Q3 2023 Financial Highlights & Renewable Capacity Update

Net profit, ROCE, and Equity Adjusted net profit¹ Farm-down gains Adjusted ROCE² DKKm %, last 12 months Equity DKKbn Equity excl. hedging reserves Hedging reserves 9,355 5,860 9,346 4,007 1,853 Q3 2023 24.4 53.8 91.5 120.1 12.6 101.8 -66.3 -10.3 Q3 2022 Adjusted net profit of DKK 5.9 bn • Increase driven by higher underlying EBITDA Significant tax-exempt farm-down gains Reported 'Profit (loss) for the period' of DKK -22.6 bn reflecting impairment charge of DKK 28.4 bn 30 Sep 2022 Adjusted ROCE of 12.6 % 30 Sep 2023 Adjusted ROCE is lower due to higher capital employed for the period Reported ROCE of -13.7 % negatively impacted by approx. 26 %-points from impairment charge 30 Sep 2022 Equity of DKK 91.5 bn 30 Sep 2023 Lower equity driven by impairment losses • Reduced hedge reserve driven by large decrease in power and gas prices 9 1. 'Adjusted net profit' excludes impairment 2. 'Adjusted ROCE' excludes impairment Orsted

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