Slide 1: Investor presentation
Investor presentation 11 August, 2026 | 1
Slide 2: Disclaimer
Disclaimer This presentation (this “Presentation") has been prepared by Cadeler A/S (the “Company") exclusively for information purposes and may not be reproduced or redistributed, in whole or in part, by any other person. Forward-looking statements This Presentation contains certain forward-looking
Slide 3: Agenda
Agenda Transaction overview Introduction to Menck 3
Slide 4: Transaction overview
Transaction overview Cadeler significantly expands its capabilities in offshore wind foundation T&I with the acquisition of Menck Transaction overview Overview of sources and uses • Cadeler has entered into a definitive agreement to acquire 100% of Menck, a leading global Sources EURm1 Uses EURm1 pr
Slide 5: Transaction rationale
Transaction rationale Strengthening Cadeler's customer offering and execution capabilities across the foundation value chain Number of foundations installed • Broadened solutions offering enabling Cadeler to deliver a complete and integrated approach to project execution • Improving execution certai
Slide 6: Agenda
Agenda Transaction overview Introduction to Menck 6
Slide 7: Menck investment highlights
Menck investment highlights German technology leader in offshore wind foundations equipment 150+ years Global presence ▪ Diverse portfolio of hydraulic double-impact hammers together with complementary of engineering expertise EMEA, APAC and Americas capabilities in noise mitigation, drilling, grout
Slide 8: Strengthening foundation T&I capabilities
Strengthening foundation T&I capabilities Specialist technology, tools and related services for the installation of fixed-bottom offshore foundations Menck’s key capabilities Scale and ▪ Up to 40,000 specially engineered components engineering complexity ▪ Largest hydraulic hammers >700 tons deliver
Slide 9: Broadening Cadeler's foundation installation offering
Broadening Cadeler's foundation installation offering Menck offers a diverse portfolio of hydraulic hammers complemented by drilling, lifting and grouting services Hydraulic hammers 84% Lifting and handling 1% Noise mitigation 0% (8%)1 ▪ Hydraulic hammers for monopile, jacket and floating foundation
Slide 10: The industry's most advanced piling equipment
The industry’s most advanced piling equipment Long build times underline the importance of reliable access to mission critical equipment Leading fleet of large hydraulic hammers Long lead time to secure mission critical equipment 1 of 2 global providers capable of serving large-diameter monopile ins
Slide 11: Asset fleet allows for unmatched flexibility and risk remediation for clients
Asset fleet allows for unmatched flexibility and risk remediation for clients Illustrative flexibility and contingency scenarios during a foundation installation campaign Planned campaign Vessel 1 Guaranteed hammer availability for all Cadeler Vessel with its own Hammer 1 Foundation installation ves
Slide 12: Menck standalone medium term objectives
Menck standalone medium term objectives Revenue and EBITDA growth driven by the delivery of next-generation large hammers, reducing the fully delivered EV/EBITDA below 5x 2023-25 average1 2026E2 Medium term objectives (fully-delivered hydraulic hammer basis) >20% CAGR3, Total revenue (EURm) 113 133