Investor Presentation

Capacity growth enabled by next generation turbines Developers are opting for ever larger turbines which again require larger, high-capacity installation vessels Expected size development of WTGs WD=60m Swept area: ~11 soccer pitches CADELER Technology innovation impacting fleet dynamics Offshore wind has grown rapidly in recent years with capacity additions set to continue Growth made possible due to larger turbine sizes and advances in turbine technology Turbine size and technology development driven by: O Pressure to reduce the Levelized Cost of Energy ("LCOE")

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