Cloudberry Clean Energy ASA

Remuneration Information • Jul 2, 2021

Cloudberry Clean Energy ASA | Grant of warrants under the Company's Equity Incentive Program

Cloudberry Clean Energy ASA | Grant of warrants under the Company's Equity Incentive Program

Oslo, Norway, 2 July 2021: Reference is made to the resolution made by the

General Meeting on 17 June 2021 regarding the issuance of up to 5,500,0000

warrants under the Company's equity incentive program. The Board of Directors

has allocated 5.500.000 warrants to the Company's employees, which have been

subscribed by the relevant holders. Each warrant gives the holder a right to

subscribe for one share in the Company at a strike price of NOK 12.50 per share.

In accordance with the terms of the Company's equity incentive plan, the

warrants vest over a three-year period, with 1/3 annually. Warrants which have

not been exercised in accordance with the terms of the equity incentive plan

lapse on 17 June 2026.

The following primary insiders have been allocated warrants:

· Anders Lenborg, Chief Executive Officer: 1,900,000 warrants. Following the

grant, Anders Lenborg directly and indirectly controls 1,323,546 shares and

2,695,000warrants.

· Christian Helland, Chief Value Officer: 1,500,000 warrants. Following the

grant, Christian Helland directly and indirectly controls 452,758 shares and

2,000,000 warrants.

· Jon Gunnar Solli, Chief Operating Officer: 600,000 warrants. Following the

grant, Jon Gunnar Solli directly and indirectly controls 593,602 shares and

900,000 warrants.

· Suna F. Alkan, Chief Sustainability Officer: 300,000 warrants. Following the

grant, Suna F. Alkan directly and indirectly controls 230,000 shares and 525,000

warrants.

· Tor Arne Pedersen, Chief Development Officer: 300,000 warrants. Following

the grant, Tor Arne Pedersen directly and indirectly controls 104,646 shares and

600,000 warrants.

· Roger Blikra Grøndahl, Project developer: 500,000 warrants. Following the

grant, Roger Blikra Grøndahl directly and indirectly controls 210,698 shares and

580,000 warrants.

· Marie Nygård Gulsvik, Group Accounting Manager: 300,000 warrants. Following

the grant, Marie Nygård Gulsvik directly and indirectly controls 16,000 shares

and 300,000 warrants.

· Andreas Aasheim (not a primary insider) have been allocated 100,000

warrants.  Following the grant, Andreas Aasheim directly and indirectly controls

100,000 warrants.

Cloudberry refers to the attached notifications for persons discharging

managerial responsibilities in the company in accordance with MAR article 19.

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 disclosure requirements set out in the Market

Abuse Regulation EU 596/2014 Article 19 and the Norwegian Securities Trading Act

Section 5-12. This stock exchange announcement was published by Suna F. Alkan,

CSO at Cloudberry Clean Energy ASA, on 2 July 2021 at 19:00 CEST.

About Cloudberry

Cloudberry Clean Energy ASA is a Nordic renewable energy company, owning,

developing, and operating hydro power plants and wind farms in Norway and

Sweden. The Company`s purpose is to provide clean renewable energy for future

generations, developing a sustainable society for the long term and creating

value for our stakeholders. The Company believes in a fundamental long-term

demand for renewable energy in the Nordics and Europe, and purpose shapes every

aspect of how Cloudberry operates.

Cloudberry`s shares are traded on Oslo Stock Exchange's main list (Oslo Børs),

supported by strong owners and led by an experienced management 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.