Investor Presentation

CADELER ENETI CAPEX program expected to be fully funded in the near term Cadeler has experienced strong interest from banks to finance the CAPEX program CAPEX program¹ and planned Cadeler financing (€m) Exp. signed Nov '23 Committed Exp. Signed Q4'23 Exp. Signed Nov '23 Expected signed before YE 2024. Strong appetite with similar terms seen in X-Class funding 1,125 425 450 T 45 411 514 100 50 100 Corporate RCF upsize O-Class crane term loan (+ €50m Accordion) funding term loan X-Class funding F-Class funding² Total O-Class new crane contract X-Class contract F-Class contract 155 Net funding surplus ~Upcoming and recently secured Cadeler CAPEX and business combination funding • €675m in funding, with signed or expected to be signed loan documentation prior to merger close Expansion of performance guarantee lines from €60m to €100m expected signed Q4 2023 Hedging • 50% of $ exposure has been hedged ~50% of interest exposure has been hedged for the first five years of the expected facilities Secured financing with signing prior to merger close 1) Outstanding per Q2 2023. Total sum of the contracts for the new F-Class vessels is approximately EUR 681m, of which EUR 167m was paid in 2022, total sum of the contracts for the new X-Class vessels is approximately EUR 548m, of which EUR 137m was paid in 2021, the total sum of the contracts for the replacement of both cranes is approximately EUR 83m, of which EUR 38m has been paid. 2) Management's expectations, based on similar terms realized on the X-Class funding

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