Cloudberry Clean Energy Annual report 2020

Cloudberry Annual report 2020 Financial statements 108 Name of Entity Place of business Consolidated economic interest in 2020 Segment Princippal Activities Forte Energy Norway AS with SPV's. Assosiated company Norway 34 % Production Hydro power Odal Vindkraftverk AS Assosiated company Norway 15 % Production Wind power under construction The shares in Forte Energy Norway are held as collateral for interest bearing short-term debt to Fontavis of NOK 236.8m as per 31 December 2020. See note 24 Provisions, guarantees and other contractual obligations , this debt has been repaid 19 March 2021, see note 29 Subsequent events. The table show the summarised financial information in the Groups accounts for associated companies. The investments are accounted for using the equity method. NOK 1 000 Forte Energy Norway AS Odal Vindkraft AS Total Book value as 1 January 2020 - - - Additions of invested capital 237 551 103 086 340 637 Share of Profit/loss for the year -2 966 - -2 966 Depreciation of excess value -591 - -591 Dividend paid to the owners - - - Currency translation differences - - - Items charges to equity - - - Book value at 31 December 2020 233 995 103 086 337 081 Excess value 31 December 2020 141 194 7 184 148 378 Book value of equity at 31 December in associated company 92 800 95 902 188 703 The table shows the summarized financial information for the equity accounted companies. The figures apply to 100% of the companies’ operations. Revenue and balance total NOK 1 000 Forte Energy Norway AS Odal Vindkraft AS Total Revenue 2020 4 391 1 900 6 291 Operating profit -4 988 -4 445 -9 433 Profit for the year 2020 -8 723 -3 400 -12 123 Non current assets 31 December 2020 896 275 458 704 1 354 979 Total current assets 31 December 2020 61 129 47 391 108 520 Total cash and cash equivalents 32 072 217 778 249 850 Long term debt 31 December 2020 693 360 - 693 360 Short term debt 31 December 2020 23 174 84 524 107 698 Equity 31 December 2020 272 942 639 349 912 291 The table shows Cloudberry’s share of the summarized financial information on a line for line basis for the equity accounted companies.