominal value of

NOK 0.25. The total share capital of the company will be NOK 72,863,484.25. The

company's Articles of Associations will be updated accordingly.

For further information please contact:

Christian Helland, CVO, +47 418 80 000, [email protected]

Ole-Kristofer Bragnes, Senior Financial Officer, +47 91 70 34 15,

The information contained in this stock exchange announcement is subject to the

disclosure requirements pursuant to section 5-12 of the Norwegian Securities

Trading Act.

About Cloudberry

Cloudberry is a renewable energy company operating in the Nordics and in

accordance with local traditions. The Company owns, develops, and operates

hydropower plants and wind farms in the Nordics. Cloudberry is powering the

energy transition to a sustainable future by providing new renewable energy

today and for future generations. The Company believes in a fundamental long

-term demand for renewable energy in Europe. With this as a fundament,

Cloudberry is building a sustainable, scalable, efficient, and profitable

platform for creation of shareholder value. Cloudberry`s shares are traded on

Oslo Stock Exchange's main list (Oslo Børs), supported by strong owners and led

by an experienced team and board. The Company has offices in Oslo, Norway (main

office), Karlstad, Gothenburg and Eskilstuna, Sweden and Lemvig, Denmark. To

learn more about Cloudberry, go to www.cloudberry.no

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