Cloudberry Clean Energy ASA

Investor Presentation • Nov 13, 2020

\[Cloudberry Clean Energy AS | Engaged in a material M&A transaction and updated company presentation]\

\[Cloudberry Clean Energy AS | Engaged in a material M&A transaction and updated company presentation]\

Oslo, Norway, 13 November 2020: Cloudberry Clean Energy AS ("Cloudberry" or "the

company") hereby announces that it is engaged in a material M&A transaction

including Nordic renewable assets. An acquisition would entail a substantial

capital need and Cloudberry has therefore engaged with selected investors to

explore the potential to underwrite the equity financing required for the

transaction. It is emphasized that Cloudberry is in an early phase of the

transaction. No assurances can be made as to whether a transaction will be

concluded or not. Cloudberry will update the market in due course.

Cloudberry has retained Carnegie, Pareto Securities and SEB as Managers in the

potential transaction.  Attached the updated company presentation.

For further information

Visit www.cloudberry.no or contact:

Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no

Christian Helland, CVO, +47 418 80 000, ch@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.