Cloudberry Clean Energy ASA

Capital/Financing Update • Mar 23, 2021

Cloudberry Clean Energy AS | Credit facility agreement

Cloudberry Clean Energy AS | Credit facility agreement

Oslo, Norway, 23 March 2021: Cloudberry Clean Energy AS ("Cloudberry" or "the

company") has entered a NOK 700 million credit facility agreement.

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 a combination of a MNOK 400 Term Loan and a NOK

300 million Revolving Credit Facility, and the agreement is entered into with

SpareBank 1 SR Bank. The credit facility will strengthen our ability to grow

both organically and in-organically.  In connection with the new credit facility

agreement Cloudberry will repay a short-term loan of NOK 236 million to Fontavis

AG.

"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 saving banks in Norway", says Anders Lenborg, CEO of Cloudberry.

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

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

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Suna F. Alkan, Chief

Sustainability Officer, Cloudberry Clean Energy AS, on 23 March 2021 at 20:30

CET.

About Cloudberry Clean Energy:

Cloudberry Clean Energy AS is a Nordic renewable energy company. We own, develop

and operate hydro power plants and wind farms in Norway and Sweden. Our purpose

is to provide clean renewable energy for future generations, developing a

sustainable society for the long term and creating value for our stakeholders.

We believe in a fundamental long-term demand for renewable energy in the Nordics

and Europe. Our purpose shapes every aspect of how Cloudberry operates.

Cloudberry has a strong commitment to local communities. Our integrated value

chain approach ensures local presence and optimisation of stakeholder alignment

and value creation. Our long-term growth strategy rests upon our ability to

create value for stakeholders, and our ability to use the best possible

technology available, bring down costs, improve sustainability and make an

important contribution to the necessary European energy transition. We will

realise growth through organic greenfield development and by taking part in

structural development of the Nordic renewable energy industry.

We are a public Euronext Growth company supported by strong owners and led by an

experienced management team and board. Our offices are in Oslo, Norway (main

office) and Karlstad, Sweden. To learn more about Cloudberry, go

to www.cloudberry.no.