Orsted · OMXCOP:ORSTED

Orsted — Ørsted — Investor Presentation (November 2019)

9 slides from Orsted's investor presentation, Nov 27, 2019

1. Slide 1: Delivering Europe’s Green Deal

   Delivering Europe’s Green Deal What it takes to develop 450GW of offshore wind Martin Neubert CEO Ørsted Offshore 2019-11-27

2. Slide 2: Decarbonisation → electrification → 450GW

   Decarbonisation → electrification → 450GW

3. Slide 3: Europe needs a new approach to offshore wind energy

   Europe needs a new approach to offshore wind energy Traditional approach ‘Green Deal’-approach 1.1GW 10GW 12GW 0.8GW A B 20 GW 450 A Z GW 3-4GW/y 20GW/y 3

4. Slide 4: Finding the space for 450GW of offshore wind energy

   Finding the space for 450GW of offshore wind energy Traditional approach ‘Green Deal’-approach Martitime spatial planning for net-zero ? ? 4

5. Slide 5: Need for more transmission

   Need for more transmission ONSHORE OFFSHORE Historical buildout of 220-400kV transmission Need for 6x more capacity km per year1 Interconnectors 1: Source: ENTSOE, Power Statistics, Inventory of transmission 1975-2015 and 2014-2018, 5 Nordel annual reports and own calculations. Countries incl.: AT,

6. Slide 6: Bringing the offshore wind energy to Europeans

   Bringing the offshore wind energy to Europeans Scale / complexity (illustrative) MESHED NETWORKS / ISLANDS CLUSTER SMART LOCATION OF ELECTROLYSIS MULTICONNECTIONS SEPARATE INTERCONNECTORS & OFFSHORE WIND FARMS -20% need for interconnectors -25% stand alone offshore connections -25% CAPEX for connect

7. Slide 7: Bornholm as the world’s first energy island

   Bornholm as the world’s first energy island \_ Ronne Banke ~~ Designated Danish Windfarm area First tender ~1IGW \_ Ronne Banke —~ Designated Danish Windfarm area Later tenders ~1GW each — Interconnector in first tender -- Potential new interconnectors Orsted Illustrative

8. Slide 8: Scaling up the industry … We are ready

   Scaling up the indstry … We are ready 1991: Vindeby (5MW) 2019: Hornsea 1 (1218MW) 8

9. Slide 9: Let’s create a world that runs entirely on green energy

   Let’s create a world that runs entirely on green energy

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