Cloudberry Clean Energy Asa · OSL:CLOUD
Cloudberry Clean Energy Asa — FY2020 Earnings Presentation
27 slides from Cloudberry Clean Energy Asa's earnings presentation, Mar 24, 2021
Slide 1: Full-year 2020 presentation
Q Cloudberry Full-year 2020 presentation 24 March 2021
Slide 2: Important information
Important information * This company presentation (the "Presentation") has been prepared by Cloudberry Clean Energy AS (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 oth
Slide 3: Highlights and status update
Highlights and status update Anders Lenborg, Chief Executive Officer Sustainability Suna F. Alkan, Chief Sustainability Officer Financials and value Christian Helland, Chief Value Officer Outlook and opportunities Anders Lenborg, Chief Executive Officer
Slide 4: 2020: Cloudberry's Nordic growth platform established
2020: Cloudberry’s Nordic growth platform established Owns, develops and operates renewable power assets in the Nordics Increased production portfolio, with both hydro and wind assets Increased and growing development backlog and pipeline Our purpose is to provide clean energy for future generations
Slide 5: 2020: An eventful year for Cloudberry
2020: An eventful year for C yv Acquired Scanergy and CB Nordic Renewable & Infrastructure Fund | to form Cloudberry Clean Energy v_ Private placement of NOK 158 million and subsequent listing on Euronext Growth Y¥ Acquired 34% ownership stake in a producing hydropower portfolio (net 85 GWh) from Fo
Slide 6: Production and project portfolio overview
100 150 250 300 200 0 50 1 Fin.bekken MW 2 Røyrmyra 24 Producing Forte (34%) 5 Selselva 9 Nessakraft 3 Bjørgelva 24 Odal (15%) 30 Odal (+18,4%) 5 Åmotsfoss Under Construction 6 Hydro (3 plants) Total 109 Vanern 100 Hån 21 30 Duvhalllen Construction permit Total 260 • • • • • • • • •
Slide 7: Status update: our projects under construction
Status update: our projects under construction Production Production Project Type Location start Acquired estimate Status + Commissioning - all test results good Balestrand, June omw . , ; A Nessakraft Hydro Norway 4.2020 301 Bagh Planning for final Due Diligence in April + Expected financial close
Slide 8: Status update: our projects with construction permit
Status update: our projects with construction permit Production Production Project Type Location start estimate Status . * All concessions approved Han A Arang, 21MW » Awa i tyinelform Wind Sweaun 2022 sO Gwh Awaiting export license from Swedish government + Procurement process ongoing c- + All conc
Slide 9: 2021: Subsequent events
2021: Subsequent events Acquisitions / projects Handover of Selselva hydro power plant Signed SPA with Downing LLP on the Rewind Vdnern project Signed SPA on the Skarana hydro power plant Signed SPA on the Ramslldna hydro power plant Preparing for handover of Nessakraft and Bjargelva hydro power pla
Slide 10: Sustainability
Suna F. Alkan, Chief Sustainability Officer Sustainability
Slide 11: Integrating sustainability in our business strategy and operations
Integrating sustainability in our business strategy and operations <9 Strengthened our sustainability management pr Identify sustainability topics in our value chain @ Stakeholder dialogue 288 ey Initiated assessment of our climate related Sy LZ financial risks and opportunities (TCFD) Reporting on
Slide 12: Sustainability in figures: Emissions and EU Taxonomy
Sustainability in figures: Emissions and EU Taxonomy * Cloudberry delivers renewable energy solutions, contributing positively to an overall reduction in emissions EU Taxonomy * Cloudberry’s hydro power plants have estimated power densities far above 5 W/m? - highly efficient power plants relative t
Slide 13: Assessing ESG impacts throughout the lifecycle of our projects
Assessing ESG impacts throughout the lifecycle of our projects An integrated part of our ongoing business and work to determine detailed KPls pe a % i Identifaction Development Approval Construction Production Pipeline Backlog Construction permit Under construction In production Local environmental
Slide 14: Financials and value
Christian Helland, Chief Value Officer Financials and value
Slide 15: The strategy behind the financials
The strategy behind the financials Focus in 2020 ‘itl oF Growth Balance sheet Platform * Organic (in-house development) & inorganic growth (M&A) * Strengthening the balance sheet * Established a scalable, Nordic renewable platform * Rigged for listing on Oslo Bers (main list) 5 Focus in 2021 fitl xe
Slide 16: Income statement
(NOK 1 000) 2020 2019 Sales revenue 3 633 279 • Other income 7 0 • Total revenue 3 640 279 • Cost of goods sold -143 -27 • Salary and personnel expenses -17 419 -1 981 Other operating expenses -12 343 -877 • • Net income/(loss) from associated companies -3 556 0 EBITDA -29 822 -2 606 • • Depreciatio
Slide 17: Balance sheet
(NOK 1 000) 31.12.2020 31.12.2019 Property, plant and equipm ent 58 426 11 Goodwill 36 933 0 Inves tm ent in as s ociated com panies 337 080 0 • Financial as s ets and other non-current as s ets 2 358 0 Total non-current assets 434 797 11 Inventory 196 029 0 Accounts receivable Other current as s et
Slide 18: Value creation in our two segments
Value creation in our two segments Acquire selected assets 2 Cloudberry Divest selected assets Target: Equity IRR of 6-9% | Production Portfolio equity IRRs (after tax): 12% Royrmyto Forte selsetve Bjorgeva Nessakraft Amotstoes| Hydro portoto| dal Target: Equity IRR of >15% Develop 50 MW p.a. with e
Slide 19: Financing strategy
Financing strategy 9 Seek to maintain an optimised capital structure, taking both return and risk levels into consideration Several long-term alternatives available for financing, depending on project size, transaction type and counterparty, including: Existing cash & cash flow generation Flexible b
Slide 20: Outlook and opportunities
Outlook and opportunities
Slide 21: Nordic power market outlook
Nordic power market outlook Power price forecasts 2030-2040 (NOK (are)/kWh) Market 2020 PSY- Cloudberry secured a fixed price PPA for approximately 2/3 of revenue at 30 EUR/ MWh for 2020 Long term: A 40% expected increase in Nordic power consumption by 2040, f] largely due to electrification of powe
Slide 22: Cloudberry's growth opportunities in the Nordics
Cloudberry’s growt > Be 1085s Organic development {t In-house development of significant project portfolio Doubling our capacity in Sweden \. y Source: Cloudberry 22 h opportunities in the Nordics (@ >) Yaad Asset / project acquisitions ‘it Acquire assets and development project Several opportunitie
Slide 23: Delivering on our growth strategy
Delivering on our growth strategy A transformational year - creating a solid Nordic renewable platform Expect to increase new renewable production 7x within 12 months Scalable and efficient platform for growth with an exclusive backlog (370 MW) and pipeline of > 2,500 MW Focus on profitable growth g
Slide 24: Appendix
Appendix
Slide 25: Management and project team
ft Anders J. Lenborg Christian A. Helland Suna F. Alkan Jon Gunnar Solli Tor Arne Pedersen Marie N. Gulsvik Chief Executive Officer Chief Value Officer (CFO) Chief Sustainability Officer Chief Operating Officer Chief Development Officer ae] g Group Accounting Manager a ge tk Sebastian Prause Elisabe
Slide 26: Shareholders
Shareholders # Shares % Shares JOH JOHANNSON EIENDOM AS 16 145 780 15,37 % HAVFONN AS (Bergesen family) 9 168 596 8,73 % SNEFONN AS (Bergesen family) 7 833 273 7,46 % State Street Bank and Trust Comp (Swedbank Robur) 6 783 799 6,46 % CLEARSTREAM BANKING S.A. 3 205 750 3,05 % CCPARTNER AS (Chairman,
Slide 27: We provide clean renewable energy for future generations
We provide clean renewable energy for future generations. Q Cloudberry Cloudberry.no
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