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

28 May 2025 17:00 CEST

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

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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