Cloudberry Clean Energy ASA

Capital/Financing Update • Jul 4, 2023

Cloudberry Clean Energy ASA | Increased credit facility

Cloudberry Clean Energy ASA | Increased credit facility

Oslo, Norway, 04 July2023: Cloudberry ("Cloudberry" or the "Company") has today

increased its available credit facility with NOK 800 million to a total of NOK

2 200 million, with a possibility to increase the facility with an additional

NOK 300 million.

The credit facility agreement is entered into between Cloudberry Production AS,

a wholly owned subsidiary, and a bank syndicate consisting of Sparebank 1 SR

-Bank, Sparebank 1 Nord-Norge and Sparebank 1 Østlandet. The facility gives

Cloudberry a strong flexibility to finance and grow our renewable asset base in

the Nordics at an interest margin below 2%.

"This significantly strengthens the partnership with our local savings bank

syndicate, and we are pleased to have their support as we continue to accelerate

the energy transition to a more sustainable future", says Anders Lenborg, CEO

Cloudberry.

"We are pleased with our cooperation with Cloudberry as they continue with their

contribution to the ongoing electrification of our society by providing

renewable energy into the mix", says Tore Medhus, director of large corporates

in SpareBank 1 SR-Bank ASA.

For further information, visit our company and IR website www.cloudberry.no or

contact:

Anders Lenborg, CEO, +47 934 131 30, al@cloudberry.no

Christian Helland, CVO, +47 418 80 000, ch@cloudberry.no

Ole-Kristofer Bragnes, Senior Financial Officer, +47 917 03 415,

okb@cloudberry.no

This information is subject to the disclosure requirements pursuant to Section 5

-12 of the Norwegian Securities Trading Act.

About Cloudberry Clean Energy:

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, Eskilstuna, Sweden and Lemvig, Denmark. To learn

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