Cloudberry Annual report 2022 Introduction 4 Through 2022 we have focused on growing the project pipeline and moving power projects into producing assets generating long term cash flow for the company – on time and budget and with a strong ESG focus. Our Hån wind farm is an excellent example of a project developed in-house from the very start. Hån is now in full operation generating new renewable power to a geographical area that soon will be in need of more power to avoid power shortage. We doubled the production in Cloudberry from 2020 to 2021 and doubled the production again during 2022. Successful projects like Hån, Odal Vind and the hydropower plant Bøen were great contributors. In parallel with the sustainable development and construction of our projects we always focus on being well financed for all our projects. During 2022 we established a strong financial position to be able to act on opportunities and develop more renewable projects onshore and offshore. Building the offshore team in Sweden has also been a priority in 2022 and we are proud of the competent and diverse team we have developed during the year. In addition to our lake project Stenkalles, we have come a long way with the Baltic Sea shallow water project Simpevarp (800 MW). The Simpevarp project is a good example of how we work locally to develop a project. We want to go beyond just obtaining acceptance for a project, but through local involvement, transparency and sufficient information create a positive engagement for new renewable projects. We look forward to seeing more from the development team in Sweden over the next years. As a developer, owner, and operator of renewable energy assets we have placed sustainability at the core of everything we do and view it as essential to our long-term achievements and value-creation. We treasure our community and business partnerships, and work closely with our employees, business partners, shareholders, and local community members to create this value and share the rewards fairly. Our stakeholders expect us to operate our business in line with the strongest environmental, social, and governance (ESG) principles and we have the same expectation of ourselves, as well as of our partners and suppliers. We strive to live and breathe ESG in all we do. We hope our 2022 Sustainability Report will give you a deeper insight into Cloudberry’s ESG work in practice. We have also focused on strengthening the Cloudberry organization and portfolio in 2022 with the acquisition of the Captiva Group. We are happy to get fantastic new colleagues onboard and to see how well the different organizations have become integrated and are collaborating in developing and operating hydro- and wind projects in the Nordics. The Captiva Portal™ is for many of us the new Cloudberry’s purpose is to provide clean sustainable energy for future generations. We share a strong culture and everything we do reflects our purpose and our values. Because of this we always strive to see opportunities, make the right decisions, and do business in a sustainable way. This is our contribution locally and globally to the ongoing climate and energy crisis. Letter from the CEO Building The Leading Nordic Independent Power Producer
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