Exercising the option of aqusition of the shares in Odal Vind AS

Oslo, Norway, 30 June 2021: Reference is made to the stock exchange announcement dated 23 December 2020 regarding Cloudberry Clean Energy ASA ("Cloudberry" or the "Company") acquisition of 15% of the shares in Odal Vind AS (the "Odal windfarm") with the intention of acquiring up to 33.4% shareholding by 30 June 2021.

Cloudberry has today exercised the option to increase its shareholding from 15% to 33.4% in Odal windfarm. “This strategic acquisition is important to Cloudberry, and we are pleased to have exercised the option in accordance with the share purchase agreement”, says Anders Lenborg, CEO of Cloudberry.

The Odal windfarm is currently under construction in Innlandet, Norway and will be in full operation during first half 2022. The windfarm is developed together with experienced and local partners KLP and Akershus Energi.

For further information, visit our company and IR website www.cloudberry.no or contact:

Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no
Christian Helland, CVO, +47 418 80 000, ch@cloudberry.no
Jon Gunnar Solli, COO, +47 970 38 507, jgs@cloudberry.no

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Suna F. Alkan, Chief Sustainability Officer, Cloudberry Clean Energy ASA, on 30 June 2021 at 07:00 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 traded on Oslo Stock Exchange’s main list (Oslo Børs), supported by strong owners and led by an experienced management team and board. The Company is located in Oslo, Norway (main office) and Karlstad, Sweden. To learn more about Cloudberry, go to www.cloudberry.no.