5 Cloudberry Annual report 2022 Introduction Anders J. Lenborg Chief Executive Officer favourite source of information for managing our power production portfolio. The recent acquisition of the Odin portfolio in early 2023 is a game changing step into the Danish market creating a strong and diversified position for Cloudberry throughout the Nordics. The partnership with Skovgaard is a new important step to build the Nordic Independent Power Producer with both a strong producing portfolio and access to new development projects in the Danish market. Looking into the future we believe the demand for renewable energy in Europe will increase. We are certain that the “RePowerEU” initiative introduced by the EU will further speed up the process of developing more new renewable energy in the coming years. The ongoing energy transition will also lead to continued high power prices in our relevant price areas into 2023 and onwards. Cloudberry is well positioned for the massive energy demand in the Nordics and Europe. Our company’s strong commercial and sustainable performance in 2022 against a backdrop of continued unrest and volatility caused by pandemic, war and regulatory challenges in Europe would not have been possible without the bold and exceptional performance from all Captiva and Cloudberry colleagues. I would like to thank all my colleagues for their hard work and commitment during a game-changing year. I also thank the Board for it’s engangement and valuable input throughout the year, and our shareholders for their continued support. Together we create the Leading Nordic Independent Power Producer. We are building our business for the long term. We are building our business for all of us. “We believe the demand for more renewable energy in Europe will increase”.
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