Cloudberry Clean Energy Asa · OSL:CLOUD
Cloudberry Clean Energy Asa — Q1 2025 Earnings Presentation
22 slides from Cloudberry Clean Energy Asa's earnings presentation, May 13, 2025
Slide 1: Cloudberry Clean Energy First Quarter Report 2025
Q Cloudberry Cloudberry Clean Energy First Quarter Report 2025 13 May 2025 Q Cloudberry
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 transac
Slide 3: Agenda
Agenda Highlights & strategy Key Financials Market & summary Selselva
Slide 4: Q1 2025 highlights
Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 • • • YE 2020 YE 2021 YE 2022 YE 2023 YE 2024 Q1 2025
Slide 5: End to end provider of renewable energy in the Nordics
End to end provider of renewable energy in the Nordics The Cloudberry business model Type Capacity! Annual Production! e In production 4 346Mw & 1,069GWh . / wa > C1 S @ Under construction <@ 9GWh a0} {o} So yy, Q @ constructionpermit ¢ s12mw 438 GWh Develop 3 Own Sustainable @ cccxieg $ 1siemw é Sw
Slide 6: A diversified and growing production portfolio across the Nordics
A diversified and growing production portfolio across the Nordics Annual production Legend Norway Sweden Denmark Totals 2022 2024 Run-rate producing assets? 2020 Q Cloudberry 6 1) Annalrun-rate production for assets and projects under construction based on normalized production.
Slide 7: Profitable growth in the development portfolio, securing future growth
Profitable growth in the development portfolio, securing future growth Realized a ~NOK 500m gain in internal and external sales from development activities last three years Permitted projects and backlog Historic development realisations” Gain on sale ll Permitted Hl Backlog 2024 Munkhyttan (60 GWh)
Slide 8: Strategic growth initiatives
Strategic growth initiatives Danish expansion 160 GWh expansion Financed at ~52% share premium What Hydro asset swap Sale at 2.3x book value or 28% IRR p.a. in 2024 What aS Nees Hede Increased from 175 MW to 232 MW What. ws Holmen Partnership One of Sweden's largest land-owners What Dingelsundet Piv
Slide 9: Cloudberry's strategic focus 2025 and onwards
Cloudberry’s strategic focus 2025 and onwards Key items Profitability over growth Fully financed industrial platform Executing on our projects Accretive capital recycling to fuel growth Taking advantage of the cyclicality within the industry (flexible business model) Foous on the most profitable pro
Slide 10: Main ESG updates Q1 2025
Main ESG updates Q1 2025 No recordable HSE incidents or environmental damages in Q1 2025 No whistle-blowing incidents or breaches of compliance was detected in Q1 2025 Avoided emissions of 48,000 t CO2e during Q1 2025 compared to 40,500 t CO2e in Q1 20247) We are strengthening the safety culture by
Slide 11: Key Financials
Key Financials Mn Han
Slide 12: Proportionate assets, debt and consolidated equity
2020 2021 2022 2023 2024 Q1 2025 Proportionate Assets Proportionate interest bearing debt Consolidated equity
Slide 13: Total assets, equity and cash
• • • • • • • • • • Total asset Total equity Cash and cash equivalents Interest-bearing loans and borrowings •
Slide 14: Liquidity and commitments overview
Liquidity and commitments overview NOKm Can be drawn under Sundby and Munkhyttan (EUR 2m), existing debt facility for Qvre Ullestad (NOK 68m) Qvre Kvemma 62 -93 12025 proportionte cash Remaining capex Kvernma 14 EUR/NOK FX of 1141 Available liquidity Possibility to increase with NOK 300m through acc
Slide 15: Proportionate and consolidated EBITDA
2020 2021 2022 2023 2024 LTM Q1 2025 Proportionate EBITDA Consolidated EBITDA
Slide 16: Q1 2024 vs Q1 2025 comparison
• • • • • • Q1 2024 Q1 2025 Q1 2024 Q1 2025
Slide 17: Revenue and EBITDA by segment
• • • • • • • • Revenue EBITDA Revenue EBITDA •
Slide 18: Profit or loss (proportionate segment reporting)
Profit or loss (proportionate segment reporting) NOK million Q12025 Revenues and other income 152 Projects 1 Commercial 139 Asset management 12 Corporate ° EBITDA 62 Projects 6 Commercial 83 Asset management 1 Corporate 13 Power Production (Wh) 194 18 Q1 2024 139 173 Includes alternative performance
Slide 19: Market & summary
Market & summary Sundby
Slide 20: Market price outlook
160 140 120 100 80 60 40 20 0 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034
Slide 21: Perfectly positioned
Perfectly positioned Strategy Value Market a A flexible local renewable platform to push the energy transition in the Nordics Focusing on the profitable and uncorrelated technologies where we see the most value Delivering on our development and construction projects while increasing our project port
Slide 22: eo)
eo) Cloudberry
Cloudberry Clean Energy — Q1 2025 Earnings Presentation on 6ix