Cloudberry Clean Energy ASA

Share Issue/Capital Change • Dec 4, 2020

Cloudberry Clean Energy AS | New Share Capital Registered

Cloudberry Clean Energy AS | New Share Capital Registered

Oslo, Norway, 4 December 2020: Reference is made to the stock exchange

announcement dated 16 November 2020 regarding Cloudberry Clean Energy AS` (the

"Company") issuance of shares in relation to the settlement of the group's

acquisition of the shares in the small-scale wind power developer Skogvind AS.

The 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 29,662 through issue of 118,648 new shares.

The Company's new share capital is NOK 14,361,572.25, divided into

57,446,289 shares, each with a nominal value of NOK 0.25.

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 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.