Q2 2021 Financial Highlights and Offshore Wind Build-Out Plan

Offshore market development - UK and Continental Europe United Kingdom Germany Netherlands ⚫ UK Government target annual build-out of 3 GW to reach 40 GW capacity by 2030, including 1 GW of floating wind by 2030 . . Leasing round in Scotland for 10 GW underway with applications due mid July 2021, results expected by end 2021/early 2022 Announcement of an upcoming leasing round for ~300 MW floating wind projects in the Celtic Sea, timing to be confirmed ⚫ CfD auction expected to open end of 2021 for up to 12 GW of low carbon capacity. Separate pots for onshore wind, solar PV, bottom-fixed and floating offshore wind • Legally fixed target for offshore wind capacity is 20 GW by 2030 and 40 GW by 2040 ⚫ First centralised tender launched in February 2021. 0.9-4 GW to be built annually from 2026 ⚫ New tender framework confirmed, introducing caps of bid levels; selection criteria in case of several zero subsidy bids to be evaluated in 2022 Government target of 11.5 GW offshore wind by 2030, and new government expected to increase target in 2021 by 5-10 GW by 2030 ⚫ Next tender of 1,520 MW for Holland Coast West with bid deadline H1 2022 • Tender for Thor (0.8-1.0 GW) in Q4 2021. Hesselø tender (0.8-1.0 GW) delayed due to complex seabed conditions Denmark ⚫ Tender for designing, building and co-owning an artificial island in the North Sea as hub for up to 10 GW offshore wind in Q1 2023 ⚫ Tenders for 5 GW of offshore wind farms in total connected to the Bornholm and North Sea Energy Hubs towards 2033 ⚫ Government ambition for tendered capacity of 8.75 GW for the period 2020-2028 France • Round 4 tender has commenced with a capacity of c. 1 GW Poland Belgium Baltic States 19 Sweden Norway • ⚫ Offshore Wind Act with aim to award 10.9 GW offshore wind by 2027 signed into law. CfD auctions in 2025 and 2027 with expected total 5 GW Allocation of approx. 2 GW towards target to construct approx. 4 GW by 2030 and MoU with Denmark for large scale offshore wind power imports ⚫ Lithuania: Draft laws for 700 MW 2024 offshore wind tender under review by Lithuanian parliament. Second tender of 700 MW planned for 2025 ⚫ Latvia and Estonia: MoU between Latvia and Estonia in place for the development of a joint offshore wind project of up to 1 GW • 100% renewable electricity target by 2040 and carbon neutrality by 2045 ⚫ National electrification and hydrogen strategies being developed. Government proposal to ease wind farm environmental permitting Proposed Offshore transmission scheme pending • Norwegian authorities have opened two areas for offshore wind projects (bottom-fixed and floating) with a max capacity of 4.5 GW to be allocated through competitive process in 2022. Details of auction model to be clarified and announced during H1 2022 All auction and tender timelines and capacities based on current expectations and subject to change Orsted

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