Cloudberry Clean Energy ASA

M&A Activity • Dec 21, 2020

Cloudberry Clean Energy AS | Specification regarding today's company release "Signed SPA to purchase hydropower plants in Norway"

Cloudberry Clean Energy AS | Specification regarding today's company release "Signed SPA to purchase hydropower plants in Norway"

Oslo, Norway, 21 December 2020: Earlier today, Cloudberry Clean Energy AS

("Cloudberry" or "the company") informed about the signing of a Share Purchase

Agreements (SPA) to purchase two hydropower companies in Norway, Selselva Kraft

AS and Skåråna Kraft AS, with a total expected annual production of around 34

GWh.

The company would like to specify that the financing of the two hydropower

companies is covered by the announced Private Placement on 14 December 2020.

For further information, visit our company and IR website www.cloudberry.no or

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.