Cloudberry Clean Energy ASA

Cloudberry Clean Energy ASA | Issuance of shares to members of the Board of Directors

In September 2020, the Company's general meeting resolved a share purchase

program for the Board of Directors. Pursuant to this program the members of the

Board of Directors shall invest 30% of the fixed gross remuneration (prior to

tax) per year in the Company's shares until the value of the shares of each

individual member amounts to at least two years of board remuneration. The

members of the Board of Directors shall after the threshold of two years board

remuneration has been achieved, be offered to use up to 30% of the gross board

remuneration (prior to tax) to acquire shares. The shares that are acquired

pursuant to the program subject to a three-year lock-up and will be offered at a

subscription price which is 15% below the prevailing market price.

In relation to this program, the Board of Directors has today resolved to

increase the Company's share capital by NOK 18 658.00 through issuance of 74 632

new shares at a subscription price of NOK 10.39 per share. The subscription

price represents a 15% discount on the closing price of Cloudberry's shares

following Q1 2025 reporting on 13 May 2025 in accordance with previous years

practice. Tove Feld, Petter W. Borg, Henrik Joelsson, Nicolai Nordstrand,

Alexandra Koefoed, Benedicte Fossum and Mads Andersen have subscribed for

shares.

The new shares are subject to a three-year lock-up.

Following the issuance of the new shares, the Company will have 317 379 624

shares outstanding, each with a nominal value of NOK 0.25. The total share

capital of the company will be NOK 79 344 906.00. The Company's Articles of

Association will be updated accordingly.

For further information please contact:

Ole-Kristofer Bragnes, CFO, +47 91 70 34 15, [email protected]

Anders Lenborg, CEO, +47 934 13 130, [email protected]

The information contained in this stock exchange announcement is subject to the

disclosure requirements pursuant to section 5-12 of the Norwegian Securities

Trading Act.

About Cloudberry

Cloudberry is a renewable energy company operating in the Nordics and in

accordance with local traditions. The Company owns, develops, and operates

hydropower plants and wind farms in the Nordics. Cloudberry is powering the

energy transition to a sustainable future by providing new renewable energy

today and for future generations. The Company believes in a fundamental long

-term demand for renewable energy in Europe. With this as a fundament,

Cloudberry is building a sustainable, scalable, efficient, and profitable

platform for creation of shareholder value. Cloudberry`s shares are traded on

Oslo Stock Exchange's main list (Euronext Oslo Børs), supported by strong owners

and led by an experienced team and board. The Company has offices in Oslo,

Norway (main office), Karlstad, Gothenburg and Eskilstuna, Sweden and Lemvig

Denmark. To learn more about Cloudberry, go to www.cloudberry.no

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