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Investor Presentaiton

CAPITAL STRUCTURE Net debt to EBITDA increasing due to challenged profitability -- Net debt to EBITDA before special items Highlights • Net debt to EBITDA at 0.5 in Q2 2022 . Commitment to cash focus and capital allocation policy remains (0.2) (0.5) (0.9) 1.0 0.5 0.0 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Net debt to EBITDA, last 12 months Net debt to EBITDA, financial target 18 Q2 2022 Classification: Public Vestas®

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