Cloudberry Clean Energy Asa · OSL:CLOUD
Cloudberry Clean Energy Asa — Pareto Securities' Energy Conference 2026
15 slides from Cloudberry Clean Energy Asa's conference presentation, Sep 16, 2026
Slide 1: Cloudberry Clean Energy
Cloudberry Clean Energy Uniquely positioned in a new energy reality Pareto Securities’ Energy Conference 16 September 2026 Dingelsundet (BESS), Sweden
Slide 2: A new energy reality in the Nordics
A new energy reality in the Nordics Sustained, high power Active M&A market with Europe’s hub for large - prices ongoing consolidation scale AI data centers • Rapid demand growth from data centers • Strategic refocusing among, e.g., • Demand for AI data centers is booming and electrification of indu
Slide 3: Power consumption will rise, driven by data centers and electrification
Power consumption will rise, driven by data centers and electrification Norway example Share of growth, Power consumption by source, Norway, 2027 - 35F, TWh 2027 - 35, % Inelastic (conventional) Industry Datacenter Electrolyzer and hydrogen - related (elastic) 178 +29 TWh 13% 172 173 175 167 154 157
Slide 4: Supply growth has stalled, with no new wind permits granted since 2019
Supply growth has stalled, with no new wind permits granted since 2019 Norway example New power generation, Norway, 2013 - 25, TWh (normalized annual production) Hydropower Onshore wind Solar PV x Onshore wind concessions granted, TWh 5.6 4.0 3.2 2.4 1.7 1.8 1.1 1.0 0.7 0.7 0.6 0.5 0.5 2013 2014 201
Slide 5: Power prices are expected to remain high
Power prices are expected to remain high Positive outlook for power prices (nominal prices) Key market drivers EUR/MWh – Forward and Thema Nordic price estimates (inflation adj .) 1 Near - term • Low reservoir levels 147 • High gas prices driven by conflict in 136 the Middle East 45% average realize
Slide 6: Cloudberry: End-to-end provider of renewable energy in the Nordics
Cloudberry: End - to - end provider of renewable energy in the Nordics In production Under construction 2.1 TWh ~6 bn NOK Construction permit Merchant - exposed production Market cap with >60 employees Backlog portfolio across the Nordics Sweden Norway 8 5 12 6 Integrated Diversified 9 13 3 7 HQ Osl
Slide 7: A new energy reality in the Nordics
A new energy reality in the Nordics Sustained, high power Active M&A market with Europe’s hub for large - prices ongoing consolidation scale AI data centers • Rapid demand growth from data centers • Strategic refocusing among, e.g., • Demand for AI data centers is booming and electrification of indu
Slide 8: Acquisition of Orrön Energy AB: A transformative next step in our journey of profitable growth
Acquisition of Orrön Energy AB: A transformative next step in our journey of profitable growth Cloudberry’s main transformative transactions, Acquisition of selected Orrön Annual estimated production (proportionate GWh) assets • Fully operating and diversified MLK (wind, FI) – portfolio some of the
Slide 9: The consolidator of the Nordic power market
The consolidator of the Nordic power market Favorable market dynamics Cloudberry well - positioned Nordic footprint and network Strategic refocusing among, e.g., Cloudberry has an ideal setup to create Extensive network across the Nordic international investors and major utilities value from transac
Slide 10: A new energy reality in the Nordics
A new energy reality in the Nordics Sustained, high power Active M&A market with Europe’s hub for large - prices ongoing consolidation scale AI data centers • Rapid demand growth from data centers • Strategic refocusing among, e.g., • Demand for AI data centers is booming and electrification of indu
Slide 11: Cloudberry is well positioned to develop powered land in the Nordics
Cloudberry is well positioned to develop powered land in the Nordics Developing large - scale powered land projects Well - positioned in a strong data center market together with local landowners Significant growth in demand for data Selbu site illustration Nordic data center market center capacit
Slide 12: Deep-dive: Skien
Location : Skien Size: Approx. 20 hectares (gross) Zoning: Ongoing detailed zoning Site profile: Hyperscale Deep - dive: Skien Grid: In Statnett queue (160 MW) Partner: Løvenskiold Fossum Cloudberry ownership: 40% 12 12
Slide 13: Deep-dive: Selbu
Location: Selbu Size: 20 hectares of net buildable area Zoning: Detailed zoning in place, partially levelled Deep - dive: Selbu Site profile: AI cloud Partner: Winn Eiendom AS Cloudberry ownership: 50% Nearby Tydal DC project (121 MW) 13 13
Slide 14: Cloudberry is uniquely positioned for the new energy reality
Cloudberry is uniquely positioned for the new energy reality Sustained, high power Active M&A market with Europe’s hub for large - prices ongoing consolidation scale AI data centers The leading Nordic IPP with a The Nordic consolidator with strong Leveraging our expertise and local merchant - expose
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