Cloudberry Clean Energy ASA

Related Party Transaction • Jul 2, 2021

Cloudberry Clean Energy ASA | Notifiable transaction by primary insiders and close associates in connection with the Offering

Oslo, Norway, 2 July 2021: Reference is made to the stock exchange notice from Cloudberry Clean Energy ASA ("Cloudberry" or the "Company") on 2 July regarding the result of the offering of 2,800,000 new shares at a subscription price of NOK 12.50 per share (the "Offering").

The following primary insiders and close associates of primary insiders have subscribed for and been allocated shares in the Offering, which is regarded as PDMR/PCA trades under the Market Abuse Regulation (EU) No 596/2014 ("MAR"):

• CCPartner AS, a person closely related to Frank J. Berg, Chairman of the Company has subscribed 128,893 shares in the Offering and will, following completion of the Offering hold 3,302,040 shares in the Company.
• Mothe Invest AS, a person closely related to Frank J. Berg, has subscribed 1,781 shares in the Offering and will, following completion of the Offering hold 21,781 shares in the Company.
• Caddie Invest AS, a person closely related to Petter W. Borg, Board Member of the Company has subscribed 48,589 shares in the Offering and will, following completion of the Offering hold 1,244,791 shares in the Company.
• Greenvalley AS, a person closely related to Roger Grøndahl, Project Manager in the Company has subscribed 8,146 shares in the Offering and will, following completion of the Offering hold 208,698 shares in the Company. Roger Grøndahl also holds 2,000 shares and 80,000 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 18:00 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.