Cloudberry Annual report 2022 Sustainability report 54 leases. (Notes 16 and 17 in the Consolidated Group financial statements in the 2022 annual report). Eligible operating expenses (OpEx) include direct costs related to the eligible activity, such as maintenance, repair, and variable lease. The denominator of the operating expenditure, OpEx KPI is “Other operating expenses” (Note 13 in the Consolidated Group financial statements in the 2022 annual report). 88% of Cloudberry`s turnover and investments, and 33% of operating expenses were EU Taxonomy eligible in 2022. The table shows the turnover, CAPEX and OpEx per activity and the proportionate share of the Group’s total reported figures. Alignment All of Cloudberry`s hydropower plants are aligned to the criteria of the EU Taxonomy, and verification statements are issued by the third-party Det Norske Veritas (DNV). The internal analysis found that the three wind power plants are aligned to the criteria of the EU Taxonomy, and a verification by DNV is currently ongoing and expected to be reported on during 2023. Cloudberry’s run-of-river hydropower plants and wind farms are within the substantial contribution criterion to climate mitigation, as there are no further requirements for such power plants. The hydropower plant with a reservoir is well within the substantial contribution criteria of 100 gCO2e/kWh calculated with EU’s G-res tool, as well as a power density above the limit. In addition to the substantial contribution criteria, the EU taxonomy has three criteria for “Do not significant harm” that apply to electricity generation from hydropower: Climate adaptation, Water and Biodiversity. To ensure no significant harm are done under Climate adaptation, Cloudberry has conducted physical climate risk assessments for each hydropower plant. These assessments identify the materiality of risks, document adaptation solutions and consider the potential environmental impacts for the physical climate risk mitigation strategy. To meet the criteria for Water, Cloudberry has implemented all feasible and ecologically relevant minimum water flow measures and all feasible and ecologically relevant measures to protect or enhance habitats. Additionally, we have established monitoring plans for these measures. This includes the measures described in the water management plans for 2022-2027, as well as additional measures where needed. Environmental Impact Assessments (EIA) have been conducted, and implementation of mitigation and compensation measures for protecting the environment have been documented. None of the hydropower plants are located near biodiversity-sensitive areas. For these reasons, Cloudberry considers the do no significant harm criteria for biodiversity to be met. For the wind power farms, the same internal analysis for physical climate risk assessments has been carried out, environmental impact assessments conducted and an assessment of the recyclability and durability of the material and components has been performed. The EU Taxonomy has a general minimum safeguard criterion for all economic activities. Cloudberry follows the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, and has assessed risk for anti-bribery, anti-corruption, remuneration of staff and tax compliance. The relevant governance practices (management structures, and whistle blower mechanisms) are documented. DNV has issued verification statements for each of Cloudberry’s hydropower plants. For the wind farms, the same exercise for physical climate risk assessments has been carried out, environmental impact assessments conducted and an assessment of the recyclability and durability of the material and components has been performed. Page 1 of 3 Cloudberry Clean Energy, BJØRGELVA DNV AS (henceforth referred to as “DNV”) has been commissioned by Cloudberry Clean Energy (henceforth referred to as “THE CUSTOMER”) to provide EU Taxonomy alignment verification for BJØRGELVA. DNV has concluded that BJØRGELVA aligns with DNV’s interpretation of the EU Taxonomy for Sustainable Activities for the eligible activity '4.5 Electricity generation from hyrdropower' as follows. * Date of issuance: 15/02/2023 Date of expiry: 15/02/2024 Reference number: 2023-0002
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