Sustainability-Linked Bond Framework

Key terms of the proposed Sustainability-Linked Bond Offering Please see the EMTN Programme for complete Terms and Conditions Issuer Guarantor Guarantor Rating Expected Issue Rating Status / Format Currency Expected tenor Expected size Coupon SPTS SLB Premium Amount Denominations Listing Documentation Optional Redemption Governing law Use of Proceeds Joint Bookrunners Sustainability Structuring Advisor Target Market Danfoss Finance II BV (Ticker: DNFSDC / Country: NL) Danfoss A/S BBB (stable outlook) by S&P BBB by S&P Senior Unsecured, Reg S, Bearer EUR [6-7 years] EUR 500m (WNG) Fixed, Annual, Actual/Actual (ICMA) Reduce absolute Scope 1 and 2 GHG emissions by 75% from a 2019 baseline 75 bps payable at maturity following the occurrence of a Sustainability-Linked Trigger Event EUR 100,000+ 1,000 Official List of Luxembourg Stock Exchange (Euro MTF market) EUR 2.5bn EMTN programme; Offering Circular dated 17 May 2023 3-month Par Call, Make Whole Call, Clean-Up Call at Par (80%) English Law General Corporate Purposes BNPP, Danske Bank, JP Morgan, Nykredit Danske Bank Manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPS or UK PRIIPs key information document (KID) has been prepared. No sales to retail in the EEA or the United Kingdom 27 Bond Investor Presentation May 2023 ENGINEERING TOMORROW Danfoss

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