Cloudberry Clean Energy ASA · OSL:CLOUD
Cloudberry Clean Energy ASA — Investor Presentation (May 2021)
26 slides from Cloudberry Clean Energy ASA's investor presentation, May 2021
Slide 1: Cloudberry Company Presentation May 2021
Q Cloudberry Company Presentation May 2021
Slide 2: Important information
Important information + 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 oth
Slide 3: Introduction to Cloudberry
Introduction 4 to Cloudberry |
Slide 4: Cloudberry owns, operates and develops Nordic renewables
Cloudberry owns, operates and develops Nordic renewables Local owner, developer and operator of renewable power assets in the Nordics Large production portfolio, with both hydro and wind assets Large and growing development backlog and pipeline Solid development track record — 11 projects developed
Slide 5: Diversified and growing portfolio of Nordic hydro and wind power assets
Diversified and growing portfolio of Nordic hydro and wind power assets rrocucton ® (incl. under construction) Construction permit Backlog Hydro assets: 22 + Wind assets: 3 Projects: 13 Wind assets: 2 * Capacity: 101MW?) Capacity: 380 MW Capacity: 109 MW + Production: 309 GWhi2) Flexible development
Slide 6: The value creation happens in both of our two business segments
The value creation happens in both of our two business segments Acquire selected assets Q Cloudberry Divest selected assets Target: Equity IRR of 6-9% | Production Portfolio equity IRRs (after tax): Target: 12% Equity IRR of >15% Develop 50 MW p.a. with targeted realization price of NOK 1.5-3m per M
Slide 7: Capability to develop & own - Target to transact at maximum value
Capability to develop & own - Target to transact at maximum value Cloudberry’s development portfolio: > 2500 MW | 380 MW 101 MW) Construction permit Q Identification of opportunity OQU Negotiations and concessions FE] conetrction permit Decision point: Keep vs. divest or farm down? — eee ~ Keep and
Slide 8: Constructing Odal windfarm alongside tier partners
Constructing Odal windfarm alongside tier 1 partners Ownership structure!” Net production Net capacity 176 GWh” 54 Mw) ’ : Q Cloudberry Equity IRR Estimated COD 12% H1-2022 * Option to increase ownership from current 15% to 33.4% during Q2-2021 © Option exercisable until 30 June 2021 * Equity invest
Slide 9: Value of first shallow-water wind project crystallised
Value of first shallow-water wind project crystallised The Vanern Project Wind development in Sweden’s largest lake Net capacity Turbines Partner 8 4 Oo 20 MW 16 Downing LLP Rewind Divestment price Project capex Cloudberry ownership wate NOK ~3m/MW NOK ~1.7bn®) 20% * Signed share purchase agreement
Slide 10: Becoming a substantial developer of shallow-water wind
Becoming a substantial developer of shallow-water wind » Ambition to develop 2.5 GW offshore wind power in the Baltic Sea area by 2030 Focus on shallow-water wind . . . . . licensing in the Baltic Sea * Currently working on consultation papers and conducting meetings with local » %, we stakeholders
Slide 11: Positive Nordic power market outlook
Positive Nordic power market outlook Power price forecasts 2030-2040 (NOK (are)/kWh) Very positive price development; average monthly Nordic system price of EUR 41.2/MWh (Jan-Apr 2021) Statnett expecting ~40% increase in Nordic power consumption by 2040, largely due to electrification of power inten
Slide 12: Integrating sustainability into our business strategy and operations
Integrating sustainability into our business strategy and operations * Strengthened our sustainability management Initiated assessment of our climate related financial risks and opportunities (TCFD) Reporting on carbon emissions following the guidelines in the Greenhouse Gas Protocol (GHG) Sustainab
Slide 13: Update on growth opportunities
Update on growth opportunities
Slide 14: Our strategies for growth and value creation in the Nordics
Our strategies for growth and value creation in the Nordics y > ae IONS Organic development ‘t In-house development of projects for production portfolio or sale/farm-down (construction permit, backlog and pipeline) \. y Source: Cloudberry 4 (@ >) Vat Asset / project acquisitions ‘it Acquire assets a
Slide 15: Uplisting to OSE main list and considering new equity raise
Uplisting to OSE main list and considering new equity raise 5 Uplisting to OSE main list Considering new equity raise Uplisting to the Oslo Stock Exchange’s main list 0° Following the flexible listing process, and in process of preparing listing application and prospectus Considering raising new equ
Slide 16: Progressing our near-term, highly attractive in-house developments
Progressing our near-term, high y attractive in-house developments Production capacity (Mw) Han Duvhdllen sum In-house ‘ In-house ! In-house aN aN aN 81 60 2 940 Capital 620 requirement / 320 structure (NOKm) Equity Debt Project capex/EV Equity Debt Project capex/EV Equity Debt Project capex/EV Est.
Slide 17: Han windfarm planned to be constructed for production portfolio
Han windfarm planned to be constructed for production portfolio ae = Production Capacity Marker windfarm 54 MW 74GWh 21MW Estimated equity IRR Estimated COD 12% 2022 * Civil works targeted to commence H2-2021 © Following final ratification of power export agreement which will allow produced power to
Slide 18: Duvhollen windfarm planned to be constructed for production portfolio
Duvhéllen windfarm planned to be constructed for production portfolio 18 Civil works targeted to commence in 2022 © Following expected approval of increased grid capacity to match construction permit of 10 turbines (60 MW) Project capex estimated to NOK 620m Estimated equity IRR well above company t
Slide 19: Han and Duvhollen will increase the net secured production portfolio
HG&n and Duvhiallen will increase the net secured production portfolio capacity by 63% +81MW/+63% 210 MW 129 MW (109 MW in production and under construction + 20% of Vdnern project) Net secured production” Net secured production incl. organic opportunities?) Note: All figures presented as net figure
Slide 20: Delivering on our growth strategy
Delivering on our growth strategy Unique Nordic renewables platform Substance - production portfolio increased ~7x from 2020 to 2021 Project portfolio progressing well — Han and Duvhallen projects offering double digit equity returns and 63% increase in net secured production capacity Nordic power p
Slide 21: Appendix
Appendix
Slide 22: 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 Group Accounting Manager © “ oI 12 A r Sebastian Prause Elisabe
Slide 23: Years track-record from development
10 years track-record from development 11) projects developed and divested over the last decade * Attractive development portfolio of mainly Swedish Pro Production C ity Year t ‘ ject (wind) cation wind projects (GWh) (MW) realised , . T Vindpark AS Rogaland, N 101 39 201 * Development of projects t
Slide 24: Net secured production portfolio and construction permit projects
Net secured production portfolio and construction permit projects 20 210 MW — 24 32 2 5 8 = 8 3 € g F g 2 3 5 5 Ee 3 g E 3% 3 3 2 3 y 2 z 3 3 a s 2 E 2 2 Fe 3 > 3 3 5 3 2 iS e 8 & @ 3 8 a 5 & 8 et 3 5 € E « 5 a 3 ao 3 E 2 a a o = 2 2 8 < 9 Ss g > =r Production Under construction Construction permit
Slide 25: Shareholder overview (10 May 2021)
Shareholder overview (10 May 2021) Shareholders # Shares % Shares JOH JOHANNSON EIENDOM AS. 16 145 780 18.37% HAVFONN AS (Bergesen family) 9168 596 8.73% SNEFONN AS (Bergesen family) 8558 472 8.15% State Street Bank and Trust Comp (Swedbank Robur) 6 783 799 6.46% CLEARSTREAM BANKING S.A. 3295 349 3.
Slide 26: Cloudberry.no
Q Cloudberry Cloudberry.no
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