Investor Presentaiton

Offshore market development - UK & Ireland United Kingdom ⚫ UK Government target annual build-out of 3 GW to reach 40 GW capacity by 2030 (including 1 GW of floating wind by 2030) • Commitment to decarbonise electricity system by 2035 and binding target to reach net zero emissions by 2050 ⚫ CFD auctions to be held annually in an effort to speed up the deployment of renewable energy projects ⚫ CFD Allocation Round 4 auction opened December 2021 with an allocated pot of GBP 200 m for bottom-fixed, but no capacity cap. Floating Wind will compete for a different allocated pot of GBP 75 m (pot 2) with other immature technologies; pot 2 includes a minimum (or ringfenced) spend of GBP 24 m for floating; results will be announced in summer ⚫17 sites were awarded in ScotWind leasing round in January, the first large-scale seabed lease auction for both bottom-fixed and floating projects launched by Crown Estate Scotland; clearing process for unsuccessful applicants expected to open in Q2 2022 • Innovation and Targeted Oil & Gas (INTOG) offshore leasing round announced by Crown Estate Scotland targeting up to 500 MW of Innovation projects and up to 5.7 GW of Targeted Oil & Gas Decarbonisation projects; the application window is anticipated to open in June 2022 ⚫ Celtic Sea Leasing round announced by The Crown Estate for total of 4 GW of floating projects. The first leases are to be awarded in 2023 with both small scale (300 MW projects pre-2030) and utility scale (1 GW projects 2030-35). Details of auction model and available sites to be clarified through 2022 Ireland • Climate Action Plan published in Nov 2021 providing a plan to achieve 51 % reduction in overall greenhouse gas emissions by 2030 and to reach net zero emissions by 2050; also includes target of 80% of electricity demand from renewables by 2030 and 5 GW offshore wind by 2030 ⚫In Dec 2021, the Maritime Area Planning (MAP) Act 2021 was enacted providing for the establishment of the Maritime Area Regulatory Authority (MARA) - a dedicated maritime area agency ⚫ The Maritime Area Consent (MAC) regime opened for applications in March, with the first MACs expected to be issued in the second half of 2022 for potentially seven qualified projects ahead of the first Offshore Renewable Energy Support Scheme (ORESS) expected to open in Q4 2022 16 All auction and tender timelines and capacities based on current expectations and subject to change Orsted

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