3 Cloudberry Annual report 2022 Introduction Cloudberry in brief Cloudberry is a renewable energy company, born, bred, and operating in the Nordics. We own, develop, and operate hydropower plants and wind farms in Norway, Sweden and soon in Denmark. We are powering the transition to a sustainable future by providing new renewable energy today and for future generations. We believe in a fundamental long-term demand for renewable energy in Europe. With this as a cornerstone, we are building a sustainable, scalable, efficient, and profitable platform for creation of stakeholder value. Cloudberry`s growth strategy Our current portfolio in Norway and Sweden consists of 28 hydropower assets and 51 wind turbines (in four projects), wholly or partially owned. Before summer 2023, we expect to add another 51 wind turbines primarily in Denmark to the portfolio. We have a local and active ownership strategy and prefer majority ownership; however, in certain investments we have shared ownership with strong, strategic partners. The scalable Cloudberry platform is positioned for profitable growth, both in terms of energy production and our in-house development backlog and pipeline. Cloudberry’s strategy is to continue to grow both organically and through acquisitions in the Nordic market. We are backed by strong owners and an experienced management team. Our shares are traded on Oslo Stock Exchange’s main list, ticker: CLOUD. Cloudberry`s business model Our business model is based on three revenue generating segments and one cost-efficient corporate segment. Development is a green-field developer for both onshore and off-shore projects. Development has a solid track record of organic, in-house developments of wind and hydropower assets in Norway and Sweden. Production is an active owner of renewable power assets in the Nordics. Operations, 60% owned, is an asset manager and operator of hydro and wind assets including digital solutions with a scalable operating platform. Our strong commitment to local communities and our integrated value chain ensures local presence and optimization of stakeholder alignment and value creation. Our Nordic clean renewable platform Operations Development Production Our Values Be Supportive • Be Committed • Be Bold • Be Exceptional
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