Cloudberry Clean Energy Annual report 2020

11 Cloudberry Annual report 2020 Introduction Forte Norway AS is an associated company with Fontavis (member of Swiss Life) where Cloudberry is the local manager and owns 34% of the portfolio. Odal Vindpark AS is an associated company with KLP (Norwegian pension fund) and Akershus Energi that is currently under construction. Cloudberry also signed a Sale and Purchase Agreement with Downing LLP in January 2021 for Rewind Vanern AB, a 100 MW shallow water project in the lake of Vanern, Sweden. Project Ownership Effect (MW) Est. prod. (GWh) Signed SPA Financial Close Revenue generating Part of Cloudberry's balance sheet Status 31.12.2020 Finnesetbekken 100 % 1 3 2019 Completed 2020 Plant & eq. Producing Røyrmyra 100 % 2 8 2019 Completed 2020 Plant & eq. Producing Forte (14 plants) 34 % 24 85 2020 Completed H2 2020 Equity method Producing Selselva 100 % 5 20 2020 H1 2021 H1 2021 From 2021 Producing Nessakraft 100 % 9 34 2019 H1 2021 H1 2021 From 2021 Under const. Bjørgelva 100 % 3 7 2019 H1 2021 H1 2021 From 2021 Under const. Odal Vind 15.0 % 24 79 2020 Completed H1 2022 Equity method Under const. Odal Vind (option) 1) 18.4 % 30 97 2020 H1 2021 H1 2022 From 2021 Under const. Åmotfoss 100 % 5 23 2020 H2 2021 H2 2021 From 2021 Under const. Hydro (3 plants) 100 % 6 20 2020 H1 2021 2021/2022 From 2021 Prod./constr. Total 1 (Producing/under constr.) 109 376 Vanern 2) 100 % 100 348 2021 2021 2023/2024 Inventory Constr. permit Hån 100 % 21 70 In house In house 2022/2023 Inventory Constr. permit Duvhalllen 100 % 30 80 In house In house 2023/2024 Inventory Constr. permit Total 2 (incl. constr. permit) 260 874 1) Cloudberry purchased 15% of Odal Vindpark AS in December 2020. Option, June 2021 to purchase additional 18.4% (total 33.4%). 2) Rewind Vanern AB owned 100% by Cloudberry per 31.12.2020. SPA signed Jan. 2021 with Downing LLP to divest 80%. Producing Under construction Construction permit 1 2 24 MW 5 9 3 24 30 5 6 109 100 21 30 260 0 50 100 150 200 250 300 Total 2 Duvhalllen Hån Vanern Total 1 Hydro (3 plants) Åmotsfoss Odal (+18.4%) Odal (15%) Bjørgelva Nessakraft Selselva Forte (34%) Røyrmyra Finnesetbekken