Investor Presentation Q1 2025

1 January - 31 March 2025



Q1 2025 - Highlights

Financial performance in line with expectations.

Cadeler took delivery of two newbuilds (Wind Maker and Wind Pace) in Q1, delivering 50% of this year's newbuild program in the first quarter. All four remaining newbuilds remain on track for delivery on or ahead of schedule.

7 vessels now active in Europe, APAC & US, demonstrating Cadeler's global footprint.

Growing demand for O&M services, strongly contributing to the utilization of Cadeler's fleet.

Cadeler's contract backlog continues to strengthen, increasing over the quarter to EUR 2.5bn.



Q1 2025 Commercial Highlights





Executing on projects

Vessel activity in Q1 2025



Wind Orca Wind Osprey Wind Scylla Wind Zaratan

Completed an O&M campaign for Siemens Gamesa and thereafter mobilised for the He Dreiht installation project for Vestas where work started in early April 2025.

Completed an O&M campaign for Vestas, thereafter successfully underwent a comprehensive drydock work scope at Fayard.

After drydock, the vessel completed mobilisation for the Baltic Power installation project and

is continuing a Vestas O&M campaign before that project starts.

Continues to work on the installation project for Ørsted Revolution Wind in the United States.

Commenced the O&M campaign for Vestas at the Changfang and Xidao wind farm in Taiwan end Q1 2025.



Wind Peak Wind Maker Wind Pace

Completed an O&M campaign for Vestas

Thereafter, completed mobilisation and commenced work on the Sofia installationn project for Siemens Gamesa.

5

Delivered in January 2025 in Korea.

Transited to Singapore for mobilisation before onwards transit to Taiwan to commence the Greater Changhua installation project for Ørsted.

Delivered in March 2025 and is currently transiting to Europe, where she will be mobilised for her first O&M campaign in the United States.

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Cadeler A/S published this content on May 21, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 21, 2025 at 12:10 UTC.