Cloudberry Clean Energy ASA · OSL:CLOUD
Cloudberry Clean Energy ASA — Investor Presentation (December 2021)
29 slides from Cloudberry Clean Energy ASA's investor presentation, Dec 8, 2021
Slide 1: Company Presentation 8 December 2021
Q Cloudberry Company Presentation 8 December 2021
Slide 2: Important information (1/2)
Important information (1/2) The information in this company presentation (the "Presentation") has been prepared by Cloudberry Clean Energy ASA (the "Company", and taken together with its subsidiaries the "Group") and is made solely for information purposes. This Presentation does not constitute any
Slide 3: Important information (2/2)
Important information (2/2) Neither the Company nor any of the Managers assume any obligation, except as required by law, to update or correct any information included in this Presentation. This Presentation has not been reviewed or approved by any regulatory authority. This Presentation has been pr
Slide 4: Table of contents
Table of contents Key financials per Q3-2021 Risk factors
Slide 5: Cloudberry develops, owns and operates Nordic renewables
Cloudberry develops, owns and operates Nordic renewables Local developer, owner and operator of hydropower and wind in the Nordics Large and growing development backlog and pipeline both on- and off-shore Q Cloudberry Diversified and growing production portfolio, with both hydro and wind assets High
Slide 6: Business overview per December 2021
Business overview per 8 December 2021 Proportionate production capacity of 340 MW (net to Cloudberry) including construction permits Production Develop td Production Construction permit Backlog incl. under construction * Hydro assets: 24 + Wind assets: 3 * Projects: 13 + Wind assets: 3 + Capacity: 2
Slide 7: Strategy — Cloudberry's value creation
Strategy — Cloudberry’s value creation Early-stage developments y * Convert acreage into projects * Hydro, wind and shallow water Sweden * Cloudberry’s developers have local knowledge and are hands-on when dealing with local stakeholders + Interaction with landowners, industrial power consumers, gri
Slide 8: Positive outlook for Nordic power prices
Positive outlook for Nordic power prices Cloudberry’s portfolio strategically situated in high price areas Positive outlook for power prices in key Cloudberry price areas NOK (@re)/kWh 2025e 2B 38 47 49 47 48 53 53 53 51 Q cloudberry e Sweden @ in production @ Under construction @ Construction permi
Slide 9: ESG
ESG Integrated in the organisation and throughout the value chain Planet » Assessing Task Force on Climate-Related Financial Disclosures (TCFD) » EU Taxonomy: © Lifecycle emissions < 100g CO2e/kWh © Cloudberry’s hydro and wind projects estimates far below © Power density > 5 W/m2 on Cloudberry's pow
Slide 10: Portfolio overview and ramp-up
Portfolio overview and ramp-up Net capacity (MW) to Cloudberry per 8 December 2021 so Milestones Nessa, Bjorgelva, Usma and Amotsfoss Legend 340 Construction and hand-over completed. Hi Producing rm Currently in production Construction 300 Odal . " 7 100 Under construction. Slight delays. First powe
Slide 11: Key events and updates after publishing of the Q3-2021 report (1/2)
Key events and updates after publishing of the Q3-2021 report (1/2) n Cloudberry is experiencing an acceleration in the number of attractive growth opportunities within its core markets, and sees a strong rationale for being well capitalised to act on the right opportunities - Cloudberry has a long
Slide 12: Key events and updates after publishing of the Q3-2021 report (2/2)
Key events and updates after publishing of the Q3-2021 report (2/2) 2 Letter of intent to acquire Captiva o Announced a letter of intent to acquire 60% of the shareholding of the Captiva Group on 17 November 2021 0° The acquisition will significantly strengthen the Company’s capabilities within deve
Slide 13: Key financials per Q3-2021
Key financials per Q3-2021
Slide 14: Total assets, equity, cash and loans
2500 • 2000 o 1500 o 1000 • • 500 0 Total asset Total equity Cash and cash Interest-bearing equivalents loans and borrowings
Slide 15: Profit or loss as of Q3-2021 (consolidated & proportionate)
Profit or loss as of Q3-2021 (consolidated & proportionate’) Consolidated financials Comments NOK 1000 Q3-2021 Q3-2020.-—-YTD-2021._ YTD-2020__—~FY-2020 * Delivering valuable growth Revenue and other income 6671 923 19242 1951 3640 © Revenue: NOK 24m EBITDA -3074 -5 781 -24 390 -13. 330 -29 822 (NOK
Slide 16: Revenue and EBITDA
50 50 • 40 40 • 30 30 20 20 • 10 10 0 0 -10 -10 -20 -20 Revenue EBITDA Revenue EBITDA
Slide 17: Risk
Risk factors
Slide 18: Risk factors (1/11)
Risk factors (1/11) Investing in Cloudberry Clean Energy ASA (the "Company") involves inherent risks. Before making an investment decision, investors should carefully consider the risk factors and all information contained in this Presentation, as well as all currently available public information.
Slide 19: Market related risks (2/11)
Risk factors (2/11) Market related risks * The Group’s profitability depends on the spot rates for electricity The profitability of the Group’s producing power plants depends on the volume and prices of the electricity produced. The majority of the Group’s sale will be exposed to price risk related
Slide 20: The renewable sector may develop in a direction which adversely affect the Group's business
Risk factors (3/11) The renewable sector may develop in a direction which adversely affect the Group’s business and prospects Unexpected success in other areas of renewable energy may reduce the pressure on the authorities to allow for development of wind parks and hydropower plants. This may affect
Slide 21: The Group may make acquisitions that prove unsuccessful
Risk factors (4/11) 2 The Group may make acquisitions that prove unsuccessful or strain or divert management resources The Group was created in 2020 through a business combination of three separate businesses. During 2020 and 2021 the Group has had an active mergers and acquisition strategy. Making
Slide 22: Specific risks related to the Odal project
Risk factors (5/11) * Specific risks related to the Odal project The Group is a minority owner, owning 33.4% of the shares in Odal Vind AS, which is the owner of the Odal wind farm project. The Odal wind farm project is currently under construction and is expected to be fully operational in H1 2022.
Slide 23: Specific risks related to the Duvhällen project
Risk factors (6/11) + Specific risks related to the Duvhilllen project Duvhilllen wind farm is an in-house project where the Group has been granted a construction permit of 60 MW/165 GWh. However, due to limited power grid capacity, the project has only been granted a power grid capacity permit of 3
Slide 24: Profitability of the Group's projects is not given
Risk factors (7/11) 24 Profitability of the Group’s projects is not given There may be errors in the assumptions or methodology used in the financial models used by the Group in relation to its decisions to acquire or develop renewable energy assets, whether as part of the Group's current portfolio
Slide 25: Charges related to transmission and distribution
Risk factors (8/11) The Group's revenues and costs are dependent on charges related to transmission and distribution Increases in charges relating to the connection to and use of the electricity transmission and distribution networks and relating to balancing of electricity supply and demand, and/or
Slide 26: Dependence on contractors for operation, maintenance and construction
Risk factors (9/11) + The Group is dependent on contractors for the operation, maintenance and construction of its power plants and cost overruns or failure by subcontractors may lead to additional costs for the Group The Group does not have in-house expertise required to construct, operate and main
Slide 27: The Group's debt levels could limit flexibility
Risk factors (10/11) 27 The Group’s debt levels could limit the Group's flexibility to obtain additional financing and if the Group is not able to service its debt or meet the other terms of its credit facilities, the Group may be forced to take actions and sell its assets The Group has two credit f
Slide 28: Risks related to the Company's shares
Risk factors (11/11) Risks related to the Company’s shares + The Company expects to raise additional equity funding, which may not be available on favourable terms or at all The Company expects that it will need to raise additional equity funding to, among other things, fund its various projects, ac
Slide 29: 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
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