Cloudberry Clean Energy ASA

Share Issue/Capital Change • Dec 22, 2020

Cloudberry Clean Energy AS | New Share Capital Registered

Cloudberry Clean Energy AS | New Share Capital Registered

Oslo, Norway, 22 December 2020: Reference is made to the stock exchange

announcement dated 14 December 2020 regarding Cloudberry Clean Energy AS` (the

"Company") successful completion of a private placement and the announcement

dated 21 December 2020 regarding the EGM's resolution to approve the issuance of

the new shares in accordance with the proposal by the Board of Directors.

The new share capital increase has today been registered with the Norwegian

Register of Business Enterprises (Nw.: Foretaksregisteret). The Company`s share

capital has been increased by NOK 11,904,761.75 by the issuance of 47,619,047

new shares.

The Company's new share capital is NOK 26,266,334.00 divided among

105,065,336 shares, each with a nominal value of NOK 0.25.

The new shares are expected to be registered with the Norwegian Central

Securities Depository (VPS) later today and will upon such registration be

listed on Euronext Growth Oslo.

For further queries, please contact:

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

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

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 (Merkur Market) 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.