Cloudberry Clean Energy ASA

Share Issue/Capital Change • Jun 1, 2021

Cloudberry Clean Energy ASA | Key information regarding potential Repair Issue

Cloudberry Clean Energy ASA | Key information regarding potential Repair Issue

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN

OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS,

ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE

"UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION

OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, SOUTH AFRICA OR ANY OTHER

JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Oslo, Norway, 1 June 2021: Reference is made to the stock exchange notice

published on 1 June 2021, regarding the successful private placement of

86,000,000 new shares (the "Private Placement") in Cloudberry Clean Energy ASA

("Cloudberry" or the "Company"), where it is announced that the Company will

consider to launch a repair issue of up to 2,000,000 new shares with non

-tradable subscription rights directed towards eligible shareholders (the

"Repair Issue").

Key information

Date on which the terms and conditions of the Repair Issue were announced: 1

June 2021

Last day of trading including right to receive subscription rights: 1 June 2021

First day of trading exclusive right to receive subscription rights: 2 June 2021

Record Date: 3 June 2021

Date of approval: To be determined

Maximum number of new shares: 2,000,000

Subscription price: NOK 12.50 per share

Maximum gross proceeds: NOK 25,000,000

Will the subscription rights be listed: No

The Repair Issue is subject to (i) the completion of the Private Placement, (ii)

required corporate resolutions and (iii) the publication of a prospectus in

accordance with applicable legislation.

The formal resolution (including the final number of new shares to be offered)

related to the Repair Offering will be made by the Company's Board of Directors

following the general meeting to be held on or about 17 June 2021 and the

approval and subsequent publication of a prospectus prepared in connection with

the Repair Offering.

The Company's Board of Directors may in its sole discretion decide that the

Company shall not carry out the Repair Issue, for example if the prevailing

market price of the Company's share trade lower than NOK 12.50 per share, which

will allow the shareholders wishing to reduce the dilutive effect of the Private

Placement to acquire the shares in the market at similar price and thus make the

Repair Issue redundant.

For further information, please contact:

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

Christian Helland, CVO, +47 418 80 000, ch@cloudberry.no

Suna Alkan, CSO, +47 913 02 907, sa@cloudberry.no

This information is subject to the disclosure requirements set out in the

Euronext Growth Oslo Rule Book. This stock exchange announcement was published

by Suna Alkan, CSO at Cloudberry Clean Energy ASA on 1 June 2021, at 23:55 CEST.

About Cloudberry

Cloudberry Clean Energy ASA is a Nordic renewable energy company, owning,

developing, and operating hydro power plants and wind farms in Norway and

Sweden. The Company`s purpose is to provide clean renewable energy for future

generations, developing a sustainable society for the long term and creating

value for our stakeholders. The Company believes in a fundamental long-term

demand for renewable energy in the Nordics and Europe, and purpose shapes every

aspect of how Cloudberry operates.

Cloudberry`s shares are currently admitted to trading on Euronext Growth Oslo,

supported by strong owners and led by an experienced management team and board.

The Company has initiated preparations for listing on Oslo Stock Exchange's main

list (Oslo Børs) in 2021. The Company is located in Oslo, Norway (main office)

and Karlstad, Sweden. To learn more about Cloudberry, go to www.cloudberry.no.