Investor Presentaiton

Offshore market development - US • Massachusetts Target of 5.6 GW offshore wind by 2027, of which 3.2 GW has already been awarded, through and including December 2021 awards ⚫ Next auction expected in late 2023 • Connecticut Target of 2 GW of offshore wind capacity by 2030, of which 1.2 GW remains available • Next auction expected in 2023 • 2.5 GW awarded in Q1 2021 and 4.3 GW in total. Target 9 GW offshore wind by 2035 New York • Next auction expected in H2 2022 New Jersey Maryland Rhode Island California North Carolina ⚫ BOEM completed a sale of 6 new seabed lease areas in the New York Bight, all leases can serve both New York and New Jersey markets Target of 7.5 GW offshore wind capacity by 2035, of which 3.7 GW remains available following recent awards to Ocean Wind 2 and Atlantic Shores Next auction of at least 1.2 GW expected in H1 2023 ⚫ NJ Board of Public Utilities and PJM currently evaluating 2021 bids for offshore wind shared transmission. Outcome is expected in H2 2022 • Awarded 1.6 GW across two projects in December 2021, meeting its solicitation target and therefore closing future solicitation rounds • No firm targets for offshore wind beyond awarded projects Executive order signed to power the state with 100% renewable energy by 2030 • Next auction, currently envisioned as up to 600 MW, is expected in H2 2022 ⚫ First BOEM auction of up to 5 seabed leases expected in late 2022. Sites are in deep waters off California's central and northern coasts • New law requires state energy agency to set non-binding offshore wind goal in summer 2022. Previous state modeling indicates goal could be as big as 10+ GW ⚫ BOEM lease auction expected in 2022 ⚫ Legislation requires electric sector to reach 70% decarbonisation by 2030 and 100% by 2050. Executive Order targets 2.8GW of offshore wind by 2030 and 8GW by 2040 18 Other BOEM lease auctions expected in Gulf of Mexico, Central Atlantic, Oregon, and Gulf of Maine between 2022 and 2024 All auction and tender timelines and capacities based on current expectations and subject to change Orsted

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