Oslo, 28 March 2025 - Reference is made to the stock exchange announcement from
Cloudberry Clean Energy ASA (the "Company") published on 5 December 2024,
regarding the agreement entered into with Jørgen Skovgaard Holding ApS (the
"Skovgaard Agreement"). The transaction boosts production capacity in Cloudberry
by approximately 160 GWh in the Nordics' most profitable price areas. It also
secures a pipeline of high-potential projects and an experienced development and
asset management team in Denmark, enhancing local presence and fostering further
growth.

The Company is pleased to announce that the Skovgaard Agreement has been
successfully completed. The total enterprise value for the transaction is DKK
806m and the final purchase price for the shares is DKK 654m. Settlement of the
transaction is made partly by drawing on external debt under the current debt
facility equivalent of DKK 253m and partly by cash of DKK 82m. The remaining
will be financed by the issuance of 28,658,555 new shares in the Company at a
subscription price of NOK 17 per share (the "Consideration Shares").

"-Our partnership with Skovgaard and this latest transaction represent a
significant step toward establishing a leading Nordic independent power
producer," says Anders Lenborg, CEO of Cloudberry. "Cloudberry's valuation
underscores our strong renewable platform, and the transaction further
strengthens our ability to develop profitable and sustainable energy projects.".

Jørgen Skovgaard, founder and chairman of Skovgaard Energy, agrees. "- Investing
in Cloudberry is an investment in the future of Nordic renewable energy.
Together, we are building a more resilient and independent energy system,
leveraging our combined expertise to drive sustainable growth across the
region."

The Board of Directors has today resolved to issue the Consideration Shares as
partial settlement for the transaction, pursuant to an authorisation to issue
new shares granted by the Company's annual general meeting on 16 April 2024.

Following the issuance of the Consideration Shares, the Company's share capital
will be NOK 79,326,248, consisting of 317,304,992 shares, each share with a par
value of NOK 0.25.

For more information about the Skovgaard Agreement, and the strategic rationale
behind the transaction, please see the stock exchange announcement published by
the Company on 5 December 2024.

For further information, visit our company and IR website: www.cloudberry.no or
contact:
Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no
Ole-Kristofer Bragnes, CFO, +47 917 03 415, okb@cloudberry.no
Ingrid Bjørdal, CSO, +47 971 96 907, ib@cloudberry.no

This information is subject to the disclosure requirements pursuant to
regulation EU 596/2014 Article 19 and Section 5-12 the Norwegian Securities
Trading Act. This stock exchange announcement was published by Ole-Kristofer
Bragnes, CFO in Cloudberry Clean Energy ASA on 28 March 2025, at 17:05 CET.
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