Cloudberry Clean Energy ASA

Capital/Financing Update • Nov 25, 2021

Cloudberry Clean Energy ASA | Credit facility agreement increased from NOK 700 million to NOK 1 900 million

Cloudberry Clean Energy ASA | Credit facility agreement increased from NOK 700 million to NOK 1 900 million

Oslo, Norway, 25 November 2021: Cloudberry Clean Energy ASA ("Cloudberry" or

"the company") has increased its NOK 700 million credit facility agreement to

NOK 1 400 million with a possibility to increase the facility with an additional

NOK 500 million.

Cloudberry, a Nordic renewable energy company, has entered into the credit

facility agreement as part of the financing of its growth strategy focused on

owning, developing, and operating hydro and wind power in the Nordics.

The credit facility agreement is entered into with SpareBank 1 SR Bank ASA

together with other SpareBank 1 banks. The credit facility will strengthen the

Company's ability to grow both organically and in-organically and has a high

flexibility with no fixed price (PPA) requirements. Cloudberry normally hedge

all long-term debt to reduce interest rate risk (typically 15 years). The

facility can be used for financing of hydro as well as wind assets in Norway and

Sweden.

"Cloudberry continues its growth journey in the Nordic renewable market.

Establishing a flexible and long-term financing is an important part of the

realisation of our growth strategy. We are pleased to be able to work with high

quality savings banks in Norway, which support our growth. Through this facility

agreement, we continue to reduce our debt margin cost below the 2% margin", says

Anders Lenborg, CEO of Cloudberry.

"We are pleased to continue our cooperation with Cloudberry, regarding the

efforts made for increasing the amount of renewable energy production, to

support the substantial ongoing electrification of our society", 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:

Jon Gunnar Solli, COO, +47 970 38 507, jgs@cloudberry.no

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

This information constitutes insider information and is subject to the

disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 17 and

section 5-12 of the Norwegian Securities Trading Act. This stock exchange

announcement was published by Suna F. Alkan, Chief Sustainability Officer,

Cloudberry Clean Energy ASA, on 25 November 2021 at 20:30 CET.

About Cloudberry Clean Energy:

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

is located in Oslo, Norway (main office) and Karlstad, Sweden. To learn more

about Cloudberry, go to www.cloudberry.no.