Q3 2023 Financial Highlights & Renewable Capacity Update

Offshore market development - US New York Massachusetts . Target 9 GW offshore wind by 2035. 4.3 GW awarded in total • Price adjustments for RD1 and RD2 were rejected by state PSC, potential of exit for awarded projects under the schemes. State exploring options for accelerated re-bid process for impacted projects. This possible solution is still in development . Ongoing NY-3 RFP for 2.0-4.6 GW with estimated timeline for award in Q4 2023 (announcement expected in November) Target of 5.6 GW offshore wind by 2027 of which 3.2 GW has already been awarded. Up to 2.0 GW have been "withdrawn" (Commonwealth Wind & South Coast Wind) • Next OSW procurement for up to 3.6 GW released, with bid submission by 31 January 2024; solicitation in coordination with Connecticut and Rhode Island • Target of up to 2.3 GW of offshore wind capacity by 2030, of which 1.2 GW remains available Connecticut • Avangrid terminated its Park City project due to inability to renegotiate project pricing to mitigate macroeconomic challenges • Next OSW procurement for remaining capacity in 2024; solicitation in coordination with Massachusetts and Rhode Island ⚫ Legislation signed to power the state with 100% renewable energy by 2033 Rhode Island • Next OSW procurement for 1.2 GW in 2024; solicitation in coordination with Massachusetts Connecticut New Jersey • Target of 11 GW of offshore wind capacity by 2040 • Award in third round solicitation of between 1.2 GW and 4 GW expected Q1 2024; Orsted not participating Legislation setting 8.5 GW OSW goal by 2031 passed in April 2023 Maryland • Under provision of new law, State could issue RFP for a PPA in Q3 2024 California 22 Other In 2022, BOEM completed a sale of five seabed leases located in deep waters off California's central and northern coasts Preliminary planning target updated to 25 GW by 2045 ⚫ Louisiana's first ever Climate Action Plan outlined a 5 GW by 2035 offshore wind goal • BOEM lease auction completed in Gulf of Mexico; additional auctions for Central Atlantic, Oregon, and Gulf of Maine expected in 2024 Oregon's governor and members of the state Congressional delegation asked BOEM in June 2023 to slow down the leasing process All auction and tender timelines and capacities based on current expectations and subject to change Orsted

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