Cloudberry Clean Energy ASA

Major Shareholding Notification • Dec 9, 2021

Cloudberry Clean Energy ASA | Mandatory Notification of Trade and Flagging

Cloudberry Clean Energy ASA | Mandatory Notification of Trade and Flagging

Oslo, Norway, 9 December 2021: Reference is made to the stock exchange notice

from Cloudberry Clean Energy ASA ("Cloudberry" or the "Company") on 8 December

regarding the private placement raising gross proceeds of NOK 600 million

through issuance of 41,379,310 new shares in the Company (the "Private

Placement").

The following primary insiders and close associates of primary insiders have

subscribed for shares in the Private Placement, which is regarded as PDMR/PCA

trades under the Market Abuse Regulation (EU) No 596/2014 ("MAR"):

· Havfonn AS, a company closely related to the board member Morten Bergesen,

was allocated 3,447,668 shares in the Private Placement and will, following

completion of the Private Placement, hold 19,600,264 shares in the Company.

· Snefonn AS, a company closely related to the board member Morten Bergesen,

was allocated 2,509,770 shares in the Private Placement and will, following

completion of the Private Placement, hold 14,268,242 shares in the Company.

· Viva North AS, a person closely related to Tor Arne Pedersen, CDO in the

Company, was allocated 34,482 shares in the Private Placement and will,

following completion of the Private Placement, hold 139,128 shares in the

Company. Tor Arne Pedersen also holds 300,000 warrants.

· Cappadocia Invest AS, a person closely related to Suna F. Alkan, CSO of the

Company, was allocated 3,448 shares in the Private Placement and will, following

completion of the Private Placement, hold 233,448 shares in the Company. Suna

Alkan also holds 225,000 warrants.

· Lotmar Invest AS, a person closely related to Jon Gunnar Solli, COO in the

Company, was allocated 6,896 shares in the Private Placement and will, following

completion of the Private Placement, hold 600,498 shares in the Company. Jon

Gunnar Solli also holds 300,000 warrants.

The transaction took place on 8 December 2021 at a price per share of NOK 14,50

per share. Settlement of the shares is expected to take place on 13 December

Cloudberry refers to the attached notifications for persons discharging

managerial responsibilities in the company in accordance with Regulation EU

596/2014 (MAR) article 19.

In addition, the below persons have, as further detailed below and on the basis

of subscription of shares in the Private Placement, crossed the notifiable

holdings thresholds of Section 4-2 of the Norwegian Securities Trading Act:

· Ferd AS, was allocated 10,344,827 shares in the Private Placement and will,

following completion of the Private Placement, hold 26,344,827 shares in the

Company. Following registration of the shares issued in the Private Placement

Ferd AS' holding will be equal to 11.20% of the shares and votes of the Company.

The shares are held directly by Ferd AS.

For further information please contact:

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

Suna Alkan, CSO, +47 913 02 907, sa@cloudberry.no

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

-12 of the Norwegian Securities Trading Act. This stock exchange announcement

was published by Suna Alkan, CSO at Cloudberry Clean Energy ASA on 9 December

2021, at 01:20 CET.

About Cloudberry

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

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

hydropower plants and wind farms in Norway and Sweden. 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) and Karlstad, Sweden. To learn more about Cloudberry, go to

www.cloudberry.no