Slide 1: First quarter 2023 report
Q Cloudberry First quarter 2023 report 11 May 2023
Slide 2: Disclaimer
Disclaimer This company presentation (the "Presentation" has been prepared by Cloudberry Clean Energy ASA (the "Company")and its subsiliaries (together the "Group") and is made solely for information purposes. This Presentation does not constitute any recommendation to buy, sell or otherwise transac
Slide 3: Agenda
Agenda Cloudberry in brief Highlights & overview Key Financials Outlook Selselva
Slide 4: Delivering on our strategy
Delivering on our strategy Q Cloudberry ___Our Portfolio _ Type Capacity) @ inproduction $y 24mMw | | @ Uncerconstruction 4 40 mw e @ Construction permit 128 Mw é Sweden gb GSP gO} @ 2K09 § som MN E@ Lox wy, Development Production Operations our) 2 6@ fe OP - @ Eskilstuno: 2 one f Local developer, o
Slide 5: An organic growth platform
An organic growth platform Efficient use of capital, maximizing shareholder value la NS Production {oh Q Cloudberry Free In-house cashflow A funding ' Proceeds H f ! {> Q) ----22-22-22-- == > Farm - down to lower qe ee eee ee ee eee cost of capital {op Development Keep selected assets / Q Cloudberry
Slide 6: Q1 2023 highlights: production and capacity
• • • • Q1 2022 Q1 2023 • • • • • YE 2020 YE 2021 YE 2022 YE 2023 (incl. constr.)
Slide 7: Odin positions Cloudberry as a leading Nordic IPP
Odin positions Cloudberry as a leading Nordic IPP igh strategic value Increased geographical diversification”) (production portfolio incl. construction) a? |e > Creates a diversified Diversifying Nordic portfolio production Up to 70% (106MW) increased production capacity”) Partnership with experienc
Slide 8: Portfolio overview
Portfolio overview Additional backlog of 486 MW notincluded in overview Mw 500 Legend 422 , - 400 Construction ao 60 300 294 a 32 254 og 200 ; 100 Fins, Royr. Forte Sels. Nessa Bjérg. Usma Amots.Tinnkr. Rams. Skar. Bgen Odal Hin Odin Total Kvem.Sundby Total Munk Duvh. Stenk. Total (34%) (33.4%) (80%
Slide 9: ESG update Q1 2023
ESG update Q1 2023 Main ESG Updates No health and safety incidents © Cloudbverry No material or environmental damages recorded Avoided emissions of 19,980 tCO2 during the quarter (6,438 tCO2e) Cloudberry’s Sustainability Report 2022 was published at the end of first quarter 2023: The key performance
Slide 10: Key Financials
Key Financials Hén
Slide 11: Q1 2022 vs Q1 2023 key figures
• • • • • • Q1 2022 Q1 2023 Q1 2022 Q1 2023
Slide 12: Total assets, equity, cash and interest-bearing loans
• • • • • • Total asset Total equity Cash and cash equivalents Interest-bearing loans and borrowings
Slide 13: Profit or loss (including segment reporting)
Profit or loss (including segment reporting) Consolidated financials NOK million Q12023 Q12022 FY 2022 Comments Revenue and other income 68 30 217 Development segment Netincome/(loss) from associated companiesand JV's 7 8 120 ; ; EBITDA 20 12 151 ~ Strong development in Sweden moving forward both pi
Slide 14: Revenue and EBITDA
• • • • • • Revenue EBITDA Revenue EBITDA
Slide 15: Significant growth in cash flow
Significant growth in cash flow Cloudberry Production segment. Illustrative EBITDA EBITDA (2020 - 2022) Since IPO in 2020 (proportionate) NOK million 262 2 43 —___ [| 2020 2021 2022 15 Illustrative EBITDA In NOK million Power price = EUR 120 pr MWh Power price = EUR 90 prMWh Power price = EUR 60 prM
Slide 16: Outlook & summary
Slide 17: Power price outlook 2012-2032
160 140 120 100 80 60 40 20 0 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032
Slide 18: Summary
Summary ° Significant growth in volumes and profitability * Odin, a transformational step into Denmark * Projects under construction are progressing according to time and cost ° Positive developments in pipeline and backlog projects