Investor Presentation

Strong strategic focus underpinning Cadeler's success Combination with Eneti supporting strategy through scale and enhanced capabilities CADELER m CADELER ENETI Fleet growth at an opportune time and price by ordering vessels and locking-in options at attractive terms and delivery slots Selecting high-quality yards using well-tested designs to reduce newbuilding risk Strategic focus on the largest vessel designs capable of installing next generation +20 MW turbines Crane upgrades making O-Class vessels capable of competing with the most modern newbuilds Robust backlog securing solid future utilization through careful project selection, strict regional focus and establishing super partnerships with blue-chip counterparts Redundancy measures and backup plans available for every project Decided not to be first mover into the US market, employing assets in Europe while US market matures Widened business scope as a full-service T&I provider in the foundations space to leverage on Cadeler's capabilities to extract premium earnings Excluded EPCI projects from strategic focus due to project economic risks Transformational combination with Eneti building scale, fleet diversity and capabilities at a time when offshore wind needs reliable partners and solutions Illustration displays Cadeler share price from IPO (Nov 2020) to announcement of the Cadeler and Eneti merger (June 16 2023)

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