Ørsted: A stronger and more competitive Ørsted after a defining year with earnings of DKK 25.1 billion within guidance in International Shipping News 09/02/2026 Ørsted’s Board of Directors approved the annual report for 2025. Ørsted has taken significant steps to deliver on its strategic priorities during the year. This includes a strengthened capital structure through the successful completion of the rights issue, and the finalisation of the divestment programme for 2025 and 2026 earlier than planned and with higher proceeds than expected, as well as a strong operational performance. Consequently, our EBITDA (excluding new partnership agreements and cancellation fees) was DKK 25.1 billion, which is within our guiding range of DKK 24 to 27 billion, and we delivered a net profit for the year of DKK 3.2 billion. Rasmus Errboe, Group President and CEO of Ørsted, says in a comment to the annual report for 2025: “2025 was a defining year for Ørsted. I’m satisfied with the large steps we’ve taken to create a stronger, more focused, and more competitive Ørsted, even if we still have a lot of work ahead of us. We’ve strengthened our financial foundation and focused our business on offshore wind, and we now have financial flexibility to pursue attractive offshore wind opportunities in Europe and select markets in Asia Pacific.” “I’m satisfied with the good progress across our offshore construction programme, which will grow our installed capacity within offshore wind to more than 18 GW by the end of 2027. In 2025, we also delivered strong operational performance within guidance, and we increased offshore generation by 6 % compared to 2024 – despite wind speeds below the norm – driven by higher availability rates from our offshore wind farms and ramp-up of generation from Gode Wind 3 in Germany.” Highlights from the execution of our business plan in 2025 The first of the four strategic priorities in our business plan is to strengthen our capital structure. Throughout 2025, we have delivered on this priority according to plan and now have a robust capital structure. We completed a rights issue of approximately DKK 60 billion in gross proceeds, and we are thankful for the strong support we received from our shareholders. In addition, we have now effectively finalised our partnership and divestment programme through the divestment of a 50 % equity stake in the 2.9 GW Hornsea 3 Offshore Wind Farm in the UK, a 55 % stake in the 632 MW Greater Changhua 2 Offshore Wind Farms in Taiwan, and the divestment of our European onshore business. By securing around DKK 46 billion in proceeds from our divestment programme, we have delivered more than our announced target of over DKK 35 billion. Our second priority is to deliver on our 8.1 GW offshore wind construction portfolio, and we have made strong progress across our six construction projects spanning three continents. On 22 December, Revolution Wind, LLC and Sunrise Wind LLC each received suspension orders from the director of the U.S. Department of the Interior’s Bureau of Ocean Energy Management (‘BOEM’). Both companies pursued litigation separately, including motions for preliminary injunctions against the orders while the lawsuits over them proceed. The motions were granted by the U.S. District Court for the District of Columbia on 12 January and 2 February, respectively. Both project companies have restarted the impacted activities while their lawsuits over the orders proceed. We are on an ongoing basi