Cloudberry Clean Energy ASA

Cloudberry Clean Energy ASA | Strategic asset sale of Svåheia Wind Farm

Oslo, Norway, 20 May 2025: Cloudberry ("Cloudberry" or the "Company") has today

sold its 80% ownership in the Svåheia wind farm to Dalane Kraft AS ("Dalane

Kraft"). Svåheia wind farm, located in the NO-2 region in Norway, comprises

seven producing Vestas turbines with an estimated annual production of 70 GWh,

having been in commercial operation since 2018 and is under the Norwegian

resource rent tax regime.

The enterprise value is NOK 322 million, with the share price for Svåheia set at

NOK 264 million. Cloudberry will use the proceeds from the share sale to repay

approximately NOK 145 million in external debt, freeing approximately NOK 120

million in cash. This amount corresponds approximately to the total liquidity

effect Cloudberry had in the Skovgaard transaction as a significant part of the

Skovgaard transaction was settled through a share issue at NOK 17 per share. The

purchase price for Svåheia matches what Cloudberry paid for the shares in

Svåheia as part of the Skovgaard transaction signed on 5 December 2024. The

valuation for Svåheia is based on the same principles in the recently concluded

Skovgaard transaction which supports the valuation for the overall transaction.

"We are pleased to demonstrate effective capital allocation to our investors. By

executing this transaction, we have enabled the previously announced Skovgaard

transaction without any material liquidity effect and can now allocate the funds

to other accretive opportunities," says Anders Lenborg, CEO of Cloudberry.

Dalane Kraft, a local utility focusing on wind and hydropower, owns the

remaining 20% of Svåheia and will now take full ownership.

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

contact:

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

Ole-Kristofer Bragnes, CFO, +47 917 03 415, [email protected]

Christian Helland, CCO, +47 418 80 000, [email protected]

This information 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 (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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