Cloudberry Clean Energy Annual report 2020

27 Cloudberry Annual report 2020 Board of Directors report Going concern According to Section 3-3 of the Norwegian Accounting Act, the Board of Directors confirms that the Financial Statements have been prepared under the assumption that the Cloudberry Group is a going concern, and that this assumption was appropriate at the date of approval of the Financial Statements. The consolidated Financial Statements for the Group include the operations of Cloudberry Clean Energy AS, its subsidiaries fully consolidated and associated companies, which are equity accounted. The Group reports its Consolidated Financial Statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union (EU) and the interpretations issued by the IFRS Interpretation Committee (IFRSIC) applicable to companies reporting under IFRS and also comply with IFRS as issued by the International Accounting Standards Board (IASB). The consolidated accounts are prepared with Norwegian Kroner (NOK) as the reporting currency. Oslo, 23 March 2021 The Board of Directors of Cloudberry Clean Energy AS Frank J. Berg Chair of the Board Morten Bergesen Board member Petter W. Borg Board member Benedicte Fossum Board member Liv Lønnum Board member Anders J. Lenborg CEO Cloudberry Clean Energy AS