Cloudberry Annual report 2021 Sustainability report 58 Units that are power-producing at year end are classified within “producing”, while other units that are under construction, ready for construction or is in concession process, (project inventory in the consolidated balance sheet) are classified within “construction”. Corporate overheads (OPEX) are allocated to the respective activities based on the proportionate value of assets directly related to the Taxonomy-eligible activity. Eligible turnover include the sale of products generated from wind or hydro electricity production or sales closely related to this activity. Closely related turnover may e.g., origin from sale of el-certificates or insurance settlement income (other income) due to a loss on a construction project of a wind farm. The denominator of the turnover KPI is “total revenue” (Note 12 in the Consolidated Group financial statements in the 2021 annual report). Eligible capital expenditures are investments in property plant and equipment, investment in associated companies or share in subsidiaries which have activities that are EU Taxonomy eligible. The denominator of capital expenditures is the CAPEX KPI and includes total additions to Intangibles and Tangibles (including capitalised leases), including those from business combinations and investments in associated companies. (Notes 5, 17 and 20 in the Consolidated Group financial statements in the 2021 annual report). Eligible operating expenses, include any of the following types of spend; cost of goods sold, salary and personnel expenses for employees working within eligible activities or within group overhead, other operating expenses directly related to the eligible activities or related to the group overhead. The denominator of the operating expenditure, OPEX KPI is “Operating expenses”, (Note 13 and 14 in the Consolidated Group financial statement s in the 2021 annual report). 100 per cent of Cloudberry`s turnover, operating expenses and investments are EU Taxonomy eligible in 2021. The table shows the turnover, CAPEX and OPEX per activity and the proportionate share of the Group’s total reported figures. Consolidated units: Fully owned assets under construction and in production Economic Activities NACE Codes Turnover (NOK) Revenue proportion CAPEX (NOK) CAPEX Porportion OPEX (NOK) OPEX Porpotion A: Taxonomy eligible activities Electricity generation from wind power – Production of electricity D35.1.1 2.8 7% - - -2.9 3% Electricity generation from wind power – Construction of utility projects for electricity F42.2.2 5.8 14% -452.4 55% -48.0 54% Electricity generation from hydropower – Production of electricity D35.1.1 32.3 79% -297.9 36% -35.8 40% Electricity generation from hydropower – Construction of utility projects for electricity F42.2.2 - - -78.8 10% -2.1 2% Total A: Taxonomy eligible activities 40.9 100% -829.1 100% -88.9 100% B: Taxonomy non-eligible activities - - - - - - Total A and B 40.9 100% -829.1 100% -88.9 100% Way forward Cloudberry continues its assessment of economic activities in accordance with the EU Taxonomy. Assessments are carried out to evaluate Cloudberry`s alignment to the technical screening criteria in the EU Taxonomy. Internal analysis and estimates of life cycle greenhouse gas (GHG) emissions from Cloudberry’s producing hydro power assets indicate emissions significantly below the threshold set out in the EU Taxonomy (100g CO2e/ kWh). Reporting on Lifecycle GHG emissions, Power Density of the Electricity Generation Facility (above 5 W/m2), Do No Significant Harm (DNSH) and Minimum Safeguard principles will be assessed going forward
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