The Company's general meeting has 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 20,958.25 through issuance of 83,833
new shares at a subscription price of NOK 7.64 per share. The subscription price
represents a 15% discount on the closing price of Cloudberry's shares on 8 May
2024. Tove Feld, Petter W. Borg, Henrik Joelsson, Nicolai Nordstrand, Alexandra
Koefoed and Benedicte Fossum have subscribed for shares.

The new shares are subject to a three-year lock-up.

Following the issuance of the new shares, and prior to the completion of the
capital decrease resolved by the Company's general meeting on 16 April 2024, the
Company will have 291,453,937 shares outstanding, each with a nominal value of
NOK 0.25. The total share capital of the company will be NOK 72,863,484.25. The
company's Articles of Associations will be updated accordingly.

For further information please contact:

Christian Helland, CVO, +47 418 80 000, ch@cloudberry.no
Ole-Kristofer Bragnes, Senior Financial Officer, +47 91 70 34 15,
okb@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 (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