Cloudberry Clean Energy ASA

M&A Activity • Jun 30, 2023

Cloudberry Clean Energy ASA | Successfully completes sale of assets

Cloudberry Clean Energy ASA | Successfully completes sale of assets

Oslo, Norway, 30 June 2023: 16[th] of June 2023 Cloudberry ("Cloudberry" or the

"Company") announced the signing of a share sale and purchase agreement with

Norsk Vannkraft AS ("Norsk Vannkraft") for the sale of the three hydropower

plants Åmotsfoss, Selselva and Nessakraft.

Today, Cloudberry announces the successful completion of the transaction,

yielding an internal rate of return (IRR) of above 55% p.a. for the Company and

generating free cash of approximately NOK 500 million. The total transaction

value is NOK 703 million, on a debt and cash free basis. The equity value of the

shares to be sold is NOK 511 million, realizing a significant gain for

Cloudberry.

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.