Investor Presentaiton

Offshore market development - UK, Ireland and Isle of Man United Kingdom Ireland Isle of Man ⚫ In April 2021 the UK Government increased its ambition for offshore wind to 50 GW by 2030, including 5 GW of floating offshore wind, to reduce reliance on imports and improve energy security. This ambition was reiterated in the Government's Powering Up Britain report in March 2023 ⚫ Commitment to decarbonise electricity system by 2035 and binding target to reach net zero emissions across the whole economy by 2050 ⚫ CfD allocation rounds to be held annually in an effort to speed up the deployment of renewable energy projects. Allocation Round 5 (AR5) is currently open ⚫ UK Government programme in place to tackle barriers to accelerated deployment (grid, planning etc.) as well as a fundamental review of the electricity market in support of decarbonising the electricity system (REMA) and targeted support for offshore wind supply chain investment ⚫ UK Government has introduced a new tax targeting exceptional electricity generation receipts with effect from 1 January 2023 ⚫ Ørsted and its partner Simply Blue Energy have been offered seabed exclusivity for the 100MW Salamander 'steppingstone' floating project in Scotland following the conclusion of Crown Estate Scotland's competitive INTOG leasing process. This was one of five successful bids in the Innovation element of the leasing round • The Information Memorandum for the Celtic Sea Leasing round announced by The Crown Estate for total of 4 GW of floating projects for delivery by 2035 will be released in Spring 2023. The tender process will begin in mid-2023 for pre-defined sites ⚫ Climate Action Plan published in Nov. 2021 providing a plan to achieve 51 % reduction in overall greenhouse gas emissions by 2030 and to reach net zero emissions by 2050; also includes target of 80% of electricity demand from renewables by 2030 and an aspiration for 7 GW offshore wind by 2030 • The Maritime Area Regulatory Authority is expected to be established in mid-2023 and its responsibilities will include granting seabed exclusivity by way of a Maritime Area Consent (MAC) • The first MACs were awarded to seven qualified projects in December 2022 ahead of the first Offshore Renewable Energy Support Scheme (ORESS) which is expected to open in H1 2023 and conclude before end of June for approximately 2.5GW with a capped price of EUR 150/MWh ⚫ In March 2023, the Irish Government published its "Phase Two Policy Statement", which signalled an unexpected acceleration from a developer-led approach to a plan-led approach to seabed leasing, which will allow for a total of 5GW of grid-connected projects by 2030. There are currently expected to be 2x 400MW sites made available in 2023. Further policy is awaited from the Irish Government, including the creation of Designated Maritime Area Plans which will pre-define zones of seabed areas • The Isle of Man is a Crown Dependency and, as it is not part of the United Kingdom, energy projects in its territorial waters are not eligible to participate in UK CfD auctions •In 2014 the Isle of Man Government ran a formal tender for offshore wind and Ørsted was successful in being awarded the first and only Agreement for Lease in 2015 The Island has now introduced its own Climate Change Act and set out its pathway to net zero by 2050 and the framework for setting 5 year rolling plans and interim carbon emission reduction plans ⚫ In October 2022, Tynwald (parliament) in the Isle of Man approved the first Climate Change Action Plan 2022-2027. This sets a target for 100% carbon neutral electricity by 2030 and at least 20 MW of local renewable energy generation on the Island by 2026 ⚫ Ørsted continues to engage with key stakeholders, including the Isle of Man Government, regularly and we continue to be excited the opportunity to deliver a large scale offshore wind farm off the east coast of the Island 18 All auction and tender timelines and capacities based on current expectations and subject to change Orsted

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