Oslo, Norway, 27 June 2024: Cloudberry ("Cloudberry" or the "Company") has today
entered into a share sale and purchase agreement with Cadre AS ("Cadre) for the
sale of the three hydropower plants: Usma, Bjørgelva and Finnesettbekken (the
"Transaction"). These hydropower plants have a combined estimated annual
production slightly below 36 GWh, primarily located in NO3 and NO4 and are
considered the least strategic hydropower assets for Cloudberry. The transaction
underscores significant value creation across Cloudberry's value chain with a
sale price exceeding 2.3x the booked equity of the hydropower plants, resulting
in an internal rate of return (IRR) of approx. 28% p.a .

The total transaction value is NOK 320.5 million on a debt and cash free basis.
The equity value of the shares to be sold is NOK 190.6 million, realizing a
substantial gain for Cloudberry. This transaction exemplifies Cloudberry's
strategy of recycling capital to drive value creation.  Including the repayment
of internal loans, the Transaction will generate approximately 205 million in
free cash for Cloudberry, which will be reinvested to expand the renewables
portfolio.

The transaction is structured as a sale of shares in Usma Kraft AS, Bjørgelva
Kraft AS, and Finnesetbekken Kraftverk AS. The transaction is expected to close
28 June 2024 and is not subject to any conditions.

"We are pleased to once again demonstrate significant value creation and
effective capital recycling to our investors, highlighting the attractiveness of
our asset portfolio", says Anders Lenborg, CEO Cloudberry.

Founded in 2023, Cadre has quickly become a large Norwegian small-scale
hydropower company. The company is majority-owned by Nordkraft and HitecVision.

"These assets fit our strategy very well.  We will be able to utilize these
assets' full potential as we are structured in a way that reduces our operating
expenses with each asset added," says Carl-Fredrik Lehland, CEO of Cadre.

For further information, visit our company and IR website www.cloudberry.no or
contact:
Anders Lenborg, CEO, +47 934 131 30, al@cloudberry.no
Christian Helland, CVO, +47 418 80 000, ch@cloudberry.no
Ole-Kristofer Bragnes, Senior Financial Officer, +47 917 03 415,
okb@cloudberry.no

For further information about Cadre, please visit cadre.no or contact:
Carl-Fredrik Lehland, CEO Cadre +47 95 298 298, cf@cadre.no

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17, Section 5-12 the Norwegian Securities Trading Act
and the requirements of the Oslo Rule Book II - Issuer Rules. This stock
exchange announcement was published by Ole-Kristofer Bragnes, Senior Financial
Officer at Cloudberry Clean Energy ASA on 27 June 2024, 08:00 CEST.

About Cloudberry Clean Energy:
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, Eskilstuna, Sweden and Lemvig, Denmark. To learn
more about Cloudberry, go to www.cloudberry.no.