Q3 2023 Financial Highlights & Renewable Capacity Update

EBITDA increase of more than 70% driven by strong Offshore performance EBITDA excl. new partnerships of DKK 5.2 bn in Q3 2023 DKKm Q3 2022, excl. new partnerships Offshore sites Existing partnerships Other incl. DEVEX Onshore CHP plants Gas & Other Other Q3 2023, excl. new partnerships London Array farm-down Q3 2023, incl. new partnerships Offshore - & Other Bioenergy 2,971 -1,875 -166 -49 3,583 322 EBITDA excluding new partnerships . Offshore sites delivered strong results due to: . 200 5,166 4,007 9,173 • • . - - - Wind speeds slightly above norm (8.6 m/s in Q3 2023 vs. norm of 8.4 m/s), and above last year (7.7 m/s in Q3 2022) Ramp-up generation at Greater Changhua 1 & 2a, higher prices on inflation-indexed CfD and ROC wind farms as well as lower balancing costs and BSUOS costs Negative impact from hedges in Q3 2022 not repeated in Q3 2023 Earnings from existing partnerships in line with Q3 2022 Onshore earnings on par with Q3 2022 as higher generation from new assets was offset by significantly lower power prices Negative earnings from CHP plants driven by unfavourable spreads due to the significantly lower power prices, lower generation and higher accounting fuel costs Higher earnings from our gas activities mainly driven by a positive effect from revaluation of gas at storage New partnerships in Q3 2023 ⚫ DKK 4 bn farm-down gain related to the divestment of 25% stake in London Array 180 8 Orsted

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