Cloudberry Clean Energy ASA · OSL:CLOUD
Cloudberry Clean Energy ASA — Investor Day (September 2022)
47 slides from Cloudberry Clean Energy ASA's investor day presentation, Sep 1, 2022
Slide 1: Capital Markets Day 2022
Q Cloudberry Capital Markets Day 2022 01 September 2022
Slide 2: Disclaimer
Disclaimer This company presentation (the "Presentation") has been prepared by Cloudberry Clean Energy ASA (the "Company") and its subsidiaries (together the "Group" and is made solely for information purposes. This Presentation does not constitute any recommendation to buy, sell or otherwise transa
Slide 3: Agenda
Agenda 0 Corporate/ESG (2 } Volue - market update 7) Closing remarks 12:00-12:30 12:30-13:00 13:00-13:30 13:30-13:45, 13:45-14:15 14:15-14:45 14:45-14:50 Selselva
Slide 4: Cloudberry develops, owns and operates Nordic renewables
Cloudberry develops, owns and operates Nordic renewables Local developer, owner and operator of 4 hydro- and wind power in the Nordics - the responsible way @) Cloudberry %K Large and growing development backlog and pipeline both on- and off-shore Diversified and growing production portfolio. | “all
Slide 5: The Cloudberry family
The Cloudberry family hd 2 ¢ ian Wivon\ ‘Anders J. Lenborg Christian A. Helland ‘Jon Gunnar Soll Charlotte Bergqvist Ingrid Bjordal ‘Suna E. Alkan ‘Andreas Thon Aasheim Christian During Mario N. Gulsvik Roger Grondahl Chief Executive Officer Chief Value Officer Chief Operating Officer Chief Developm
Slide 6: Business overview
Business overview (net figures) Production Develop Production incl. under construction! Hydro assets: 28 Wind assets: 3 Capacity: 156 MW. Production: 522GWh (normalized) Sweden on i eee i é Gothenburg © Office @ production @ Under construction @ Construction permit @ sockiog 6 Note: 1) Asset portfol
Slide 7: Cloudberry's value creation through the value chain
Cloudberry’s value creation through the value chain Early-stage development y) Commercializing assets y Optimizing producing assets y + Convert acreage into projects o Hydro, wind and shallow water in the Nordics + Cloudberry’s developers have local knowledge and are hands-on when dealing with local
Slide 8: Company timeline 2012-2030
120 100 80 60 40 20 0 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030
Slide 9: Sustainability is at the core of our business
re ‘ ility is at the r business Sustainab ~eore of ou . In Cloudberry we take great pride in powering the transition to a sustai le future by providing renewable energy today and for future generations. — We develop, own, and operate our business in a responsible manner.
Slide 10: Sustainability reporting journey
Sustainability reporting journey Q dloudteerry Sustainability report Click here to download the Sustainability Report 2021 40 ‘TOFD = Task Force on Climate-Related Financial Disclosures 2ESG due diligence, Whistleblowing channel Completed first Sustainability Report in accordance with the World Econ
Slide 11: Reporting in full transparency
Reporting in full transparency a Global Reporting Initiative (GRI) and World Economic Forum (WEF) Stakeholder Capitalism Metrics Corporate governance Good corporate governance - the foundation for value creation and trustworthiness Greenhouse Transparency Equality Accounting Corporate a Gas Protocol
Slide 12: Creating value with ESG
Creating value with ESG .. are reflected in the way we go Our values and our purpose... about our business ... C5 Re * We develop and produce renewable energy + Actas a trustworthy company ee Ws * Take climate action Supportive Commitment + Avoid emissions wherever we can improvement + Alignment to
Slide 13: Becoming the leading Nordic Independent Power Producer (IPP)
Becoming the leading Nordic Independent Power Producer (IPP) Key focus points for Cloudberry: Be a local partner, which is present for landowners, developers and local contractors and suppliers Continued growth of our production portfolio with the complimentary renewable assets hydro and wind Flexib
Slide 14: Accelerating Development
Q Cloudberry Accelerating Development Capital Markets Day | 1 September 2022 Charlotte Bergqvist, Chief Development Officer
Slide 15: Outlook Sweden — acceleration of demand
Outlook Sweden — acceleration of demand * Electrification of industry, new green Swedish power demand estimates industries and transports drive the need for 4 Power demand (TWh) new added renewable capacity SE1 n 35 || 2021 2030 2050 * Electricity consumption expected to triple until 20501 © 2030: 2
Slide 16: Outlook Norway - restarting wind energy developments
Outlook Norway - restarting wind energy developments 6 Norway finally to resume its licensing process for onshore wind power developments after a three-year stop Cloudberry well-positioned for restarting its development in close collaboration with local stakeholders Impact assessment program for per
Slide 17: Development - the process
Development - the process Early development Development Local stakeholder dialogues, permission processes and grid access power construction Procurement & construction Q Cloudberry
Slide 18: Development - the portfolio
Development - the portfolio Early development Development Construction 5 Stenkalles” ov S oo Capacity: net 50 MW 52 Pipeline Production: net ~ 164 GWh Ss * Projects: 5-10 Hafslund to own 50% e & * Geography: Sweden (ome) xo o Bjérnetjarnsberget Munkhyttan o Backlog + Capacity: ~ 90 MW * Capacity: 18
Slide 19: Unsubsidized, shallow-water offshore wind in the Nordics
Unsubsidized, shallow-water offshore wind in the Nordics IStenkalles Vind Karlstad \, Permitted area for —_———— Vindpark Vanern existing 30 MW) Turbines: 18 Capacity: 100 MW Production: ~ 330 GWh Hafslund to own 50% Nykoping Stinkdping ,Visby {Kalmar | Stenkalles Ff Neen enced 9 Offshore wind costs
Slide 20: Nearshore pipeline requires local knowledge
Nearshore pipeline requires local knowledge Oslo, Vasterds, Karlstad Orebro Project development/ portfolio JOnképing Goteborg, Vaxjé. Karlskgona Stockholm Nyk6ping Ostersj6n Pipeline > 2500 MW, mainly Baltic Sea Duplicate knowledge from Stenkalles Vind Target is 2-3 fully consented projects by 2030
Slide 21: Development - The Cloudberry way
Development - ”The Cloudberry way” * Find the right locations o Early evaluations and pre-studies to understand the environmental impact and local conditions to find the most suitable projects * Find the right solutions o Identify ways to work locally and engage local stakeholders early o Find the m
Slide 22: Production
Q Cloudberry Production Capital Markets Day | 1 September 2022 Jon Gunnar Solli, Chief Operating Officer
Slide 23: Agenda - Production
Agenda - Production 0 Power production and power sales 2) Portfolio and portfolio construction 3] Operational model Selselva
Slide 24: Production of electric power
Production of electric power 24 Production based on the natural elements - wind and water Wind power © Typically 3 bladed driven by wind with the electricity generator inside the nacelle o Standardised turbines based on size and provider Hydro-power plants are tailor made and based on 3 main types o
Slide 25: Sales of electric power
Sales of electric power Physical power * Physical power is traded through NordPool o NordPool is the legal counterparty on both the buy and sell side * Day ahead producers have to report next days production * Day ahead suppliers have to report next days demand * If reported production deviates from
Slide 26: Portfolio overview
Portfolio overview Additional backlog of 420 MW not included in overview MW 400 300 200 100 Expected in production 2022 Portfolio construction * Current portfolio (producing and assets under construction) has an expected 324 annual production of 522 GWh (156 MW) oo) * Main considerations in portfoli
Slide 27: Monthly production profile hydro and wind
• 25% • 20% • 15% • 10% • 5% 0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec • Hydro Wind • • •
Slide 28: Difference in precipitation - geographical diversification
Difference in precipitation - geographical diversification Winter 2020-2021 Precipitation in percent of normalized Bows Os» Oar Cn C100 - 125, Ore-10 Bw-in a (a. 280 28 Winter 2020-2021 had precipitation well above normal levels in south and south-east Winter 2021-2022 Precipitation in percent of no
Slide 29: Portfolio diversification — price areas
Portfolio diversification — price areas Portfolio region mix 2022 and 2025 =NO1 =NO2 =NO3 =NO4 =NOS5 =SE3 Sweden * |llustrative production mix based on the current portfolio incl. under construction and permitted project at estimated completion dates » New connector between NO and NOS has been given
Slide 30: Favorable portfolio characteristics
Favorable portfolio characteristics * State of the art turbines with high quality producers — on average turbines and generators are 1.9 years old (production weighted) * We always look for special characteristics and opportunities when we acquire a new hydro plant o Possibilities to actively contro
Slide 31: Røyrmyra, Nessane, Odal acquisitions
Røyrmyra Nessane Odal EV at acquisition (NOKm) EV at acquisition (NOKm) EV at acquisition (NOKm) EBITDA - 2022 illustrative (NOKm) EBITDA - 2022 illustrative (NOKm) EBITDA - 2022 illustrative (NOKm) • • • •
Slide 32: Value sensitivities - Han Case study
Value sensitivities - Han Case study (by Newsec Infra) Assumption Downside Base case Upside Base case EV of EUR 58.4m P Volue NO1 Power prices -10% SR AEEDENWA +10% 52.3 Cee 64.6 Energy yield P50 -5% 74.000 MWh (P50) P50 +5% 55.5 61.4 . 4.5% (2022), 3.0% (2023), 4.5% (2022), 3.0% (2023), 4.5% (2022)
Slide 33: Cloudberry's operating platform
Cloudberry’s operating platform PROXIMA ith SpareBank HydroTech 2 Captiva Support Day to day Maintenance & functions operation internal control ON Vestas. Highly scalable, flexible and cost efficient — plug and play model for new assets 33 Q Cloudberry fe) () Local landowner
Slide 34: Operations
Q Cloudberry Operations Capital Markets Day | 1 September 2022 Stig JU. Ostebrot, Chief Technology Officer
Slide 35: Captiva: maximizing renewable asset performance
Pane Operations dh — | Captiva Maximizing renewable asset performance with insight 4 & Management Digital Solutions Team of 25+ technical and Unique user driven Team of 15+ software developers commercial industry experts software development and industrial data scientists Service strategy Product st
Slide 36: Mission and Purpose
roms Operations dh oF Captiva Maximizing renewable asset performance with insight Mission I f Purpose Increasing renewable energy production without negative environmental impact 36 Q Cloudberry
Slide 37: Clients
Clients 7 — Q cloudberry smakraft’ Bw Captiva HA Hydro At Wind 3 WPPs* / 74 MW Management 4B sinpps* /163 Mw @ wre j2amw ; 9.WPPs/ 1236 MW EME) GS 8-10HPPs/30MW — @B 2wePs/ 149 MW f= 1 wePs /90 Mw Market placement 4 303Hpps/9simw = 4 2 wpPs/19 MW > 432 HPPs / 1676 MW <B r2Hpps/13 mw Digital Solution
Slide 38: Digital Solutions: Current products
Digital Solutions: Current products Portal Tyde Management tool collecting and Analytic tool on streamed sensor data visualizing high-level data to increase performance 38 Q Cloudberry
Slide 39: Digital Solutions: Current products
Digital Solutions: Current products Portal Tyde Management tool collecting and visualizing high-level data Analytic tool on streamed sensor data to increase performance Q Cloudberry 39
Slide 40: Portal: visualization and high-level analysis of data
‘lr Visualization and high-level analysis of data on production, revenues, weather ete ae Always updated with live data and prognosis based on forward prices | Benchmarking of more than 400 power plants in Ie addition to weather based benchmarking © Fully transparent information flow to all stakehol
Slide 41: Digital Solutions: Current products
Digital Solutions: Current products Portal Tyde Management tool collecting and visualizing high-level data Analytic tool on streamed sensor data to increase performance Q Cloudberry 41
Slide 42: Example of data analytics with Tyde (1:2)
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Slide 43: Example of data analytics with Tyde (2:2)
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Slide 44: Cloudberry leveraging on service & digital strategy
Cloudberry leveraging on service & digital strategy — ® @ Develop Production Operations Backlog Assets Digital Solutions Pipeline and deal-flow A complete, modern Organizational scale power company with Value creation solid growth base Integrated digital strategy 44 Q Cloudberry
Slide 45: ESG in practice
ESG in practice @ 45 Systematic compliance monitoring on permit requirements, e.g. minimum water flow Professional and scalable internal control systems available for all parties in a fragmented industry Fully transparent and live information flow easily available to all stakeholders (Portal) Web-ba
Slide 46: Summary
Summary Maximizing renewable asset performance with insight Management ae Dig ital Solutions * Data-driven operator and manager of wind and hydro plants in the Nordics ¢ User-driven development of industrial digital solutions, for own use and separate product strategy 46 Digitized assets Owned asset
Slide 47: Cloudberry is a renewable energy company
Cloudberry is a renewable energy company, born, bred, and operating in the Nordic and in accordance with local traditions. We own, develop, and operate hydropower plants and wind farms in Norway and Sweden. We are powering the transition to a sustainable future by providing new renewable energy toda
Cloudberry Clean Energy — Investor Day (September 2022) on 6ix